100 Liverpool Street, image provided by Milbank.

U.S. firm Milbank is set to move to a larger London office in 2021, as it looks to accommodate its quickly expanding team.

The firm's new home will be at 100 Liverpool Street and the firm will occupy 30 percent more space than it currently has.

It will take 70,000 square feet at the new development, due to open this year, and will also have the option to take further floors in the future.

The firm currently leases 54,000 square feet of space at its 10 Gresham Street base, where it has been since 2006.

The move comes after a period of expansion for the London office.

Significant hires in 2018 included a heavyweight four-partner London team led by restructuring star Yushan Ng from Cadwalader Wickersham & Taft in January, and highly-rated high yield partner Apostolos Gkoutzinis from Shearman & Sterling in the same month.

Last month, the firm's London office announced a 25 percent hike in its London revenues, which co-managing partner Julian Stait said was partly due to the team hires made last year.

The firm's London turnover hit $156 million in 2018, up from the previous year's figure of $125 million.

"The growth and success of our London practice is testament to our exceptional lawyers and culture of cooperation and collaboration," Stait said in a statement. "Cross-team working is part of our DNA and allows us to handle our clients' most complex transactions and solve their business challenges. We are looking forward to moving into exceptional space at 100 Liverpool Street, which will further enhance our ability to exchange ideas and solve problems as a team."