PROFESSIONAL services giant PwC is to take on all of the landmark Merchant Square development as part of the north's biggest ever private sector office deal.
The business advisors have confirmed they will occupy all of the £70 million Grade A office space on Wellington Place, which totals 201,000 sq ft.
PwC signed on as the anchor tenant for the office scheme last year and had been due to take up 155,000 sq ft of the refurbished space, due to open next year.
However, the company has now agreed a 20-year lease for the entire nine floors of office space at the building, providing accommodation for up to 3,000 staff.
Merchant Square is being developed by Oakland Holdings and represents a £70m investment.
Oakland Holdings managing director, Gareth Graham described the announcement of Belfast’s largest ever private sector office letting as a "massive vote of confidence" in the city centre.
“We are very pleased to be partnering with PwC in the development of Merchant Square, which is already changing the face of Belfast city centre," he said.
PwC Northern Ireland regional chair and head of UK regions Paul Terrington said the office move will facilitate further growth in the city.
“PwC Belfast is currently the biggest and fastest-growing office outside London, with close to 2,500 people supporting a wide range of global clients.
“We have ambitious plans for further growth and Merchant Square offers us an excellent mix of accommodation, convenience and proximity to transport links.," he said.
“We are also looking forward to moving back into the city and contributing to Belfast’s own ambitious growth proposals and supporting its City Deal initiative.”
Brian Lavery, the Belfast managing director of letting agent CBRE added:
“We have been delighted to work with Oakland Holdings in bringing their vision of Merchant Square to reality, and assisting in securing a global occupier, PwC, to this exceptional development.
Oakland Holdings had the courage and foresight to speculatively develop much needed Grade A office space in Belfast City Centre, a shortfall that CBRE had identified for a number of years.”
“Oakland Holdings, by demonstrating their expertise and ability to develop a building of this size, have been proven right by letting the entirety to a 'blue chip' tenant such as PwC, which is great for them and for Belfast.”
PwC will be joined in Belfast city centre by global services company, Deloitte, who earlier this year was confirmed as the anchor tenant at the £85m Bedford Square scheme.
The scheme, which is centred around the regeneration and refurbishment of the Ewart Building, is set to house 1,000 staff by 2022 and will be Deloitte’s largest UK office by headcount outside of London.
