Construction work on latest phase of Wellington Place is complete
02 Aug 2016
Development and asset manager MEPC, has announced that construction has completed at 5 Wellington Place, Leeds, which is now open for business.
The completion of the new 75,257 sq. ft. state of the art office facility joins the 290,000 sq. ft. of recently constructed existing office and retail space at Wellington Place which is already let to a host of well-known companies.
5 Wellington Place is a prominent five-storey building which offers grade A office accommodation with ancillary retail space and benefits from a BREAAM excellent rating. It is located at the gateway to Wellington Place just minutes from the city’s fantastic retail and leisure offer and the railway station. The significant location, on the junction of Northern Street and Whitehall Road, establishes 5 Wellington Place as a striking landmark building for Leeds.
The project is funded by Hermes Investment Management, the £24.1 billion manager focused on delivering superior, sustainable, risk adjusted returns to its clients – responsibly, and Canada Pension Plan Investment Board (CPPIB), a professional investment management organisation that invests on behalf of 19 million Canada Pension Plan contributors and beneficiaries.
The completion of 5 Wellington Place follows the success of 6 Wellington Place. The corporate workspace game-changer on the master planned development at Wellington Place was fully leased within four weeks of practical completion earlier this year.
This latest building allows its occupiers to enjoy views of the landscaped setting close to Tower Square from full height glazing along with attractive and open facades at ground floor level. Professionals based at Wellington Place can also enjoy leisure facilities and amenities such as a fitness club, bars and restaurants, and five a side football on site at the new urban quarter, which has over an acre of public space.
James Dipple, Chief Executive at MEPC, the developer and asset manager of Wellington Place, said: “We’re very excited to celebrate the next step of the Wellington Place development. This project is terrific for the business district of Leeds. It’s amazing to see our new customers expanding with their move into their brand new office space. We’re sure they’re going to embrace the space and facilities.
“We are proud of the planning and preparation of this development scheme and it’s great to see the final result of 5 Wellington Place. The development continues to not only be a workplace but a community for the thriving talent of the evolving Leeds business district.”
Chris Taylor, Head of Private Markets at Hermes Investment Management added: “Wellington Place has a well-established and active community, and the completion of 5 Wellington Place will only enhance the environment further. As a long-term investor, we adopt a sustainable approach to development by anticipating the importance of providing excellent public realm, amenities and accessibility, as the country’s leading occupiers increasingly gravitate to those places which will attract and retain top talent”.
Roger Marsh OBE, Chair, Leeds City Region Enterprise Partnership, commented: “Seeing the continuing evolution of Wellington Place over the last 12 months has been fantastic. In March I was delighted to announce alongside MEPC, Hermes Investment Management and CPPIB that No.6 was fully let merely four weeks after completion.
“5 Wellington Place is a fantastic addition to the City Region and as part of the wider Wellington Place development offers something a little different; allowing businesses the chance to locate in BREAAM excellent office space and be part of a dynamic community. I look forward to seeing how the scheme develops further in the next 12 months and also what businesses are attracted to this already thriving destination."