Nationwide Building Society has confirmed its plans to move to 1 Threadneedle Street, EC2, in the heart of the City of London.
The building society has leased the entire 57,000 sq ft building, significantly increasing its presence in the City.
One Threadneedle will house a new branch and act as a base for Nationwide’s Treasury Front Office team with close links to the Bank of England, HM Treasury and the credit rating agencies.
The Society’s head office will continue to be based in Swindon, with major administration centres in Northampton, Bournemouth and Dunfermline.
One Threadneedle comprises seven floors of offices above a ground floor retail unit where the new branch will be located.
Nationwide expects to start moving employees into the new London office from mid-year 2013.
German fund SEB owns the building.
The full terms of the deal remain confidential but the bank is thought to have taken a 20-year lease with no breaks.
Nationwide’s chief operating officer Tony Prestedge said: “This is a good move for Nationwide which means our key Treasury and Board functions will be in the heart of the City with easy access to regular day-to-day contacts.
“This relocation is part of the ongoing transformation and modernisation of Nationwide and supports our ambitious plans for growth.”
Savills and CBRE advised SEB; Colliers International acted for Nationwide.
