HSBC To Move HQ from London to Birmingham
1,000 HSBC bank staff will be housed in a new 21,000 sq ft office complex at Arena Central in Birmingham with the development of the site anticipated to start around June 2015.
Antonio Simoes, Chief Executive Officer of HSBC UK, said: “We have been looking at options for the head office of our ring-fenced bank for some time.
“It became clear to us that Birmingham would be the right location.
“The city is close to London, but also brings us within easy reach of our 16 million customers based across the UK.
“Birmingham is a vibrant, growing city that has the expertise and infrastructure to support our ring-fenced bank and brings us a step closer to our ambition of being the bank of choice in the UK.”
Miller Developments is responsible for the Arena Central site who will lease the building back to HSBC on a 250 year leasing arrangement.
Chief Executive Phil Miller said: “HSBC’s commitment to Birmingham is great news for the city and their choice of 2 Arena Central is a tremendous boost for the development.
“This will enable us to push ahead with realising the full scale of the scheme and deliver HSBC’s requirements and our vision for this key site in the heart of the Enterprise Zone.”
This is the latest announcement in a serious of developments, deals and commitments that will see many of the UK leading businesses heading to the West Midlands region in some capacity who hope to benefit from increasing infrastructure connections to the capital as well as lower labour costs and property costs in the area.