31 Wellington Street Leeds: DAC Beachcroft Signs at £55/sq ft

International law firm DAC Beachcroft takes the top two floors of Prescient Capital’s £60 million 31 Wellington Street Leeds on a 15-year lease, with 230 staff relocating to the £55 per sq ft Grade A development

International law firm DAC Beachcroft has signed a 15-year lease for 14,300 sq ft across the top two floors of 31 Wellington Street Leeds, the £60 million speculative Grade A office development by Prescient Capital. More than 230 DAC Beachcroft staff will relocate from St Paul’s House on Park Square South to the nine-storey building when it opens in autumn 2027, making it one of the most significant office lettings in Leeds in the past 12 months. Knight Frank’s Eamon Fox, who advised DAC Beachcroft on the deal, described 31 Wellington Street Leeds as a game-changer for the office market, providing much-needed quality space to satisfy pent-up demand. The building is quoting record-breaking rents of £55 per sq ft – significantly above the £46 per sq ft headline rent that Savills reported as recently as Q1 2026.

Why This Matters For Leeds

DAC Beachcroft choosing the first new-build office since 2024 validates both the supply shortage and the rental trajectory of available Grade A office space. For the legal sector, 230 lawyers joining Walker Morris and Addleshaw Goddard in the Wellington Street corridor deepens the West End’s professional concentration. The £55 per sq ft rent sets a new benchmark for every office scheme in Leeds.

Why DAC Beachcroft Chose 31 Wellington Street

Louise Bloomfield, head of DAC Beachcroft’s Leeds office, said the move reflects the firm’s ambitions and position as a major employer in the Leeds legal sector. She said the firm wanted space that aligns with its modern brand and complements the look and feel of its global offices. A key factor was the opportunity to shape the space while the building is under construction. The top two floors will provide bright, collaborative workspaces with views over Leeds, alongside the building’s facilities including a spin studio, wellness amenities, sky lounge, and roof terrace. DAC Beachcroft’s Leeds teams advise multinational corporations, listed companies, major insurers, healthcare bodies, public sector organisations, and leading real estate businesses.

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“31 Wellington Street is a game-changer for the Leeds office market providing much-needed and very timely quality office space to satisfy pent-up demand. Prescient Capital is masterminding the first new-build office in Leeds since 2024.”

— Eamon Fox, Head of Knight Frank’s Leeds Office

The First New-Build Office Since 2024

The development is being built speculatively by Prescient Capital with a £27 million loan from BGO, a global investment company with more than US$90 billion of assets under management. Clegg Construction is the main contractor, with DLA Architecture designing the 80,000 sq ft building at the junction of Wellington Street and Northern Street, opposite MEPC’s Wellington Place. Doug Friend, director at Prescient Capital, said the combination of quality, location, and the stark lack of Grade A office space made the development a compelling proposition. He described it as the first new-build office in Leeds since 2024 and said the asset is experiencing high levels of interest from other quality firms. Knight Frank, Fox Lloyd Jones, and AC7 are marketing the remaining floors, with occupation expected from autumn 2027.