International law firm Simmons & Simmons has signed for up to 180,000 sq ft of office space at IJM Corporation Berhad’s 378,000 sq ft 25 Finsbury Circus in the City of London on a 20-year lease.
The Malaysian investment firm acquired the long leasehold interest in the Grade II listed building for £72.5m from affiliates of TPG Angelo Gordon earlier this month.
Finsbury Circus is undergoing a comprehensive £150m sustainability-led refurbishment and reconfiguration, which will increase its total footprint by 26%. Upon completion, the building will provide 378,000 sq ft GIA and 251,068 sq ft NIA, and have a projected gross development value of approximately £420m.
Simmons & Simmons’ space will include flexible office layouts, wellness focused areas and end-of-journey facilities such as bicycle storage, showers and lockers.
Dato’ Lee Chun Fai, CEO and managing director of IJM Corporation Berhad, said: “We are delighted to welcome Simmons & Simmons as the anchor tenant at 25 Finsbury Circus. Today’s signing affirms market confidence and tenant appeal for this property. Their long-term lease underscores the value of the asset and aligns with IJM’s strategy of building an international portfolio of well-positioned properties offering strong recurring income potential,”
Jeremy Hoyland, managing partner at Simmons and Simmons, added: “We are delighted to have secured 25 Finsbury Circus as the new base for our London office. This dynamic office space is an excellent fit for the firm and a strong statement of our ambitions. Like the firm itself, it combines heritage with innovation – and most importantly, it’s equipped to meet our growth objectives, ensuring that Simmons will remain highly competitive in the years ahead.”
