Deutsche Bank (DB) has signed a deal this week to locate a major chunk of its back-office operations to Birmingham.
The letting is the largest deal to be signed in the city since KPMG took 120,000 sq ft at Ballymore’s Snow Hill scheme in June 2006.
DB has taken the whole of 1 Brindleyplace, a 68,500 sq ft office block which was been empty since Vodafone quit the building in October 2005.
Vodafone has assigned its lease to the bank until February 2014 at a passing rent of £1.73m pa.
Confirming the deal, a DB spokeswoman said that the building would become a regional operational processing centre.
Deutsche, which already has about 20 staff in serviced offices in 3 Brindleyplace, is expected to recruit from the midlands region and relocate one of its Indian operations to the city.
The bank would not comment on whether there would be relocations out of London.
GVA Grimley advised Vodafone, while Jones Lang LaSalle acted for Deutsche Bank.
