Prescient secures benchmark rent with 31 Wellington Street letting
DAC Beachcroft has taken 14,300 sq ft across two floors at the speculatively built grade A office in Leeds, at a rate exceeding £50/sq ft.
Constructed by Clegg, the £60m office at the junction of Wellington Street and Northern Street will be ready for occupation by autumn 2027.
Spread over nine storeys, the wider project team for the 80,000 sq ft building includes DLA Architecture, Quod, civil and structural engineer Roscoe, service engineer Thornley & Lumb, fire engineer BB7, Stantec, and Ridge.
The law firm has signed a 15-year lease brokered by Knight Frank, with Fox Lloyd Jones and AC7 also appointed to market the scheme.
Louise Bloomfield, head of DAC Beachcroft’s Leeds office, explained the reasons behind the move, saying: “We are committed to providing high-quality, sustainable office space for our clients and colleagues, and our decision to relocate to 31 Wellington Street reflects both our
ambitions and our position as a major employer within the legal sector in Leeds.
“We were looking for space that aligns with our modern brand and complements the look and feel of our global offices, and 31 Wellington Street does exactly that. This move also underlines our long-term commitment to Leeds and the wider region, while supporting our continued growth and helping us attract and retain top talent.
“Over 230 colleagues based in Leeds will relocate to the new building, including teams advising multi-national corporations, listed companies, UK corporates, major insurers, healthcare bodies, public sector organisations, and leading real estate businesses. Our offices
play an important role in fostering collaboration, supporting wellbeing and reflecting the culture of our firm.
“A key factor in choosing 31 Wellington Street was the opportunity to shape the space around our needs as it’s being built. Similarly, the two top floors will give our colleagues bright, contemporary and highly collaborative workspaces, alongside impressive views over Leeds.
“31 Wellington Street’s strong sustainability credentials support our net-zero ambitions, while its facilities – including a spin studio, wellness amenities, sky lounge and roof terrace – will provide a first-class working environment.”
Eamon Fox, head of global property consultancy Knight Frank’s Leeds office, commented: “The decision by DAC Beachcroft to relocate to 31
Wellington Street is a ringing endorsement of the quality of the building and of Prescient Capital’s courageous decision to build speculatively.
“It is also one of the most significant deals in the city of Leeds over the past 12 months.
“31 Wellington Street is a gamechanger for the Leeds office market, providing much-needed and very timely quality office space to satisfy pent-up demand. It is not surprising that our client has committed to the scheme and that the asset is experiencing a high level of interest
in this super prime building from other high-quality firms, who can see the crane is on-site, there is live construction and certainty of delivery for 2027.
“Let’s remember, Prescient Capital is masterminding the first new-build office in Leeds since 2024.
“There is no doubt that 31 Wellington Street is going to be a magnificent building and a worthy addition to the thriving professional core in the West End of Leeds.”
Doug Friend, director of Prescient, explained: “I am absolutely delighted to welcome DAC Beachcroft to 31 Wellington Street. I am confident they will be extremely happy here and we look forward to working with them to ensure that the space they are occupying on the top two
floors is exactly what the firm wants and needs.
“The combination of the quality of 31 Wellington Street, its superb location and the stark lack of grade A office space made this development a compelling proposition. It is never an easy decision to embark on a speculative development but, in this case, the fundamentals were
very sound.
“In the wake of Covid and the initial surge in working from home, the modern contemporary office must be of the highest standard, both in terms of quality space, ESG credentials, service and first-class facilities and amenities. 31 Wellington Street ticks all these boxes.
“Each floor typically provides around 9,530 sq ft of superb office space and features large floor-to-ceiling windows, flooding the space with natural light and giving it a bright, contemporary feel. The building also supports a healthy work-life balance, just a short walk from shops, restaurants, entertainment and the central Leeds train station.”
