Wragge & Co's highest-paid partner took home £734,000 in 2010-11, up from £444,000 the preceding financial year, according to accounts recently filed with Companies House.

The UK top 25 firm's audited turnover was £112.9m, up from £98.2m in 2009-10, but reported operating profit fell from £30.2m to £28m due to a one-off £10.5m property expense. Operating profit before the property cost stood at £38.6m.

Managing partner Ian Metcalfe said the firm has set aside the £10.5m in an accounting provision relating to the firm's forthcoming move into new Birmingham headquarters in 2014.

The national leader, which will take on around seven floors in Two Snowhill, had initially intended to move into the building in 2011; however construction was delayed due to the recession.

Metcalfe (pictured) said: "It's an unfortunate accounting requirement related to future costs rather than current costs," he said. "It's hugely frustrating from our perspective, as it risks masking our success and people thinking we didn't have as a good year as we did."

He added that significant incentives negotiated on the office to be occupied more than offset the £10.5m provision, with the firm signing up to a lengthy rent-free period.

Property services company DTZ is helping Wragges mitigate the costs of concurrent rents, with sub-letting one of the options under consideration.

Wragges' accounts show that average remuneration per partner stood at £235,000, down from £276,000, as a result of the property cost. Without the exceptional cost, average profit share would have stood at £324,000 – consistent with the profit per equity partner figure released by Wragges.

The number of legal staff at the firm increased by 33 to 479, with an additional nine administrative staff taking total employee numbers to 958. Staff costs climbed almost £3m to £43.5m, of which pension expenses made up £1.4m. Cash at the bank and in hand rose from £6.9m to £11.3m.

Other national firms to have filed accounts this month include Eversheds and legacy Beachcroft.

Eversheds' highest-paid partner is expected to earn £967,000 for the year, compared with £872,000 in 2010, although revenue slipped back slightly to £354.5m. The accounts showed Eversheds' Middle Eastern acquisition of law consortium KSLG cost the firm £6.4m, an investment which has expanded its presence in Iraq, Jordan, Saudi Arabia and Dubai.

Meanwhile. DAC Beachcroft, formed through a merger between Beachcroft and Davies Arnold Cooper (DAC) in late 2011, awarded its highest-paid partner £579,000, down from £615,000 last year, while average PEP rose 8% to £338,000.