Is PwC heading to Paradise?

SPECIALIST property news site CoStar is reporting that accountancy and advisory firm PwC is on the verge of agreeing a large pre-let deal at the as yet unbuilt Paradise scheme in central Birmingham.

It is known that PwC – currently based in Cornwall Street – has been looking for a signature headquarters building in the city for some time but with rivals KPMG, Deloitte and EY basing themselves at Snowhill, Brindleyplace and Colmore Square respectively, its options have been limited.

Now it appears it is willing to wait for the right building to come along by becoming the first office occupier to commit to the £500m Paradise scheme, which is being built on the site of the former Central Library and Paradise Forum retail and leisure scheme between Chamberlain and Centenary Squares.

CoStar is reporting that Hermes and Argent are on the verge of signing PwC up on a 75,000 sq ft pre-let deal at the scheme.

Construction on the first office building at Paradise – One Chamberlain Square – will begin in spring 2016, with practical completion scheduled for the end of 2018.

PwC has a lease expiry in 2019 at 19 Cornwall Street on the 80,000 sq ft it currently occupies there.

CoStar reports that all parties concerned refused to comment.