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Lloyds Banking Group confirms new hub in South Wales for 3,000 staff

2025-04-05 10:40:41 By

Lloyds Banking Group is creating a major new hub at the soon to be completed John Street office scheme in the centre of Cardiff that will house more than 3,000 staff.

In the biggest office letting deal in Wales since Covid, the bank has agreed a 10-year lease to take the entire 110,000 sq ft building, where construction work from developer JR Smart is scheduled for completion in September next year.

The new office, which Lloyds plans to occupy following a fit-out of the building in the second quarter of 2026, will house existing staff based in Newport and those currently just yards from John Street at St William House.

Lloyds said there would be no reduction in staffing numbers by bringing its current Cardiff and Newport operations under one roof.

Able to accommodate 3,100 staff, the hub will have its own cafe. Lloyds staff in the two cities consist of various teams providing customer service and support services to many parts of the group.

John Street, which will also feature a roof terrace, was marketed on behalf of JR Smart at £30 per sq ft by the Cardiff office of property advisory firm Knight Frank. It is understood that the rental agreement was close to the asking price. CBRE acted for Lloyds.

Sharon Doherty, chief people and places officer, Lloyds Banking Group said: “We’re thrilled to announce our move to John Street in Cardiff, boasting industry-leading sustainability credentials and offering modern, state-of-the-art facilities for our people and reaffirming our commitment to the city. To successfully deliver for our customers and help Britain prosper, we are creating the right spaces for our colleagues to work together and thrive.

“Cardiff is one hub, alongside Birmingham, Leeds, London, Belfast, Edinburgh and Manchester, to benefit from the significant investment we’re making to transform our workplaces for colleagues and to attract the talent of the future.”

John Street has been designed to BREEAM Excellent certification for its sustainable and energy efficient design.

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Commercial Property2025-04-05 10:40:41

Ardent relocates Birmingham team to new base

A development consultancy has relocated its Birmingham team to a new home in the city. Ardent, which specialises in land, consent management and stakeholder engagement, has moved to Northspring in Temple Street from The Colmore Building. The firm works on consenting and delivering projects across the transport, renewables, utilities and regeneration sectors. It employs around 50 staff in Birmingham and 200 across its portfolio of offices in London, Leeds, Warrington, Dublin and Glasgow. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Group managing director Jonathan Stott said the move was part of the company's wider growth strategy and to offer the best possible working environment to colleagues. He said: "We support the delivery of some of the most important developments across the UK through the expertise of our people across all of our teams. "It has led to very strong growth over the past couple of years and we are planning to grow the team even further in Birmingham and across our other locations too. "Northspring offers us a fantastic space for the team to be able to come together in one place, to collaborate and to offer the very best service to clients.

Commercial Property2025-04-05 10:40:41

Demolition team appointed to flatten derelict police station and pave way for new development

A demolition team has been hired to demolish the former Bonny Street Police Station and Magistrates' courts in preparation for new developers at the Blackpool Central site. The clearance process, which will include Chapel Street car park and the old joke shop on Central Drive, will be led by DSM Demolition. Work is set to begin in the new year and may take up to six months. During this period, the 15-acre council-owned plot will be marketed globally to attract fresh investment after the departure of the previous developer, Nikal, which had plans for hotels, restaurants and indoor theme parks. The council has terminated its land sale deal with Nikal but will retain £4.5 million from the original agreement signed in January 2020. A multi-storey car park with a 1,306-space capacity recently opened at the site, with an option for the council to acquire it for a nominal sum in the future, reports Lancs Live. The leader of Blackpool Council, Coun Lynn Williams, said: "Blackpool Central sits right at the heart of our plans to make Blackpool better for everybody. We're committed to attracting a world-class leisure development that creates jobs for our local people, extends our tourism season to be all year round and supports our local economy to grow. "In the last five years at Blackpool Central, we've made more progress on this site than the 50 years before it since the Blackpool Central train station closed in the 1960s, largely paid for by the private sector without risking council tax payer's money." She added: "The road to regeneration isn't always smooth but we will not stand still. We will continue our plans to demolish the courts and the police station early in the new year in order to create a shovel-ready site for a new leisure attraction. "We have very high standards for the type of attraction which this site needs and any future scheme will have to match those ambitions. To deliver on that we need serious investors and we will be heavily marketing this opportunity to get that international calibre of attraction." The demolition costs will be covered by the £6.95m allocated to the project from the previous government's Levelling Up fund.

Commercial Property2025-04-05 10:40:41

£2m boost from Metro Mayor's office to revamp town centre - promising economic growth and new jobs

The Huyton Village regeneration project has received a significant boost with a £2m investment from Metro Mayor Steve Rotheram's office. This funding forms part of the ambitious £163m Huyton Village scheme, which is set to bring numerous economic and social benefits to the town centre and wider Knowsley area. The plans aim to revitalise Huyton's town centre by introducing a blend of leisure, retail, residential, and office spaces. The initial phase will concentrate on creating 72 affordable homes, a 130-bed hotel, commercial office space, a community hub and library. The proposal includes the demolition of old council buildings, freeing up nearly seven acres of land for future development. The Huyton Village project is projected to generate £62m for the local economy and will continue to evolve, according to the Metro Mayor's office. They also confirmed that further phases will soon be initiated, including more commercial space and an additional 300 new homes. The £2m from Liverpool City Region's combined authority will fund the purchase and refurbishment of properties on Cavendish Walk, with further plans to create temporary office space for relocated council staff. This will facilitate the development of a new, modern 'village green' and energy-efficient office building, including the seven-storey Huyton Municipal Building. , reports the Liverpool Echo. Steve Rotheram expressed his enthusiasm for the project and said: "We've shown in Kirkby and Prescot what we can achieve when we work together-and now it's Huyton's turn." He continued: "This investment isn't just about new buildings - it's about creating homes, green spaces, and better facilities that will bring jobs and businesses back into the town centre." As part of the plans, the Cenotaph will be relocated to a new village green. A cutting-edge transport hub will be constructed at street level to replace the current multi-storey car park, featuring electric vehicle charging points and secure cycle storage. This element of the project will be funded through a bid to the City Region Sustainable Transport Settlement. Knowsley Council Leader Cllr Graham Morgan added: "We're delighted to have the support of the Combined Authority to drive this transformative project forward. This is a huge step in our plans to deliver lasting economic and social benefits to Huyton and the wider region."

Commercial Property2025-04-05 10:40:41

Angry residents told their objections to controversial office-to-residential plans are 'not applicable'

Residents living near the Sale Point office block in Sale have been told that their objections to its conversion into 80 apartments 'are not applicable'. The locals, who live adjacent to the six-storey building on the A56 Washway Road - a key route from Altrincham into Manchester - argue that the development will exacerbate existing traffic and parking issues. They have also expressed concerns about the ability of local schools and doctors' surgeries to accommodate the influx of new residents. The plans to transform the 1970s building are currently under review by Trafford council's planning officers. However, as the conversion falls under 'permitted development' regulations, the decision will be made by planning officers, not the borough's planning committee. The final decision is still pending. In this week's committee meeting, a separate application was approved for the replacement of all windows and frames at Sale Point, additional window openings, and the installation of Juliette balconies, seemingly paving the way for the eventual approval of the conversion. Despite this, 15 letters of objection were received from neighbouring residents, highlighting concerns over the impact on the highway network, local services such as doctors' surgeries and schools, and ongoing parking issues. Nevertheless, a report to the committee stated that the applicant, Blueoak Estates Ltd's plan, was 'in line with local, regional and national policies', reports the Manchester Evening News. "The proposal is considered to have been designed appropriately and will not have any unacceptable impact on the amenity and quality of life of adjacent residents," the statement read. Trafford's major projects planning officer, Sarah Lowes, informed councillors of a 'separate and pending' change-of-use application from office to residential that falls under 'nationally set permitted development rights', which officers have 'fully delegated' authority to decide upon. Councillor Simon Thomas highlighted that the ongoing use of the building wasn't being scrutinised by the planning committee. "I can see no reason, without much debate, why we can't agree with the officers' recommendation to approve it," he said. Councillor Mike Cordingley concurred, but added: "I can understand why the residents feel that the planning system isn't working for them. I can see why they've objected. Those objections are not applicable to this application, and so we're doing the right thing by allowing it. "But that doesn't remove the feeling of unease that this is not working for them and that they've got an opinion that needs to be heard. I'm just putting it on record, that I hear what they're saying." During discussions earlier in the day with the Local Democracy Reporting Service, residents expressed their concerns. A resident of Westbourne Grove, who chose to remain anonymous, said "The major issue here is around parking. There are not going to be anywhere near enough parking spaces for the people living in that block." Discussing past difficulties before residential parking permits and a two-hour waiting restriction were introduced, they said these measures were necessary due to 'a lot of problems'. Another local voiced frustrations, commenting: "The traffic around here is horrendous. We feel like we are prisoners here sometimes." Residents from surrounding streets including Westgate, Walnut Grove, Barkers Lane, and St Mary's Road also lodged complaints. A Westgate inhabitant was apprehensive about privacy, stating: "We will be overlooked directly by the apartments. They will be able to look directly into our rooms and gardens. There will also be an increase in illegal and obstructive parking. "There are already difficulties getting out of the Barkers Lane/Washway Road junction. There is also limited capacity for local schools and GPs."

Commercial Property2025-04-05 10:40:41

Holiday Inn proposes major redesign for Hull property

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Commercial Property2025-04-05 10:40:41

Landsec buys majority stake in Liverpool One shopping centre for £490m

Property giant Landsec has acquired a controlling stake of 92 per cent in Liverpool’s largest shopping destination, Liverpool One, as part of its strategy to expand its retail portfolio. The company purchased the stakes from the Abu Dhabi Investment Authority (Adia), which owned 69 per cent, and Grosvenor, which held 23 per cent, for a total of £490m. This acquisition follows months of negotiations, with Adia previously withdrawing from a £350m deal to sell its stake in Liverpool One to Landsec earlier this year. With this latest addition, Landsec's retail portfolio now encompasses seven of the top 30 centres in the UK, including Trinity Leeds and Bluewater in Stone, Kent, as reported by City AM. Landsec CEO Mark Allan expressed his delight at the purchase, stating it was an opportunity for the firm to capitalise on the trend towards high-quality physical retail spaces. "The top one per cent of the UK’s shopping destinations provide brands with access to 30 per cent of all in-store retail spend, which is why we continue to see brands focus on fewer, but bigger and better stores in the best locations," he said. "As such I am delighted that we have added another top-ten centre with a highly attractive return profile." Earlier this year, Landsec returned to profitability following a rebound in occupancy and rental income in London, again highlighting a particular trend from brands towards fewer, larger and superior stores, with "significant upsizes and lettings" from leading brands such as Primark, Pull&Bear, Bershka, Sephora and JD Sports. James Raynor, CEO of Grosvenor, commented: "[Liverpool one is] not only one of the most remarkable regeneration stories, re-defining what long-term investment and partnership can achieve, it continues to be one of the UK’s most successful retail and leisure destinations."

Commercial Property2025-04-05 10:40:41

Gary Neville says ‘leap of faith’ paid off as No 1 St Michael’s in Manchester is fully let before building work completes

Footballer turned property developer Gary Neville says he’s proud of the “leap of faith” taken by his company Relentless Developments as its flagship office building is now fully let before it is even completed. Relentless started work on the 100% speculative development in 2022 and has since secured six office tenants and three food and drink operators. It has three times set a new headline rent for offices in the city. The business calls No.1 St Michael’s “the best new office development outside London” and says this is “the first time in 15 years a speculative office building of this scale in Manchester has been fully let prior to practical completion”. Last month investment bank Cavendish announced it was opening its first office in Manchester and would be moving into No.1 St Michael’s in spring. In October Channel 4 confirmed it was to take 12,293 sq ft of space at No. 1 St Michael’s. The scheme, set to open in late spring 2025, has been delivered by Relentless and investment firm KKR, supported by Manchester City Council. Bowmer & Kirkland started work on the building in January 2022. OBI Property, CBRE and Metis Real Estate are instructed to support Relentless with letting the commercial space, while Kuits Solicitors has provided legal advice. Gary Neville, director at Relentless Developments, said: “It was a huge leap of faith to speculatively-build a development in excess of 200k sq ft but we’ve always been confident in our ambition for the building. We spent a great deal of time understanding what modern occupiers want from an office and ensured we carefully selected the right amenities and F&B operators into the development. We also recognised sustainability was crucial and invested heavily in time and capital to ensure our ESG credentials met the aspirations of our tenants. “Achieving fully-let status ahead of completion is thanks in no small part to the world-class partners we’ve had supporting us along the way; KKR and Manchester City Council for remaining committed to our vision, our tenacious agent partners for marketing the scheme’s potential and B&K for the beautiful building we’ve created. I’d also like to thank all our tenants for their trust in our ability to set new standards in quality, aesthetic and experience for office working here in Manchester.” Nicky Barker, head of asset management in KKR’s European Real Estate team, said: "In today’s market, top tenants expect world-class sustainability, a prime location and distinctive amenities – these have become crucial drivers of long-term value. This was the vision we shared with Relentless when collaborating on the development of St. Michael’s, a vision now affirmed by the project's success in setting new benchmarks for Manchester’s real estate market." Relentless will soon launch another 80k sq ft of office space at the neighbouring No. 2 St Michael’s.

Commercial Property2025-04-05 10:40:41

Construction begins on new business units at Blackpool Airport Enterprise Zone

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Commercial Property2025-04-05 10:40:41

Manchester's Hotspur Press redevelopment stalled by listing bid that developer warns could 'potentially condemn' the site

The refurbishment of the landmark Hotspur Press Victorian printing mill in Manchester city centre has been put on hold due to a pending listed building application – with the developer criticising the length of time the process is taking. The mill, which ceased printing operations in 1996, has fallen into disrepair and has seen numerous stalled attempts at renovation, including a plan to transform it into a 171-home, 28-storey flat block. Despite receiving planning permission in 2020, construction never commenced, leaving the mill to further deteriorate. There was new hope earlier this year when a new developer, Manner, received council approval for its redevelopment plan. The proposal includes preserving the mill's facade and iconic 'Percy Brothers' signage while constructing a 36-storey student housing tower with 595 bedrooms and a new public square. Planning permission was granted in May, but work has yet to begin on Cambridge Street due to an anonymous listed building application that has halted the construction of the student towers. The application was submitted in late summer and is still under consideration by the government body responsible for listed buildings, which has confirmed receipt of Historic England's opinion on the matter. Typically, a listing request decision takes 12 working days, but in the case of the Hotspur Press, it has been months, leading developers to express their frustration with the government, reports the Manchester Evening News. Richard James, the boss at Manner, said: "We are calling for the urgent need to decide on the listing process for The Hotspur Press. "It has now been three months since Historic England issued its report to the Secretary of State and well over the 12-day average response time that DCMS state. "As a result, the listing process has created significant delays to the redevelopment plans. We have always wanted to do more than just save this iconic building: we want to create a place the local community can be proud of. "If The Hotspur Press is listed, it will not save it. All it will do is potentially condemn the future of this wonderful building and its history, and have the community lose out on the public realm benefits that they want." In response, a government spokesperson said that a decision will be made 'in due course'.

Commercial Property2025-04-05 10:40:41

From dentistry to the Yorkshire Dales: family firm changes career to acquire camping and guesthouse business

A family firm is swapping dentistry for tourism, after snapping up a Yorkshire Dales camping and guesthouse business. Peter and Teresa Wakefield have acquired Colman’s of Aysgarth, a 1.7-acre site set within the Wensleydale hills of Aysgarth offering boutique guesthouse accommodation, a touring caravan park and campsite, as well as residential accommodation they will now turn into their new home. The deal – completed for an undisclosed sum – represents a career change for Mr Wakefield and their son Harry, who have until now worked as dentists. Peter Wakefield will be managing the guesthouse business while his son manages the campsite operations. Newcastle law firm Hay & Kilner LLP acted for the Peter and Teresa Wakefield on their acquisition of the business, based close to the village of Aysgarth, Aysgarth Falls and a number of walking and cycling routes. The site is set along the Herriot Way, a popular four day, 52 mile walk, which runs through the lower end of the property, and it has been recognised with several awards, including Best Certificated Site, Warmest Club Welcome and Family Friendly Site in 2019 and Warmest Club Welcome 2022 by the Camping & Caravanning Club. Hay & Kilner’s corporate team provided legal advice on the acquisition to the couple, acting simultaneously for them in the sale of their home, which was used to part-fund the transaction. Peter Wakefield said: “We are absolutely thrilled to be the new owners of Colman’s of Aysgarth. It’s a complete career change from our former life in dentistry but we’re looking forward to our new life in the country and welcoming guests to this beautiful part of Yorkshire. As keen motorcyclists we also hope to attract bikers in the future and offer local tours. “Thanks to the team at Hay & Kilner for their support in allowing us the opportunity to purchase this wonderful site.” John Morgan, partner at Hay & Kilner, said: “We are very pleased to support Peter and Teresa on both the acquisition of the business and sale of their residential property demonstrating the variety of services that Hay & Kilner can offer. “This sale demonstrates that the hospitality and leisure sector remains buoyant and the demand for businesses in the sector continues despite the challenges around operating costs. We wish them well for their new venture providing quality accommodation for the Yorkshire tourist and leisure economy in a stunning environment.’’ David Lee of Christie and Co advised the sellers and they were represented by Ian Barker and Karolyn Scott of BHP Law.