US firm Kilpatrick Stockton is set to become the fourth law firm to move to Canary Wharf, providing another boost to the site’s prospects.
The Atlanta firm is understood to be on the verge of signing up for 28,000sq ft at One Canada Square, with rent at an estimated £42 per sq ft. The office was previously occupied by Skadden Arps Slate Meagher & Flom, which has since relocated to nearby 40 Bank Street.
Kilpatrick’s move has been spurred by its sudden increase of lawyers in London, after it took on 14 partners and 25 lawyers from the now defunct UK office of collapsed Chicago firm Altheimer & Gray.
The decision is a huge lift for Canary Wharf, currently the subject of a drawn-out auction bid concerning around one million sq ft of vacant space. In September, Clifford Chance moved into its new premises at 10 Upper Bank Street, while Allen & Overy has also taken 78,000 sq ft at Canary Wharf.
Kilpatrick was unavailable for comment.