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NatWest to Relocate Welsh Headquarters to One Central Square in Cardiff
NatWest is set to move its Welsh headquarters to the One Central Square office building in Cardiff, marking a significant shift from its current location at One Kingsway. This transition will also bring the bank’s private banking and wealth management business, Coutts, under the same roof, alongside a newly established business start-up support accelerator hub.
The new offices will occupy a floor in the fully let 136,000 sq ft building, previously home to law firm Blake Morgan, which remains in the building on a reduced footprint.
Paul Thwaite, chief executive of NatWest Group, stated that the investment in the new head office is a testament to the bank’s confidence and commitment towards Wales. He highlighted the importance of having expert teams that understand the needs of Welsh customers, aiming to support economic growth and unlock opportunities for local ambitions.
Jessica Shipman, chair of the NatWest Cymru board, noted that the central location of One Central Square positions the bank to effectively support the Welsh economy and its entrepreneurs. She emphasised NatWest’s long-standing presence in Wales and its dedication to assisting customers, businesses, and communities in achieving success.
The new Cardiff office will span 7,000 sq ft, providing desk space for up to 70 employees, as well as a client meeting and event suite. This relocation follows a trend, as PwC recently moved its Welsh headquarters into One Central Square, taking over 33,500 sq ft previously occupied by car finance firm Motonovo, which now accommodates around 400 staff.
Siwan Rees, NatWest accelerator manager, remarked that the move is indicative of a new chapter for NatWest Cymru and the entrepreneurs it supports, providing a modern space for Welsh businesses to connect and innovate.
Renovations for the new offices have commenced, with NatWest expected to occupy the premises by the final quarter of this year. Adam Price, Cabinet Minister for Enterprise, Connectivity and Energy, expressed that the decision to establish a headquarters at One Central Square highlights a strong confidence in Cardiff’s property market and Wales’ overall economic landscape.
One Central Square is owned by Middle Eastern investors and managed by property advisory firm Knight Frank, which acts as the letting agent.
