Barclays Commercial Bank is moving its main Midlands headquarters to Ballymore’s Snow Hill development in central Birmingham.

The deal to take 98,000 sq ft has been confirmed by Barclays this week.

The move will bring together 1,000 staff from Barclays Commercial Bank division in the Midlands, currently located across the Greater Birmingham area.

A 15-year lease has been agreed at a rent thought to be around £33/ sq ft.

Barclays, advised by Jones Lang LaSalle, will jointly occupy One Snow Hill with KPMG.

Ray O’Donoghue, regional corporate director at Barclays Commercial Bank said: ‘Our move to Snow Hill will be one of the biggest investments we have made in property in the UK and will provide us with 40% more office space than we currently have.’

Barclays will occupy four floors from levels three to six at One Snow Hill which forms part of the overall 1m sq ft mixed-use scheme. One Snow Hill is scheduled to be completed in March 2009, and it is anticipated that Barclays Commercial Bank will occupy the site in late 2009.

Richard Probert, Ballymore’s project director for Snow Hill, said: ‘This third major pre-let further validates our vision for Snowhill as a world class business and professional services centre in Birmingham which focuses on meeting occupiers’ needs.’

Jones Lang Lasalle advised Barclays. Ballymore was represented by CB Richard Ellis and Colliers CRE.

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