Lloyds Banking Group will reopen its refurbished office at 33 Old Broad Street in the City of London as its new headquarters later this year.

The renovation project will transform the building into an energy-efficient workspace for around 5,000 employees.

The move is part of Lloyds' strategy to reduce its office space by 30 per cent over the next two years, adapting to increased remote working after Covid-19. The group will permanently leave its 125 London Wall office in 2025, consolidating into three London sites.

The refurbished 33 Old Broad Street will have collaborative spaces and features like sound-absorbing materials. Importantly, new gas-free technology will cut the building's annual CO2 emissions by 428 tonnes, supporting Lloyds' net zero target.

"Our new head office will bring teams together to collaborate and innovate for customers," said Sharon Doherty, chief people and places officer at Lloyds.

Employees will be encouraged to use greener commuting options, with new cycle storage, electric vehicle charging points and electric bike charging facilities. These aim to keep commuting emissions below 50 per cent of pre-COVID levels.

The eco-friendly London headquarters comes as banks reduce office footprints following the pandemic's impact on work patterns. HSBC previously announced plans to cut its global office space by nearly 40 per cent.

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