Lloyds’ Wellington Place deal marks region’s biggest office deal since 2017
Lloyds Banking Group has signed for close to 124,000 sq ft at MEPC’s Wellington Place in Leeds, marking the region’s biggest office deal in recent years.
Banking staff based at Lovell Park will begin the move across the city centre to 11 & 12 Wellington Place at the end of the year, with the transition complete by spring 2024.
Due to complete this quarter, the development is BREEAM Outstanding and has also been designed to achieve the maximum NABERS rating of 5*, making it the only building in Yorkshire with these combined accreditations. This was a key consideration for Lloyds, which is working towards achieving net zero carbon operations by 2030.
Lloyds Banking Group has signed for close to 124,000 sq ft at MEPC’s Wellington Place in Leeds, marking the region’s biggest office deal in recent years.
Banking staff based at Lovell Park will begin the move across the city centre to 11 & 12 Wellington Place at the end of the year, with the transition complete by spring 2024.
Due to complete this quarter, the development is BREEAM Outstanding and has also been designed to achieve the maximum NABERS rating of 5*, making it the only building in Yorkshire with these combined accreditations. This was a key consideration for Lloyds, which is working towards achieving net zero carbon operations by 2030.
The new offices use an all-electric reversible air source heat pump system and air-cooled chillers to eliminate fossil fuel use and reduce operational carbon emissions. Windows are triple-glazed to minimise heat loss and designed to maximise natural daylight. The building also generates part of its own electricity by using 7,500 sq ft of solar panels. The site offers EV charging points, free bike hire, secure cycle storage and a cycle buddying scheme.
Sharon Doherty, Lloyds’ chief people and places officer, said: “It’s a key part of our strategy to have the right spaces in the right places and we want everyone to love being in our offices.
“This means having the right facilities, tech and spaces as well as meeting our sustainability commitments.
“Leeds continues to be an important hub for Lloyds Banking Group and our new offices will help us to work brilliantly together and attract new diverse talent into our organisation.”
Paul Pavia, head of development at MEPC, said: “This is a landmark deal for the Yorkshire market and, at more than 120,000 sq ft, is the largest office letting in the region in recent years.”
The MEPC scheme achieved the largest office deal outside London back in 2017, when the Government Property Unit led on a 380,000 sq ft prelet on a 25-year lease for the Yorkshire Government Hub. The space is occupied by HM Revenue & Customs and NHS Digital.
To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews
Image © Bevan Cockerill
See which agent is doing the most office deals in Leeds >>
View office analytics in Leeds >>
