French firm Gide Loyrette Nouel has signalled its commitment to London after securing 12,000 ft of permanent office space at landmark building CityPoint.
The firm has made the most of the favourable market, as it is understood that it has negotiated a 14-month rent free period and rent of £45 per sq ft. Gide declined to comment on the details of the move.
The firm launched in London in June last year, but until now has been renting serviced office space in Citypoint on a month by month basis.
Gide’s London managing partner Christopher Mead said: “The deal does leave us a little room for growth, although we will fill most of the space.
“The firm aims to grow to between 50 and 100 lawyers in the next five years,” he added.
The firm currently has around 35 lawyers in London, while the new space accommodates up to 60 lawyers.