International law firm Clifford Chance has appointed Cushman & Wakefield to undertake a strategic review of its London occupational requirements and to advise on its long-term property strategy.
Clifford Chance has been based at the 30-storey, 1 million sq ft (93,000 sq m) 10 Upper Bank Street in Canary Wharf since 2003, when it relocated from 200 Aldersgate Street in the City of London, with its lease running until 2028.
The firm sublet 389,000 sq ft (36,139 sq m) in the building to Deutsche Bank in 2015.
Michael Bates, UK Managing partner at Clifford Chance, said: “We have learned a lot over the course of the pandemic about the importance of the workplace experience to our culture, our colleagues and our clients. With so many leaps forward in what is possible, and with clients based right across London, it is particularly important that we think seriously about the ‘where’ and ‘how’ of the future of our London space in the longer term.”
A multidisciplinary team at Cushman & Wakefield “will ensure that Clifford Chance’s long-term real estate strategy is informed by market-leading insight on workplace experience, sustainability and wellness,” the firm said in a statement.
Cushman & Wakefield’s head of London occupier representation James Meikle described it as “a generational opportunity for Clifford Chance to align its real estate strategy to its future business strategy”.
“Making long-term decisions, during the most challenging and uncertain times in modern history, requires a clear vision and robust strategy,” he added.