PwC is opening a new headquarters in Cardiff, strengthening its presence in the capital.
- The company plans to create several hundred jobs by expanding its operations.
- The new office will occupy 33,500 sq ft in One Central Square, Cardiff.
- The move aims to support regional growth and improve social mobility.
- The initiative is backed by Welsh Government investment, focusing on digital and tech sectors.
Professional advisory firm PwC has announced the development of a new, larger headquarters in Cardiff, a strategic move aimed at expanding its operational capacity and supporting growth plans. This initiative might result in the creation of several hundred new jobs, significantly boosting local employment at their new premises at One Central Square, which is strategically placed near Cardiff Central Train Station.
PwC’s new Cardiff location will occupy two floors of the 135,000 sq ft office space, previously leased by MotoNovo Finance, extending over 33,500 sq ft. This expansion marks a noteworthy increase from their existing office space at One Kingsway, which currently accommodates around 500 employees. Although specific numbers remain undisclosed, there’s an expectation of a substantial uptick in employees in the coming years.
The relocation and office upgrade come with a hybrid working model, expecting to be fully operational by late 2025 or early 2026 after a comprehensive fit-out process. Notably, this move has reportedly set a new high for city rental prices at approximately £28 per sq ft, surpassing the previous rate of £25 per sq ft. Knight Frank’s Cardiff office facilitated the leasing deal on behalf of the building’s landlord, Aerium.
PwC’s investment in Cardiff highlights its continued commitment to regional development and social mobility. This move is part of a broader strategy supported by the Welsh Government to create skilled jobs with a particular emphasis on digital and technology disciplines. Such efforts aim to serve PwC’s global clientele while fostering local economic growth in Cardiff.
Local leadership views this initiative as a significant contribution to Cardiff’s economic landscape. John-Paul Barker, PwC’s regional market leader, emphasised the transformative impact of the Central Square development, aligning with the city’s ambitions for growth and modernisation. Meanwhile, Carl Sizer, head of markets at PwC UK, highlighted the strategic importance of accessing diverse talent pools and supporting sustainable growth.
Rebecca Evans, representing the Welsh Government, noted that this partnership highlights the commitment to improving job opportunities and strengthening the digital and technology sectors in Wales. The development embodies a collaborative approach to addressing inequality and promoting fair employment practices.
PwC’s strategic expansion in Cardiff symbolises a bold step towards fostering regional economic growth and development.