Speechly Bircham’s turnover tops £40m

Speechly Bircham has posted a 17 per cent increase in revenue for 2006-07, taking turnover to £40m for the first time.

Average profit per equity partner (PEP) was also up and is expected to be in excess of £525,000, compared with £465,000 last year.

Managing Partner Michael Lingens said: “We have achieved what we set out to do in our business plan, which was to grow the firm by 50 per cent in turnover and fee-earners over the three years to April 2007.”

Speechly’s property group performed particularly well, with a number of significant deals. These included a major portfolio sale and leaseback for the Royal Bank of Scotland, the £170m sale and leaseback of the London headquarters of PA Consulting and major lettings for Derwent London such as Horseferry House and the Johnson Building.

Private client saw a 25 per cent increase in fee income, while corporate advised on a £200m hotel fund and the launch of property investment funds with an aggregate value of more than £800m.

The firm also launched an IP, technology and commercial practice during the year following the appointment of the former heads of the London IP/IT practices of Faegre & Benson, Manches and Hammonds, respectively Robert Bond, Alex Carter-Silk and Paul Harris. Two additional lateral and two internal promotions took the total number of partners at Speechly to 60.

The year also saw Lingens and senior partner Alan Julyan re-elected unopposed for new three-year terms in management elections, and Speechly convert to limited liability status in November 2006.