Capitol House secured for long-term Leeds expansion from 2028
The Bank of England has secured a long-term lease at Capitol House in Leeds, planning to relocate from Yorkshire House in late 2028. The site will support core central banking functions and accommodate a growing regional staff of nearly 300 employees.
Capitol House anchors regional hub
The Bank of England has finalized an agreement with Evans Property Group to establish a permanent regional hub at Capitol House in Bond Court, Leeds.
The facility will replace the central bank’s interim base at Yorkshire House, with the formal relocation scheduled for late 2028.
Construction works at the site are scheduled to begin in October.
The building is designed to support core central banking functions alongside the London headquarters, accommodating expanding headcount beyond the current base of nearly 300 employees.
Governor Andrew Bailey stated: “Moving to Capitol House strengthens our presence across the UK and helps ensure the Bank better reflects and represents the people, businesses and communities we serve.”
Dual-city strategy with London consolidation
The relocation forms an integral part of the central bank's Location Strategy Programme.
Alongside expanding in West Yorkshire, the program involves the refurbishment of the historical Threadneedle Street site to consolidate the institution's London property footprint by the end of 2028.
Local leaders, including Mayor Tracy Brabin and Council Leader James Lewis, highlighted the move as backing the financial services cluster in Leeds, which aims to double its growth rate over the coming decade.
Decentralization on a slow track
Expanding outside London addresses long-standing criticism regarding regional representation in UK monetary governance.
However, the four-year runway until the 2028 move illustrates the slow pace of institutional decentralization.
True operational balance will ultimately depend on whether senior policymaking authority actually shifts out of Threadneedle Street.