Professional advisory firm PwC has announced plans to establish a larger headquarters in Cardiff, Wales, in a move that is expected to generate hundreds of new job opportunities in the area. The company revealed that its new Welsh headquarters will be located at the One Central Square office building, forming part of the Central Square mixed-use development near Cardiff Central Train Station. PwC has secured a lease for two floors in the 135,000 sq ft building, taking over 33,500 sq ft of office space currently occupied by MotoNovo Finance.
PwC has been steadily increasing its workforce at its current Cardiff location in the One Kingsway office scheme, employing approximately 500 people. With the move to Central Square, the firm anticipates further growth in its workforce by several hundred employees over the coming years. The company is aiming for a transition to its new offices following a fitout, with plans to move in by late next year or early 2026. While the financial terms of the lease have not been disclosed, it is noted that the rent is expected to set a new standard for Cardiff at around £28 per sq ft.
Knight Frank, the Cardiff office of a property advisory firm, acted on behalf of the building’s landlord, Aerium, in facilitating the letting deal. Additionally, as part of its property evaluation process, car finance company MotoNovo is projected to take up space at the Two Central Square building from law firm Hugh James. PwC’s investment in Cardiff reaffirms its commitment to regional development and aligns with its efforts to enhance social mobility. The firm has previously announced a strategic investment programme supported by the Welsh Government, focusing on creating more highly-skilled roles in Cardiff across various specializations, notably in digital and technology sectors.
John-Paul Barker, PwC’s regional market leader for Wales and the west of England, expressed pride in reaching this pivotal milestone with the signing of the lease for One Central Square, highlighting the city’s economic potential. Carl Sizer, head of make at PwC UK, emphasised the company’s regional strategy as essential for addressing skill gaps and driving sustainable growth, while creating pathways to quality jobs for individuals from diverse backgrounds. The Welsh Government also welcomed PwC’s move to One Central Square, underscoring the positive impact on job creation and the digital and technology sector in Wales.
In conclusion, PwC’s decision to expand its presence in Cardiff reflects a significant vote of confidence in the city’s business environment and collaborative partnerships with key stakeholders. The move is poised to bolster employment opportunities, promote fair work practices, and contribute to the city’s economic advancement in alignment with Welsh Government initiatives for long-term prosperity and social development.