New commercial property development at Wellington Place to bring a further 2,500 jobs into heart of Leeds
Developer and Asset Manager MEPC has re-started works on 11 and 12 Wellington Place after a short pause during 2020 to concentrate on the completion of 4 Wellington Place.
A spokesman said: "With enabling works having already been completed, 11 and 12 Wellington Place will be on track for completion in the fourth quarter of 2022 and will be the ninth building completed by Wates Construction on the site. This appointment continues an eight-year relationship between MEPC and the contractor.
"The building will provide the Leeds office market with 245,000 sq. ft. of Grade A, BREEAM outstanding office and retail leisure space."
"To date the construction of Wellington Place has made a significant contribution to the economic and social value of central Leeds. More than £30m has been spent with subcontractors based in the city, with 300 Leeds residents employed and 100 apprenticeships completed.
"Once finished, 11 and 12 Wellington Place will bring a further 2,500 more people to the area, bringing the projected total working population of Wellington Place to 12,500 people.
"As a ‘Net Zero Carbon’ building it will set the benchmark for future-proofed, sustainable development - not just in the region, but nationally."
The buildings are being developed and managed by MEPC – which last year was acquired by the international business of Federated Hermes – and are funded through a joint venture between CPP Investments and Federated Hermes.
Paul Pavia, Head of Development at Wellington Place for MEPC, said: “The renewed commitment by the international business of Federated Hermes and CPP Investments to continue to invest in 11 and 12 Wellington Place demonstrates the relevance and appeal of urban regeneration and place making to the occupier market. It is an incredibly positive move for the city’s property market after what has been a challenging year for us all.
“The construction of this building takes us beyond the halfway mark of the Wellington Place master plan and will offer Leeds far more than just office space. It will play a big part in attracting major players to the city and continue to cement our position in the Northern Powerhouse.
“We’re pleased to be working with Wates Construction again to deliver the most energy-efficient office building in the city, which will provide not only high-quality office and retail spaces but also helping to support the drive towards the UK and global climate change agenda.”
Councilor Judith Blake, leader of Leeds City Council, said: “It has been great to see Wellington Place coming together piece by piece over the last few years and I’m delighted that it is now taking another big stride forward. The scheme as a whole has a fine track record of employing local people and creating apprenticeship opportunities, both of which will be more vital than ever as Leeds pushes ahead with its recovery from the coronavirus pandemic.
“It’s also really pleasing that sustainability and energy efficiency were such a priority in the planning of a building that promises to be a worthy addition to the city’s skyline.”
Tom Riordan, CEO of Leeds City Council, added: “The continued investment in the development of Wellington Place is such a positive step forward for Leeds, as we look to do all we can to support the local community in rebuilding, after what has been a difficult year.
"MEPC has been at the forefront of creating forward-thinking developments which consider both sustainability and social responsibility, and this building poses an exciting prospect for the future of Leeds and how that will look. Wellington Place is playing a pivotal role in the regeneration of the west end of the city.”