Professional advisory firm PwC has announced plans to establish a new, larger headquarters in Cardiff to support its expansion goals. The firm anticipates creating several hundred new jobs in the capital as a result. PwC’s new Welsh headquarters will be located at the One Central Square office building, part of the broader Central Square mixed-use development near Cardiff Central Train Station. The firm has secured a lease for two floors within the 135,000 sq ft building, with the space covering 33,500 sq ft previously occupied by MotoNovo Finance.
PwC has been steadily increasing its workforce at its current Cardiff location in the One Kingsway office scheme, where it presently employs around 500 staff. The firm foresees this number growing by several hundred in the coming years at Central Square. Following the fitout of its new offices, which will operate on a hybrid working model, the move to the new premises is expected by late next year or early 2026. While specific details of the rental agreement remain undisclosed, reports suggest a headline rent of around £28 per sq ft for the city, surpassing the previous level of £25 per sq ft.
In facilitating the lease agreement, property advisory firm Knight Frank acted on behalf of the building’s landlord, Aerium. Concurrently, car finance company MotoNovo is projected to take over space at the adjacent Two Central Square building. PwC’s decision to relocate its office and invest in Cardiff underlines its commitment to regional growth and social mobility objectives. The firm previously announced a partnership with the Welsh Government to create more high-skilled jobs in Cardiff, with a focus on digital and technology sectors.
John-Paul Barker, PwC’s regional market leader for Wales and the west of England, expressed pride in the firm’s milestone achievement, emphasising the significance of the move in bolstering Cardiff’s economic development. Similarly, Carl Sizer, head of make at PwC UK, highlighted the strategic importance of regional investments in fostering skills development and sustainable growth. Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, commended PwC’s expansion in Wales, citing the positive impact on job creation and the local technology sector.
Mark Lock of Knight Frank praised the attractiveness of One Central Square as a premier office location with strong environmental credentials. The move by PwC to establish a larger base in Cardiff represents a pivotal moment in the city’s ongoing transformation and aligns with efforts to enhance job opportunities and digital innovation. PwC’s investment underscores its confidence in Cardiff’s future as a vibrant business hub supported by collaborative efforts from key stakeholders.