Green light for £50m office scheme in Leeds

A planning application to redevelop a landmark site in Leeds city centre has been approved by Leeds City Council.

A joint venture partnership between Asset Capital and Prescient Capital purchased Wellington Plaza, a prominent 1980s former HQ building on Wellington Street, last year.

The partnership has confirmed its intent to fund and deliver the £50m scheme speculatively with a start on site by early 2024. It will see the creation of 77,000sq ft of workspace. 

This transformation of one of the last remaining standalone gateway sites in the heart of Leeds’ West End business district is currently the only pipeline scheme of its calibre in the city centre to start on site in 2024. 

Designed by Leeds-based DLA Architecture, the approved plans will increase floor space availability from 21,000 sq ft to 77,000 sq ft with Grade A specification floorplates up to 10,000 sq ft.  

A total redesign of the building’s façade is influenced by the local conservation area and ESG credential targets including BREEAM Outstanding, minimum NABERS 5 Star, Fitwell 3 Star and Wired Score Platinum Certification.  

The internal space is designed to support the post-pandemic hybrid way of working with total flexibility for occupiers fit out.  Communal spaces will include a large roof top terrace, sky lounge, and business lounge linked into reception for occupiers and their guests.

With an anticipated 18-month build programme, the development is expected to achieve completion for occupation by the spring of 2026. 

Daniel Newett, CEO at the developer Asset Capital, said: “We are delighted to secure planning consent to redevelop this important building in Leeds city centre that has lain vacant for some time now. 

“We have plans to not only bring the site in line with its neighbouring Grade A premises but surpass this with a specification that the city has not yet seen, redefining the term ‘super prime’.

“We are very much repurposing an existing building, in line with our commitment to reducing our carbon footprint, to provide an inspirational, collaborative, sustainable and futureproof working environment that is worthy of a leading European city for business.”