‘Gamechanging’ office scheme breaks ground

A new office development in Leeds city centre has moved forward as construction begins on a £60 million scheme designed to deliver premium workspace.

Investment firm Prescient Capital has started work on 31 Wellington Street, an 80,000sq ft Grade A office building replacing the former Wellington Plaza site. 

The nine-storey development sits at the junction of Wellington Street and Northern Street, close to Leeds train station.

Clegg Construction has been appointed as the main contractor for the project, which is expected to be completed and ready for occupation by summer next year.

Doug Friend, director of Prescient, said: “As an adopted Yorkshireman, I have always been a massive supporter of the city of Leeds, having my office base here and the opportunity to develop a prime office building was too good to pass up.

“The combination of the quality of 31 Wellington Street, its superb location and the stark lack of Grade A office space made this development a compelling proposition. 

“It is never an easy decision to embark on a speculative development but, in this case, the fundamentals are very sound.

“In the wake of Covid and the initial surge in working from home, the modern contemporary office must be of the highest standard, both in terms of quality space, ESG credentials, service and first-class facilities and amenities. 

“31 Wellington Street ticks all these boxes.”

Once finished, the building will offer flexible floorplates from 3000sq ft and is being marketed by Knight Frank, Fox Lloyd Jones and AC7.

Eamon Fox, office agency partner and head of global property consultancy Knight Frank’s

Leeds office, added: “This is a gamechanger for the Leeds office market, providing much needed and very timely quality office space to satisfy pent-up demand. 

“As a result, we are quoting rents of £55 per sq ft, in line with the general trajectory of office rents in Leeds.

“It is not surprising that we are already experiencing a high level of interest in this super prime building, as it is the only new building on-site scheme with live construction and certainty of delivery for 2027. 

“This is a significant differentiator from the other major developments in the city in the pipeline. 

“Let’s remember, Prescient Capital is masterminding the first new-build office in Leeds since 2024.

“There is no doubt that 31 Wellington Street is going to be a magnificent building and a worthy addition to the thriving professional core in the West End of Leeds. 

“We should all be very proud of both the vision and the courage of Prescient Capital to invest in Leeds at this vitally important time.”

The wider project team includes DLA Architecture, Quod, Roscoe, Thornley & Lumb, Axi Interiors, BB7, Hydrock and Ridge.

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