Work commences on next phase of Leeds city centre’s Wellington Place

MEPC, the developer and asset manager, has appointed Wates Construction to build 3 Wellington Place – the next phase of the urban quarter in Leeds city centre.

Wellington Place, a landmark development located in the centre of Leeds, is funded by a joint venture between Hermes Investment Management and the Canada Pension Plan Investment Board.

Hermes Investment Management is the £24.1bn manager, which delivers sustainable, risk adjusted returns to its clients, and CPPIB is a professional investment management organisation that invests on behalf of 19 million Canada Pension Plan contributors and beneficiaries.

Due to be completed at the end of 2017, 3 Wellington Place will house five floors of office space, offer brand new facilities and a restaurant café lounge at ground floor level.

Located at the junction of Wellington Street and Northern Street, close to the A1 (M) inner ring road, the new building will also form the principal north-eastern gateway into Wellington Place.

The start on site at 3 Wellington Place follows from 6 Wellington Place, which was 100% let within four weeks of practical completion earlier this year. 5 Wellington Place, which offers 75,257 sq. ft. of new office space located at the south eastern gateway to Wellington Place, has also recently been completed.

James Dipple, chief executive of MEPC, said: “It’s great to see the regeneration of this large masterplanned site coming together. Fuelled by strong demand from local, national and international companies, Wellington Place is coming out of the ground at an impressive pace.

“The winning combination of great buildings coupled with high-quality public realm provides innovative, global businesses with the opportunity to attract and retain the best staff.”

Chris Taylor, head of private markets at Hermes Investment Management, added: “Work commencing at 3 Wellington Place marks another milestone for this new urban quarter in the heart of the city centre.

“On completion, the development will see the business community at Wellington Place grow with increasing success and confidence. As a long-term investor in the area, we continue to adopt a sustainable approach to development by anticipating the importance of providing excellent public realm, amenities and accessibility.”

Once completed, the scheme will boast a total of 1.5 million sq. ft. of commercial, retail, leisure and residential space and will be one of the biggest new city centre business quarters in Europe.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →