A digital bank will create 1,000 jobs in Manchester city centre.
Starling Bank has signed a decade-long deal for the fifth floor of Barings Real Estate’s Landmark Building near St Peter’s Square.
The bank will occupy 14,061 square feet of space in the building along with other tenants including Santander UK, Xero UK, RSM, HSBC UK, Allianz Insurance, Grant Thornton, JLL and social business Change Please.
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Starling Bank first announced plans to create 1,000 Manchester jobs by December 2022, but did not disclose where it would open an office.
Ian Mayhew, Managing Director of UK Asset Management at Barings, said: “Having been selected by Starling Bank for their fourth UK office is fantastic news and we are delighted to welcome their team to Landmark.
“It’s great to see the leasing momentum continue into 2023 and we’re pleased to be able to offer a world-class work environment for a variety of market-leading and innovative companies.”
Susanna Yallop, Director of People at Starling Bank, added: “We have already received some outstanding applications for our roles in Manchester, confirming the city’s place as the tech capital of the north.
“We want to offer our talent the best of the best; the Landmark facility made it the obvious choice for us.”
Barings’ leasing agents were CBRE and Colliers. Starling Bank was advised by JLL.
In January, Starling Bank boss Anne Boden said the digital bank expects to more than quadruple its profits in 2023 after a strong performance in December.
Boden, the digital bank’s chief executive and founder, praised its profitability, growing customer base and lack of reliance on “dumb valuation” to raise cash.
In his new year update, he distanced Starling from rival digital banks and fintechs looking to raise cash, as it turned profitable last year for the first time in its eight-year history.