The London office of Penningtons Manches LLP is moving into five floors of the striking new office scheme undertaken by Orchard Street Investment Management at 125 Wood Street, London EC2. The move, which is being carried out in a number of phases between now and 24 August, will bring together the London partners and staff based in the firm’s Gutter Lane and London Wall offices under one roof for the first time since Penningtons and Manches became one firm in October 2013.
The move coincides with Penningtons Manches’ reported increase of more than 23% in fee income in the latest financial year. The firm’s turnover climbed to £57.5 million in 2014-2015, representing a significant rise from the previous year when fee income was £46.6 million. Overall profit has risen by more than 40%.
These new figures reinforce a period of steady growth for the firm, which has now posted an increase in turnover for the sixth consecutive year. During this time, the number of partners has risen from 55 to 111. The number of lawyers and other professional advisers at the firm has reached 355.
David Raine, chief executive of Penningtons Manches LLP, said: “This is an encouraging performance and one in which all our offices and practice groups have played their part.”
At the end of June, Penningtons Manches also took on larger premises in the recently completed Grade A office redevelopment at 31 Chertsey Street, Guildford creating a Surrey team of more than 100 partners and staff from the Godalming and previous Guildford offices.
Commenting on the moves, David Raine said: “Both of these moves into state-of-the-art new offices reflect our confidence in the continuing future growth of the firm as well as our commitment to providing an enjoyable, efficient and energising work environment for our staff and clients.”
Penningtons Manches' London team can be contacted at Abacus House until 17 August and from then onwards at Wood Street. Telephone and fax numbers will remain the same after the move.