Willmott Dixon lands £40m Leeds office redevelopment

Willmott Dixon has been appointed to deliver the £40m-plus redevelopment of Princes Exchange in Leeds, transforming the eight-storey office building into a new workplace hub for Network Rail.

The contractor will refurbish the 108,576 sq ft building next to Leeds City Station, creating Grade A workspace alongside communal areas, public realm improvements and commercial space that will be offered to the wider market.

The redevelopment is due to complete in summer 2027 and will bring Network Rail and train operator employees in Leeds together within a single location. Willmott Dixon will replace the building's entire glazed façade and roof, install new flexible mechanical, electrical and plumbing systems and complete an internal fit-out.

The work is intended to significantly improve the energy performance of the existing building, raising its Energy Performance Certificate rating from D to A. Princes Exchange is also being designed to achieve BREEAM Excellent and Fitwel certification, alongside WiredScore certification for its digital connectivity.

The project has been procured through the SCAPE Construction framework and is being delivered in partnership with Platform4, Network Rail's property development company.

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.”

The redevelopment will also reuse furniture and materials from the existing building. Willmott Dixon expects this element of the project to save around 80 tonnes of carbon, with approximately £10,000 of equipment set to be donated to local charities. Apprenticeships, work experience placements and educational activities are also planned as part of the construction programme.

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.”

The project will allow Network Rail to modernise its workplace requirements in Leeds while retaining and upgrading an existing city-centre building rather than replacing it with new development.

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.”

The redevelopment also forms part of Network Rail's wider management of its property estate through Platform4, which is tasked with unlocking development opportunities from railway land and property.

Andrew Ferguson, Interim Chief Executive of Platform4, 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.”

The contract adds to Willmott Dixon's pipeline of major regeneration and commercial projects in northern England. The contractor is currently delivering a £32m Grade A technology hub in Doncaster and has also been appointed to the £114m The Stage regeneration scheme in Luton.