Lloyds to relocate 1,600 Belfast staff next year

Lloyds Banking Group
Lloyds Banking Group will vacate its Belfast headquarters building next year and move into the city centre

Lloyds Banking Group is to relocate its Belfast headquarters function from the Gasworks site to new city centre offices next year, it has confirmed.

But the parent group of Halifax Bank insists the move “doesn’t impact the number or type of roles” for the 1,600 staff currently based in the imposing building in Cromac Place.

Lloyds - which last week revealed that it made a pre-tax profit of £7.5 billion in 2023 - has taken a 10-year lease at the 155,000 sq ft Paper Exchange, an 11 storey mixed-use building in Chichester Street.

Its customer specialist support team will occupy two floors (7th and 8th) in the Paper Exchange, sharing the building with several other organisations.

Lloyds insists no decision has been made on the future of its existing premises, though it seems likely it will be sold on the open market.

The Paper Exchange project in Belfast, which contains 155,000 sq ft of office space, is due to be completed in early 2023.
The Paper Exchange project in Belfast, which contains 155,000 sq ft of office space

The group’s chief people & places officer Sharon Doherty said: “Building energising and collaborative spaces in the communities we serve is key to helping us deliver for our customers enabling us to do more to help Britain and Northern Ireland prosper.

“We’re thrilled to announce our move to The Paper Exchange building in Belfast, which will offer the latest sustainable, modern and state-of-the-art facilities including wellness facilities and a modern café.”

She added: “Belfast is the latest city, alongside Bristol, Birmingham, Leeds, London, Cardiff and Manchester, to benefit from the significant investment we’re making to transform our workplaces for colleagues and to attract the talent of the future.”

Lloyds Banking Group is one of the biggest motor finance providers in the UK through its brand Black Horse, and its brands include Halifax and Bank of Scotland.

The group shut branches in Coleraine and Lurgan last year and is due to close its branch in Larne in May, cutting its Northern Ireland retail network to just 11.

Lloyds said it will begin its move to Paper Exchange in 2025 and aim for all colleagues to be working there by the end of the year.

It added: “Colleagues will be able to enjoy the brand-new café installed on the 8th floor, funded by the Group. This will extend on to a roof terrace, providing amazing views of the city.

“Our commitment to the area, and the importance we place on the wellbeing of our colleagues, is reflected in the investment we are making.

“Our new office will create the right sized environment with brand new facilities which will help us to work brilliantly together, attracting new and diverse talent into our organisation.”