Key facts
- US law firms are taking up more office space in London than their UK counterparts.
- The trend of US firms expanding their London presence has continued for a second consecutive year.
- Headcount growth has been observed at the 50 largest non-UK headquartered firms in the City.
American law firms are significantly expanding their footprint in London's corporate real estate market, outstripping the growth of their UK-based rivals. Data from estate agent Knight Frank indicates that US firms have doubled the square footage they have transacted on in the City of London over the last five years. This aggressive expansion contrasts with a markedly reduced appetite for additional office space from UK-founded firms during the same period.
Further analysis from Law.com shows that leading US firms have ramped up their investment in the capital, leading to headcount growth for a second consecutive year. The largest players among the 50 largest non-UK headquartered firms in the City are continuing to expand their presence, signaling a competitive drive at the top end of the market.