Wragge & Co LLP Real Estate group has advised DTZ, one of the leading global commercial property advisors, on its lease for new global headquarters in the City of London.

DTZ has agreed a lease for 125 Old Broad Street, a development by Hammerson plc, GE Capital and Bank of Ireland, in the City of London. DTZ will occupy the first four floors and part of the fifth floor comprising 76,250 sq ft. The team also advised DTZ on its exit strategy which results in DTZ consolidating its current five central London offices to three – 125 Old Broad Street, One Curzon Street and 48 Warwick Street. Following the re-organisation, half of DTZ's London-based staff will be located in the City.

Partner Peter Thorne said: "New headquarters for DTZ in the heart of the City speaks volumes about the company's continued success and confidence in its business. Advising on a high-profile move for a leading name in real estate enhances our relationship with DTZ and highlights our reputation as a first-class provider on strategically important transactions."

Colin Manders, director at DTZ said: "This lease represents a major investment in our core infrastructure. We needed a firm with proven technical skill and ability. Having worked with Wragge & Co before we were certain they had the expertise to make this project a success. DTZ has swapped exposure to potential rents on review in Mayfair in excess of £100 per sq ft, by implementing successfully with Wragge & Co a complex multi-faceted property strategy. The result will both improve our working conditions and reduce our costs. Our move is self financing and cash flow positive over the next five years. We will have a blended central London rental cost of just over £60.00 per sq ft."

Peter Thorne led the Wragge and Co team, which included construction partner Richard Green, director Teresa Kamppari Baker and tax associate Peter Cosmetatos. Sarah Thompson, assisted by Suzanne Lloyd Holt and Paul Barker, advised on DTZ's exit strategy. Nick Turner of Herbert Smith and Digby Flower of CBRE acted for Hammerson.

DTZ is a global real estate adviser providing innovative real estate, capital markets and business solutions worldwide. In 2007 it appointed Wragge & Co's Asset Management team to handle the strategic management of its UK property portfolio. In July 2007 Wragge & Co's Real Estate group advised DTZ on its acquisition of Donaldsons LLP.

Wragge & Co's 27-partner national Real Estate Group is one of the largest full-service real estate teams in the UK. It advises major private and public organisations on matters ranging from asset management to commercial development; planning to tax; and litigation to regeneration. According to the Chambers Client Report 2008 FTSE survey, Wragge & Co Real Estate group is ranked as the joint third largest adviser to the FTSE 100 and joint fifth to the FTSE 250. As of 1 May three new partners, planning specialist Karen Howard and commercial development and investment experts Toby Askin and Jonathon Wilkes, join the team.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Matthew Purcell on +44 (0)121 213 2360

This press release may contain information of general interest about current legal issues, but does not give legal advice.