The international practice, which employs more than 900 lawyers in 26 offices, has appointed Cushman & Wakefield to scour the City for options ahead of a 2015 lease expiry at 160 Queen Victoria Street, EC4 (pictured), which has been the firm’s London headquarters for the past eight years.
C&W won the mandate to advise on the requirement after Dechert recently handpicked agents to pitch for the role. CBRE, Jones Lang LaSalle and DTZ were among the others agents to have pitched.
Dechert is looking for options of between 60,000 sq ft and 80,000 sq ft but has not ruled out re-gearing its lease at Queen Victoria Street and staying put if it does not find a suitable option.
Dechert’s London office managing partner Jason Butwick, told CoStar News: "The lease on our office space expires in the first quarter of 2015. "Having interviewed a number of firms, we have selected Cushman & Wakefield LLP to help our internal team explore and evaluate all of our options for office space going forward. This will include a full review of the market for potential relocation options, as well as the possibility of renewing our lease at Queen Victoria Street."
In March 2005, Dechert concluded one of the longest-running letting deals in the City of London by signing for 55,000 sq ft at Times Square, 160 Queen Victoria Street. The company had been considering various buildings for five years before deciding on a move away from Serjeant’s Inn, EC4. At that time, Dechert moved around 280 fee earners into the west wing of the 350,000 sq ft scheme.
Dechert's core practices are corporate and securities, with an emphasis on mergers and acquisitions, private equity, and corporate finance.
Source:James Buckley, CoStar News