DAC Beachcroft (DACB) has confirmed the location of its new global headquarters as it gears up to move into The Walbrook Building near the Bank of England next year.

The move will bring together staff from the firm's two existing London offices under one roof in EC4 in spring 2019.

DACB currently has 53,098 sq ft and and about 20,000 sq ft in its bases at 100 Fetter Lane and 1 Minster Court.

The firm – which in 2011 had five offices in the City – is taking up 50,000 sq ft of space on a single floor of The Walbrook, which will house approximately 400 employees.

The firm said it would be able to fit its workforce into a smaller combined area due to the new base's open-plan layout, which it described as "more efficient than cellular space spread across a number of very small floorplates".

The firm's aim is to create a "more IT-enabled" environment that supports collaborative and flexible working.

DACB senior partner Virginia Clegg told Legal Week: "It's a very exciting moment for us. It's a fabulous building, light and airy, and a real landmark in the city."

In July of this year, DACB announced an 11% increase in annual revenue – from £207m to £230m – and a 40% increase on 2017 bonus payments to staff. PEP also surpassed £500,000 for the first time, while profits hit £47m.

Clegg explained: "There is increasing demand for our services, and our move to The Walbrook recognises the importance we place on having a strong London presence. We intend the new headquarters to also serve as a springboard for our strong regional network and international offices as well. It will deliver an environment that reflects our brand and ambitions."

Last year, the firm voted through changes to its members agreement to make partner pay more flexible, as part of a far-reaching review of governance.

Managing partner David Pollitt added: "We continue to invest in building an innovative and inclusive law firm. Over the year we welcomed 30 new partners, a COO and a head of responsible business. We introduced a new members' agreement and we are developing a new practice management system – we are in good shape."