PwC has unveiled plans to relocate its UK headquarters from Embankment Place to a newly secured 350,000 sq ft space in Canary Wharf. The move marks a significant expansion of the global professional services giant's London presence, with 5,500 staff set to be based at the new site by 2030.
The decision follows an extensive review of potential locations across the capital and is primarily driven by the impending major refurbishment of PwC's current headquarters at Embankment Place. The project, expected to last until 2030, will necessitate a relocation, with the firm also needing to vacate its City office lease at More London in 2035.
Marco Amitrano, senior partner of PwC UK, welcomed the move, highlighting the importance of London as a global centre for professional and financial services. He praised Canary Wharf's growing reputation as an international hub, saying it will provide "an excellent environment" for staff and clients alike.
The development is the latest in a series of significant investments in the area, with JP Morgan set to build its largest presence outside the US at Canary Wharf, while Barclays has secured a 999-year lease on its tower. The building PwC will occupy, One Eden, currently serves as Citigroup's European headquarters and has previously accommodated additional staff during the £1 billion overhaul of the adjacent 25 Canada Square.
Canary Wharf is increasingly cementing its status as one of the world's leading international financial and professional centres. The area continues to attract significant investments, with a number of major corporations establishing themselves in the district. PwC's relocation will further enhance the area's appeal, positioning it as an attractive location for businesses seeking to establish a presence in London.