Womble Bond Dickinson, advised by Alder King, has agreed a new lease on its Plymouth office at Ballard House in Millbay until 2035.
The law firm, which currently occupies 32,660 sq ft on the fourth floor at Ballard House, has signed a new 16 year lease for the fifth and sixth floors of the building totalling 26,003 sq ft.
It will now undertake a £1 million refurbishment of both floors to transform the cellular office layout into a modern open plan working environment.
Noel Stevens, partner at Alder King’s Exeter office, commented: “Last year, having considered available options in the market, WBD decided to remain at Ballard House, its base for the past 23 years.
“We have successfully negotiated positive terms for them with the new landlord, Plymouth City Council. This has helped retain a major employer in the city and secured a significant investment in Ballard House, one of Plymouth’s largest office buildings.”
Craig Moore, partner and head of WBD’s Plymouth office, said: “With an office in Plymouth since 1881, we know that the city and the South West region are a great place to do business.
“There is an enormous amount happening here and we are delighted to confirm the extension of our lease of Ballard House for the next 16 years and a refurbishment investment of over £1 million.
“Our Plymouth office continues to go from strength to strength, providing clients with a unique offering of national and international experience on their doorstep. Our long-term commitment to Plymouth is a reflection of the growth in our clients and the value we bring to them. We look forward to growing the business further.”
Ballard House is a seven storey detached office building with basement car parking and recently refurbished entrance and common parts. Occupiers include Plymouth City Council which in March 2019 acquired the 43,500 sq ft building as part of an investment package designed to save £2.25 million.
The property occupies a commanding position overlooking Plymouth Sound and lies adjacent to the 19 acre Millbay regeneration area, a 2 million sq ft mixed use scheme including a new marina, school and residential.