Three developers in Leeds are battling for the Government Property Unit’s 380,000 sq ft civil service hub requirement.
MEPC’s Wellington Place, Town Centre Securities’ Whitehall Riverside and BAM’s Latitude have made the final shortlist.
Commercial Estates Group’s Holbeck portfolio and Vastint’s former Carlsberg Tetley site were ruled out.
HMRC needs to be in place by early 2019. A further circa 200,000 sq ft requirement will follow as part of a major government shake-up of its office portfolio, which it plans to cut by 75% by 2023.
The shortlisted properties are all close to Leeds’ West End. MEPC’s 7 & 8 Wellington Place is tipped by some local agents as the favourite. The developer submitted a reserved matters planning application earlier this month for the 377,215 sq ft office scheme in direct response to the requirement.
However, in a signal to the GPU that the battle is not yet over, Town Centre Securities this week announced it had issued a reserved matters application for its No 2 Whitehall Riverside in preparation for the hub. The scheme has one of the only riverside views available in the city centre, and the developer is hoping its 320,000 sq ft office block will clinch the requirement.
BAM Properties could yet be a surprise win, with planning consent achieved for its Latitude scheme, comprising 450,000 sq ft on the five-acre Wellington Road site.
The move will be a boost for the Leeds city centre office market, which reported take-up of 320,332 sq ft as of the end of Q3, meaning it will have to achieve more than 50% of its annual take-up in Q4 to match last year’s 680,100 sq ft take-up total.
JLL is advising the GPU nationally.
Government Property Unit shortlists
Belfast
- McAleer & Rushe’ Bedford Square site
- Erskine House, Chichester Street
- Kilmona’s East Bridge and Stewart Street site
Glasgow
- HFD Group’s planned 215,000 sq ft office block at 177 Bothwell Street
- BAM Property’s 300,000 sq ft Atlantic Square redevelopment
- Drum Property Group’s planned regeneration of the Tradeston Street area on the banks of the Clyde
CONFIRMED: Cardiff
- Rightacres Property’s Central Square
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