Deloitte has started a search for a new office of 40,000 sq ft in Cardiff as it looks to further expand in the city.
The professional advisory firm has appointed Cushman & Wakefield to work alongside Deloitte Real Estate to find space in the city centre as part of a plan that is likely to see it consolidate its occupation in the Welsh capital.
The company currently occupies 9,900 sq ft at Robert Hitchins’ Fusion Point on Tresillian Terrace, where it is expected to activate a lease break in October.
It also occupies 40,821 sq ft at Trinity Mirror’s 6 Park Street for which it signed a 10-year lease with a five-year break last June.
Deloitte’s governance, risk and compliance services teams operate from both locations.
The company also has its 19,052 sq ft office at Credit Suisse’s 5 Callaghan Square, where its lease does not expire until 2024.
Deloitte could look to negotiate an early lease surrender at Callaghan Square to coincide with its break at 6 Park Street and arrange a coinciding break clause on its new office to consolidate all three offices in five years’ time.
With grade-A availability at an all-time low in the city, Deloitte would have to undertake a prelet for a large new base.
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