FTSE 100 behemoth Auto Trader has confirmed its plans to shift its headquarters from a building named after a Manchester icon to a new base valued at £87m. The firm will vacate its current location at 1 Tony Wilson Place in First Street and relocate to Bruntwood SciTech’s 3 Circle Square in 2026.
Auto Trader has been operating from its present head office since 2014, but will transfer 900 employees to the new site once the fit-out is completed next spring. Tony Wilson, who passed away in 2007, was a renowned figure in Manchester, co-founding the independent label Factory Records and establishing the Haçienda nightclub, as reported by .
He also managed some of the city’s most successful bands, including Joy Division, New Order, and Happy Mondays. In addition, Wilson had a career in journalism with Granada Television, the BBC, and Channel 4.
Discussions regarding Auto Trader’s move from 1 Tony Wilson Place to 3 Circle Square were initially reported in May last year by property magazine and data business EG. Bruntwood SciTech’s 3 Circle Square forms part of an £87m phase of a broader development off Oxford Road in the city centre.
The company behind the site is a joint venture between property group Bruntwood, Legal & General, and the Greater Manchester Pension Fund.
Bruntwood SciTech made headlines in November 2024 with its announcement to assist Imperial College London in creating a life sciences and deep tech hub valued at over £200m in West London. Companies such as HPE, Roku, Bosch, and Uber's Autocab are already situated at Circle Square.
Auto Trader, which has part of its workforce in Covent Garden and Hemel Hempstead, is set to move its headquarters to Circle Square.
Move ‘reaffirms our unwavering commitment to the city’
Alison Ross, Auto Trader’s chief people and operations director, commented: "We are deeply proud of our connection to Manchester, and over the course of the last decade, it’s become ingrained in our culture."
She added, "The access to exceptional digital talent and skills from across the region has been integral to our growth and one of the key reasons why today, we are one of the º£½ÇÊÓƵ’s largest technology companies."
Ross further explained, "To continue to grow, we not only need more space to house our rapidly expanding data and technology teams, but also state-of-the-art facilities which can support their pace of innovation and ambition."
She also mentioned the need for a collaborative space: "We also need a space where we can welcome the wider automotive ecosystem, our partners, customers and peers to share data, insights and work collaboratively."
"The relocation of our head office to Circle Square within the heart of Manchester’s thriving tech community will help us to deliver this growth, and it reaffirms our unwavering commitment to the city."
Circle Square owner eyes further deals
Josh Whiteley, Commercial Director at Bruntwood SciTech, expressed his delight with Auto Trader's move to No. 3 Circle Square, emphasising the significance of their addition to the innovation hub: "We are very pleased to welcome Auto Trader to No.3 Circle Square and have them join our community of science, technology and digital innovators."
Whiteley highlighted the outstanding collaborative environment within Circle Square and the broader Manchester knowledge quarter: "Their decision to join us highlights the vibrant, collaborative ecosystem we’ve created within Circle Square and throughout Manchester’s knowledge quarter."
He pointed out the benefits for businesses of all sizes participating in this ecosystem: "We’ve seen first-hand how the support we offer and community we’ve built at Circle Square forges connections and promotes knowledge-sharing between large, well established businesses, start ups and scale ups, from the Tech Incubator through to the large scale new buildings."
"All customers have access to the same talent, funding, and networking opportunities to help them develop and reach their full potential."
"As work at No.3 Circle Square progresses, we’re looking forward to welcoming even more forward-thinking businesses to the neighbourhood with more to be announced in the coming months."
Financial success for Auto Trader despite shares slide
In financial news relevant to Auto Trader, despite a downturn in share value in November 2024, the company shared some positive performance figures: Auto Trader announced its half-year revenue had increased by eight per cent to £302.5m while its pre-tax profits had jumped by 15 per cent to £187.5m.
Looking ahead, Auto Trader was optimistic about the upcoming year according to its November statement: "The new financial year started well with strong growth in retailer forecourts, a good pricing and product event, and growing sales volumes for our customers."
"Retailer forecourts are likely to remain strong and be broadly consistent with that reported in the first half."
"As this increase came from smaller lower yielding retailers, the growth in both the price and product levers was diluted, which we also expect to continue. " "Compared to our original outlook, the impact on revenue from having more retailers but with lower price and product contribution should broadly cancel each other out."
Auto Trader has enjoyed a revenue climb of 14 percent amounting to £570.9m while its pre-tax profits soared by 18 percent to £345.2m. These formidable results led to the company's shares reaching an all-time high, initially hitting 825p, subsequently soaring further to secure an 892p peak in October 2024.
Since then, shares in Auto Trader have experienced a decline and presently trade at approximately 777p.
