The Bank of England has signed a long-term lease for new office space in Leeds at Capitol House, a building owned by a property group linked to a prominent donor to Reform UK. The move, scheduled for 2028, is part of the Bank’s strategy to expand its local workforce and relocate more roles outside London. Currently, about 300 staff members work in Leeds, with plans to increase this number to over 500.

The Bank’s existing Leeds office at Yorkshire House, located near Capitol House, will be closed when the transition takes place. Governor Andrew Bailey described the relocation as a significant step in the Bank’s commitment to better represent the communities and businesses it serves. He stated that moving to Capitol House would support the Bank’s growth in the city and reinforce its long-term presence there.

Capitol House is owned by Evans Property Group, a company founded by the Evans family. The family patriarch, Michael Evans, passed away in 2023. He had lived in Monaco since the 1970s, and ownership of the business is now held by his widow, Helga Ingeborg Evans, who is also a resident of Monaco. According to public records, a family investment entity, Evans Management Limited, contributed £200,000 to Reform UK prior to the 2024 general election.

Rob Marshall, managing director of Evans Property Group, confirmed that building work on Capitol House will begin next month in preparation for the Bank’s arrival. He expressed enthusiasm about the Bank of England choosing Capitol House for its new Leeds base.

The Bank of England’s decision aligns with its broader approach to decentralizing operations and increasing regional presence across the United Kingdom. While the association between the Bank’s landlord and a political donor has been noted, the Bank has emphasized its focus on expanding capabilities and supporting economic activity outside the capital.