PwC NI to become sole tenant in £70m Merchant Square development

PwC NI has announced that it will become the sole tenant in Belfast's upcoming £70m Merchant Square development in the largest letting deal to hit the city.

Back in November, PwC announced that it would become the anchor tenant of Belfast's upcoming £70m Merchant Square development. That was the largest private-sector office letting deal to hit Belfast at the time, and would have supported up to 2,000 PwC staff in Belfast out of the building's total capacity of around 3,000 employees.

The company has now announced that it has expanded its offer and will become the sole tenant of the building in a record letting deal for Belfast. The building is expected to be completed in Summer 2020 and will consist of nine floors with over 200,000 sq ft of Grade A office space and a ground floor of retail and restaurant space.

The massive redevelopment of the old Oyster and Royston House buildings in Belfast into a modern office building was announced by Oakland Holdings back in May and will cost around £70m in total to complete. When PwC first announced its intention to become the anchor tenant of the building in November, it was just following a major year of hiring that saw 600 additional staff recruited.