For years, the giant office block overlooking Callaghan Square in the centre of Cardiff remained a half-built shell exposed to the elements. Yet the John Street office scheme looks finally set for completion next year after Lloyds Banking Group announced it was to create a hub for 3,000 staff there.
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.
Work began on the scheme in late 2019 and was initially scheduled for completion in 2021. But work was derailed by the Covid pandemic and for several years, the block remained unfinished. However the building has since been largely completed. For the latest Welsh news delivered to your inbox sign up to our newsletter
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Lloyds now plans to occupy the offices 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.
The John Street office scheme (pictured in 2023).
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.
The letting is the biggest office in deal in Wales since Covid. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here
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.
The building’s facilities have also been designed with wellness and accessibility in mind, including a free-to-use fitness space. Join our WhatsApp news community here for the latest breaking news. You will receive updates from us daily.