The Bank of England has secured Capitol House in Leeds to replace Yorkshire House, with a move planned for late 2028. It previously announced plans for at least 500 staff in the city by 2027.
The Bank of England offices at Threadneedle street in London.(Image: PA)
The Bank of England is preparing to launch a new office in Leeds as it continues to strengthen its foothold in the city.
Britain’s central bank has secured a long-term base at Capitol House in Bond Court, Leeds, which it says will accommodate its “growing headcount” in the city and ultimately replace its existing premises at Yorkshire House.
The Bank currently employs just under 300 staff in Leeds, having previously announced ambitions to grow its West Yorkshire workforce to at least 500 by 2027. The relocation to Capitol House is scheduled for late 2028.
Bank governor Andrew Bailey said: “The Bank’s new office in Leeds is an important milestone in our long-term commitment to the city. We have seen first-hand the value of the exceptional talent, expertise and fresh perspectives that Leeds and the wider region offer.
“Moving to Capitol House strengthens our presence across the UK and helps ensure the Bank better reflects and represents the people, businesses and communities we serve.”
Tracy Brabin, mayor of West Yorkshire, said the move would support efforts to drive growth across the regions.
She said: “The Bank of England putting down even deeper roots in Leeds is a powerful endorsement of our Northern Square Mile, and signals a national belief in our region’s economic future.”
She added: “The Bank establishing a permanent base in Leeds won’t just be good for the people of West Yorkshire – it will help ensure that the future of our national economy is shaped by voices from across our regions and nations.
“That is how we’ll deliver good growth in every postcode and build a stronger, brighter UK economy that works for all.”
The enhanced presence in Leeds also forms part of a wider restructuring of its property portfolio, known as its location strategy programme, which will see it renovate its historic Threadneedle Street headquarters and reportedly close the neighbouring Moorgate site.
The Bank stated the Threadneedle Street renovation is “designed to allow consolidation of the Bank’s property footprint in London by end-2028”.
The Bank originally opened a Leeds branch in 1827 under Thomas Bischoff, who served as the Bank’s first agent.
It operates 12 agencies throughout the UK, working from a network of offices in Belfast, Birmingham, Bristol, Cardiff, Fareham, Glasgow, Leeds, Manchester, Newcastle and Nottingham.
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