PwC, the global professional advisory firm, has confirmed plans for a new headquarters in Cardiff, which could lead to the creation of several hundred new jobs. The firm is moving to a larger office at One Central Square, part of the major Central Square development near Cardiff Central Train Station.
PwC has secured a lease for two floors in the 135,000 sq ft One Central Square building, occupying 33,500 sq ft of space currently held by MotoNovo Finance. The move is part of PwC’s expansion strategy to accommodate growing staff numbers in the Welsh capital. The firm currently employs around 500 people at its One Kingsway office and expects to increase that by several hundred in the coming years.
The new office will operate under a hybrid working model, and PwC is expected to relocate late next year or in early 2026 after the space is fully fitted out.
Economic Impact and Regional Strategy
PwC’s decision to invest in Cardiff aligns with its broader goals of improving social mobility and supporting regional growth. Last year, the firm announced a Welsh Government-backed investment programme aimed at increasing highly-skilled job opportunities in the city, particularly in digital and technology services.
John-Paul Barker, PwC’s regional market leader for Wales and the West of England, highlighted the significance of the move: “Signing the lease for One Central Square is a significant moment for PwC in Wales. The Central Square development has transformed Cardiff’s city centre, with high-quality offices providing a new focal point for businesses that illustrates the city’s ambition to grow and modernise.”
Focus on Skills and Productivity
PwC’s investment in Cardiff is seen as part of a wider effort to support sustainable growth across the UK’s regions. Carl Sizer, head of markets at PwC UK, noted the importance of regional development: “Our regional strategy is fundamental to our purpose and our success – it’s how we play a leading role in redressing gaps in skills and productivity across the UK and drive long-term, sustainable growth in places like Cardiff.”
The move is also expected to set a new rental benchmark for Cardiff, with PwC’s deal reportedly pushing the city’s headline rent to £28 per sq ft, surpassing the previous high of £25 per sq ft.
Broader Developments at Central Square
The Central Square development continues to be a focal point for business growth in Cardiff. MotoNovo Finance, which is vacating the space PwC will take, is expected to relocate to Two Central Square, sharing space with law firm Hugh James.
With PwC’s investment, Cardiff’s Central Square is set to further establish itself as a hub for business, innovation, and job creation in Wales.
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