PwC in Paradise as it adds capacity for another 1,000 staff
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PwC is adding capacity for another 1,000 people in Birmingham after it agreed to extend its footprint in Paradise.
It has signed up for a further 60,000 sq ft in the £700m development, which is currently under construction.
Matthew Hammond, Midlands regional chair of PwC, said: “This is a significant move for PwC and one of the largest regional investments we have ever made in the UK.”
The professional services firm had agreed a 20-year lease in early 2016 for 90,000 sq ft at One Chamberlain Square and will now take all of the commercial space in the building.
The building will be the first in the development to be completed.
PwC expects to relocate its team in the summer of 2019. The advisory firm currently employs 1,400 people in Cornwall Court in Birmingham, and the new offices coule accommodate around 2,400 people.
Hammond added: “PwC is actively expanding its presence across the UK to match the changing footprint of its clients and make the most of new opportunities in fast growing regions like Birmingham and the West Midlands.
“One Chamberlain Square will be in the vanguard for our larger regional office model, operating as tech-enabled, flexible working environments that allow us to respond with real agility to deliver exceptional client value and a great working experience for our people.”
Designed by Eric Parry Architects, One Chamberlain Square is already making its mark on the city’s skyline and will reach its highest point later this month with the official building ‘topping out’.
As well as One Chamberlain Square, the second building at Paradise, Two Chamberlain Square, is now under construction and due to complete before the end of 2019. Designed by Glenn Howells Architects, Two Chamberlain Square is an eight-storey, 183,000 sq ft building that will prove to be a striking contemporary addition to Chamberlain Square.
At 1.8m square feet, Paradise will deliver up to ten new flagship buildings, offering offices, shops, bars, cafés, restaurants and a four star hotel across 17 acres of Birmingham’s historic civic centre. Demolition of the former Birmingham Conservatoire and Fletcher’s Walk is now underway to allow for phase two of the project to progress. A planning application for the first major office building in phase two, the 290,000 sq ft, 13 storey One Centenary Way, will follow shortly.
The Paradise redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council. The private sector funding is being managed by Hermes Investment Management which has partnered with Canada Pension Plan Investment Board (CPPIB) on the first phase of the development. Argent is the development manager.
PwC has been advised by CBRE and Squire Patton Boggs, with Paradise Birmingham (Hermes Paradise Circus Limited Partnership) represented by GVA and Berwin Leighton Paisner.