The UK Infrastructure Bank is to move out of its temporary head office in Leeds city centre to a new base at 2 Whitehall Quay.
By the end of the financial year to 31 March 2023, the growing bank employed 194 full time equivalents, mostly in the Leeds head office and have grown to needing four floors according to a source familiar with their situation.
The Bank has now signed a long term lease on the new space and will be joining private bank Coutts, sustainable design and engineering services business Stantec, and tech company Smoothwall.
Agents CBRE had been marketing the space for £30 per square foot on behalf of property owner – specialist UK real estate asset manager, CatellaAPAM (APAM) which also owns 12 Greek Street and One City Square in Leeds.
In 2022 2 Whitehall Quay was given an extensive upgrade, which included refurbished floor plates, common parts and a complete redesign of the reception.
Launched in June 2021, the Bank is a government-owned policy bank, designed to increase infrastructure investment across the United Kingdom.
A UKIB spokesperson confirmed to TheBusinessDesk.com that they “always intended” to move from their interim office at One Embankment, which they leased from flexible office provider Inc Spaces.
A UKIB spokesperson said: “Our current office space at One Embankment was always intended to be our interim head office and, consequently, was taken on a short-term lease basis when the Bank was established.
“Our tenancy had a natural break point in June 2024 and we can confirm – as always planned – that we have now sourced and signed a long-term lease on office space in a new building in central Leeds, which will enable us to accommodate our increased staff numbers now that we have clarity on our steady state business needs.
“Consequently, our current tenancy at One Embankment will terminate when we move to the new building in the early summer.”
The UK Infrastructure Bank has been provided with £12bn worth of capital to deploy, with the capacity to issue £10bn worth of Government guarantees.
