‘Flight to quality’ | Q&A with Paul Pavia

Place Yorkshire spoke to the head of development at MEPC, the developer and asset manager behind Wellington Place in Leeds, about grade A office trends, authentic placemaking, and upcoming developments.

Wellington Place is clearly focused on grade A office space. When did MEPC realise there would be such a demand for this in Leeds?

Since MEPC became the developer and asset manager for Wellington Place and launched its masterplan for the site in 2006, we recognised a clear need for grade A office space in Leeds city centre, which had been extremely limited. Over that time, Wellington Place has played a pivotal role in revitalising office development in the area and having a catalytic effect on wider regeneration across Leeds during periods of market uncertainty.

Following the 2007 financial crash, the completion of 10 Wellington Place in 2014 marked the first new Grade A office development in central Leeds in five years. The rapid uptake of this space confirmed the high demand and highlighted a key opportunity to drive further development.

By the time buildings 7 and 8 completed in 2019, and building 4 in 2020, Wellington Place accounted for 65% of all new grade A space delivered in the city since 2009. The strength of demand from occupiers for the early stages of development helped to breathe confidence into the office market after several years with no new deliveries of office space.

The trend of ‘flight to quality’ by occupiers has only continued, with Wellington Place delivering high-quality grade A office space to cater for this demand. A prime example is the rapid success of 11 and 12 Wellington Place. Within six months of completion, 100% of the upper office space was fully leased. Notably, 11 and 12 secured the UK’s largest regional letting with Lloyds Banking Group, alongside key tenants like Arup, JLL, Hill Dickinson, and GHD.

11 and 12 Wellington Place, along with the mini museum. Credit: via Aberfield

What will 2025 and beyond bring to Wellington Place, in terms of construction and development, amenities, and tenants?

9 Wellington Place is our next addition, which will provide 176,413 sq ft of office and 6,851 sq ft of ground floor retail and leisure space. Its arrival will see the creation of more than an acre of outdoor spaces with seating and terraces, and it will include a quarter of an acre of new planting with 39 new trees. Looking further ahead, 14 Wellington Place is already in the planning pipeline.

As well as building industry-leading new space, we recognise the important role retrofitting plays in creating buildings for the future. This is why we’re investing in an extensive upgrade and comprehensive refurbishment of one of the first buildings constructed here, 2 Wellington Place. The plans will see 119,154 sq ft across seven floors of the grade A office building upgraded using state-of-the-art technology to create a highly energy efficient office. It will align with the exceptional
calibre of our new builds, both from a sustainability perspective, and high-standard interior design. Interest is already strong.

We have an extremely diverse year-round events programme for both our occupiers and visitors. This includes fitness classes and wellbeing workshops, city-wide community initiatives and creating partnerships with local schools, charities, and social enterprises. All are integral to engaging the community in a meaningful way, whilst creating positive social impact and promoting wellbeing.

We always build and strengthen this work, and will in 2025 and beyond. This includes continuing long-standing partnerships with social enterprises like Ahead Partnership, and our series of events tailored to inspire, empower and elevate local young people.

We’re also working with Leeds Art University again this year, following years of our artist window initiative that gave students the chance to showcase their art in a city centre location. We’ll be providing a space for students to exhibit their work once again at Easter.

We have purposeful new partnerships with organisations like Holbeck Together, where will be holding a food and clothing drive to generate much needed items for the community as well as continuing to raise money and awareness for local charities, including Yorkshire Children’s Charity.

Finally, we’ll be utilising our new Wagon Listing Hoist Mini Museum, which launched in 2024 following a substantial investment from MEPC, for more events and activities. One of the last remaining parts of the original Leeds Central Station and now home to a fascinating museum that celebrates Leeds’s rich industrial heritage, it’s already proven a popular visitor attraction in Leeds and something our occupiers are rightly proud of.

Allianz has signed at 4 Wellington Place. Credit: via LOAF

What are the main trends in office space that you see becoming prominent in the next five-10 years?

After a period of uncertainty around space requirements following the shift to hybrid working, businesses are now generally settled on their working space requirements. In fact, some businesses who made an early call to downsize are now re-visiting those decisions and it feels like generally, demand for high quality office space has never been stronger in Leeds.

Good quality refurbishments will be important to fill this supply, such as our 2 Wellington Place plans. Constrained investment means that very little new stock will be added to the supply over the next few years, but we’re positive about the long-term view, and we have our 9 and 14 Wellington Place buildings in the pipeline.

Sustainability is a significant factor shaping office space trends. This is evident from the rapid occupancy of 11 and 12 Wellington Place, among the UK’s most sustainable office buildings. Businesses increasingly seek spaces that support their ESG strategies and appeal to top talent, as more individuals prefer working for organisations that share their ethical values. This means, we’ll increasingly see more offices integrating energy-efficient technologies, such as smart lighting, as well
as biophilic design, which incorporates natural elements like plants and water features, all of which promote wellbeing and sustainability.

Employee wellbeing will undoubtedly continue to extend beyond bricks and mortar as expectations for modern workplaces continue to grow. We’re already ahead of the curve, delivering extensive events and programmes for our occupiers with a strong focus on enhancing wellbeing. From health workshops and gardening clubs to working groups and fitness classes, we’re creating experiences that encourage connection, health, and engagement.

As this trend evolves, office spaces will become even more people-centric. Workplaces that go beyond simply providing a building – offering meaningful experiences and supporting vibrant communities – will ultimately drive occupancy.

What truly makes Wellington Place stand out from the crowd is its commitment to authentic placemaking. We set out to create more than just a workplace, but a thriving community built around the people it serves. The result? Inspiring spaces, thoughtful on-site facilities, and a well-managed environment that prioritises wellbeing and generates a true sense of belonging.

But placemaking is never truly finished and we are well aware of our evolving role as ‘place caretaker’. It’s an ongoing journey of growth, continuously evolving to meet the changing needs, desires, and challenges of the community. That’s what makes Wellington Place so unique — a living, growing environment designed for much more than just work.