Legal Removals: A Growing Trend
Between the end of 2023 and 2024, law firms have experienced a growing trend towards the relocation of their offices. Legal relocations are a phenomenon that responds to a variety of factors that are redefining the way in which firms operate and position themselves in the market. Firms such as Garrigues, Hogan Lovells, Broseta, Simmons & Simmons and Abdón Pedrajas Littler have reassessed their needs and explored new ways of operating that are more efficient and aligned with the expectations of their employees and clients.
During the COVID-19 pandemic, the adoption of teleworking and the use of collaborative technologies, many firms found that they did not need as much physical space as before. Flexibility became a priority for firms and for employees. But over time, personal dealings with the client and the need to carry out teamwork have changed things again. The average office attendance rate in Madrid, according to a study by the real estate consultancy Savills (Savills Research), has reached 68% and is very close to the pre-pandemic average of 70% in Europe. But what are the main reasons behind these moves?
by julia gil
Image: Fernando Vives, Garrigues managing partner; José Luis Vázquez, Hogan Lovells managing partner; Rosa María Vidal, Broseta´s managing partner; Eduardo Peñacoba, Simmons & Simmons managing partner and Antonio Pedrajas, Abdón Pedrajas Littler managing partner.
GARRIGUES – TORRES COLÓN
Garrigues moves its headquarters to Torres Colón, owned by Mutua Madrileña. The lease covers both towers, with a total of 20,298 square metres distributed over 30 floors. It consists of a complex made up of two groups of buildings (the head office at Hermosilla 3 and another building at Castellana 10), as its managing partner, Fernando Vives, explains, connected to each other by different owners, with different lease contracts and disparate renewal terms. That is why they decided to occupy this new space, which “gives us flexibility, meets our requirements and will allow Garrigues’ 700 professionals in Madrid to be in the same building”, emphasises Vives.
Another reason why the firm chose this location is that it is a state-of-the-art building with high efficiency and all the latest environmental advances. The Colón Towers will be the first business towers to be considered a Nearly Zero Consumption Building (NCEB). “Its location is what we were looking for and the possibilities for implementation are unbeatable,” concludes Vives.
As a law firm with revenues of around 400 million euros in Spain and which has set a historic milestone in the European legal panorama by exceeding 450 million euros in 2023, they are moving to a building that meets all the requirements to provide the best service to their clients.
HOGAN LOVELLS- PASEO DE LA CASTELLANA, 77
Hogan Lovells has moved to Paseo de la Castellana 77 in Madrid, in the financial area of Nuevos Ministerios, in an office building with 18 floors and a height of 68 metres. A change that comes in an important year in the firm’s history, as 2024 marks the 20th anniversary of the opening of the office in the capital.
Providing the best service to its clients, collaborating with diverse and inclusive teams and being a responsible and green company are some of the main reasons that led them to make this change, as José Luis Vázquez, managing partner of the firm in Madrid, explains. “This office also represents the international character of our firm, as it is a reflection of those we have around the world, such as Shanghai or Silicon Valley,” he says.
The firm prioritises the design and working experience of all its clients and members of the firm, so the building had to meet the standards of encouraging collaboration and providing ergonomic workstations, tailored to the current and future needs of each of the teams and thus stimulating more synergies between the teams. “We were very clear that we wanted to support employee flexibility while encouraging people to see each other in person, and this building fulfils that desire thanks to its open-plan spaces and large number of work points that allow our employees to connect from anywhere in the office and work in comfort,” says Vázquez.
Hogan Lovells broke records in Spain with a turnover of more than 60 million euros in the 2023 financial year. Specifically, the Madrid office has increased its turnover by 17% compared to 2022. It is also a firm that is conscious of sustainability and the environment. “Caring for society is one of the five strategic pillars of our firm and the design of this office puts us right where we want to be in terms of sustainability,” says the managing partner. The firm continues to prioritise a future of efficiency and rigorous ESG compliance, as it has the highest level of sustainable LEED, Platinum and WELL Gold certification, the highest level AIS (Accessibility Indicator System) 5-star accessibility certification.
BROSETA – PASEO DE LA HABANA 101
