Willmott Dixon will redevelop the existing 108,576sq ft Princes Exchange building, transforming it into new offices for Network Rail in the heart of Leeds City Centre.
Princes Exchange will see the contractor create new Grade A workspace and a dedicated hub in addition to new communal areas, public realm improvements and commercial spaces to be let when the building opens in summer 2027.
The building will bring track and train colleagues in Leeds together in one location – with energy efficiency, sustainability and digital connectivity all at the heart of the development.
Procured through the SCAPE Construction framework and delivered in partnership with rail regeneration experts Platform4, the transformation is over £40m with Willmott Dixon replacing the entire glazed façade and install new flexible mechanical, electrical, and plumbing systems, in addition to completing an internal fit-out of the eight-storey glass building, which sits next to Leeds City Station.
The project will see Princes Exchange brought up to modern energy-performance standards, receiving a full new envelope and new roof which will support an improvement in its Energy Performance Certificate (EPC) rating from D to A. Designed to BREEAM Excellent standards, Princes Exchange will also be Fitwell certified, showcasing a commitment to improving the lives of the building’s occupants and local communities and will achieve WiredScore certification which recognises the best-in-class, digitally connected buildings.
Princes Exchange will leave a lasting legacy within the Leeds community through the creation of apprenticeships, work experience placements, educational activities and support for community projects. Sustainable reuse of furniture and materials from the site is expected to save around 80 tonnes of carbon and provide £10,000 worth of donated equipment to local charities.
Anthony Dillon, Managing Director for Willmott Dixon in the North, said: “Princes Exchange is a fantastic opportunity to breathe new life into an iconic building in the heart of Leeds, creating a modern, high-quality hub for Network Rail in addition to providing new commercial spaces for the city.
“With our regional office in Morley, we’re proud to be working on a local landmark project that supports Network Rail’s ambition for a sustainable workplace that will benefit the rail industry for many years to come.”
Mark Robinson, Group Chief Executive at SCAPE, said: “This is a landmark refurbishment project and currently Network Rail’s largest project commission through the SCAPE Construction Framework. By working closely with both Willmott Dixon and Network Rail, we can bring the benefits of early contractor engagement and strategic guidance from the outset, helping to drive value and support the successful delivery of this important project.”
Andrew Banks, Network Rail finance director, said: “The redevelopment of Princes Exchange will breathe new life into what is already an iconic building in a prime city location.
“We’re proud to be providing upgraded space for Network Rail and train operator colleagues to support them to deliver great service for rail passengers in the north, while opening up this iconic property to the wider market.”
Andrew Ferguson, interim chief executive of Platform4, Network Rail’s property development company, said:
“Working to maximise the value of rail land for both the railway and for wider public benefit is exactly what Platform4 was set up to do. At Princes Exchange, we’ve worked with Network Rail and our other partners not only to deliver landmark office space for colleagues and businesses but also to unlock critical land, enabling rail growth in Leeds.”
Princes Exchange adds to Willmott Dixon’s growing track record of regenerating towns and cities across the country. The company is on site delivering a new £32m Grade A tech hub in Doncaster. It was recently appointed to deliver The Stage in Luton, a £114m town centre regeneration scheme creating 292 apartments including 84 affordable homes, and delivered the award-winning £115m Stockport Interchange comprising 196 apartments and a new bus interchange.
