The UK-listed investment and wealth management house Rathbone Brothers said it has expanded its London operations by moving to a new address at 1 Curzon Street in London’s Mayfair district and is expected to incur a non-recurring charge of up to £5 million (around $8 million).

The firm will move from its existing premises in New Bond Street by the end of February next year, it said in a statement today. It has exchanged contracts for a 12-year lease of 42,2000 square feet of office space, increasing the firm’s effective office space capacity by around 10 per cent.

In February, Rathbone Brothers said underlying pre-tax profit rose by 18.8 per cent to £38.5 million (around $62 million) in 2010 from the year before, while profit from continuing operations was £30.1 million, a rise of 20 per cent over that period.