Clifford Chance

CASE- CLIFFORD CHANCE

PROBLEM:

How Peter Charleton would convince his managing partners to move the Clifford chance head quarters to Canary Wharf.

OBJECTIVES:

To construct an airtight argument to show that Canary Wharf would accommodate all the needs of the firm and much more by proving that it has the following:

• Highest-quality work environment i.e. more spacious.

• The firm’s clients can be adequately serviced from the location.

• The firm’s heritage of prestige and success would be conveyed to clients.

OPTIONS:

City of London-

Rental rates: £45-£55 (psf)

Average rental rate = (45+55)/2 = £50 (psf)

• Bishops gate (650,000 square feet) X £50 = £32,500,000

• Spitalfields Market, Bishops square (1,000,000 square feet) X £50 = £50,000,000

• “Village” or “Campus”

Canary Wharf- Key Incentives:

• Design flexibility to allow for growth and future subletting

• Ability to “fast-track build” to meet required timeline

• Take up existing lease

• New building

• Security

Rental rates: £33 (psf)

(1,000,000 square feet) X £33 = £33,000,000

CRITERIA:

| |Bishops gate |Spitalfield Mkt |Village or Campus |Canary Wharf |

| | |Bishops square | | |

|Expansion Flexibility |N |Y |Y |Y |

|Proximity to clients |Y |Y |Y |N |

|Rental rate |N |N |N |Y |

|Design Flexibility |N |N |Y |Y |

|Modern building quality | | |...