Willmott Dixon Begins £40m Princes Exchange Overhaul in Leeds

One of Leeds city centre’s most prominent office buildings is undergoing a major transformation, and the work has already started.

Willmott Dixon has begun a £40 million upgrade of Princes Exchange, the eight-storey office block sitting directly beside Leeds station. The project is being delivered in partnership with Platform4, Network Rail’s property company, which acquired the building in 2024 and has now mobilised the full works programme.

The scope is substantial. The project includes a full external facade refurbishment, replacement of all windows and the roof, public realm improvements to the Aire Street frontage, a new dedicated rail hub entrance and reception, staff welfare facilities, basement-level cycle storage and changing rooms, and fit-out of five commercially lettable floors targeting mid-2027 completion. The project is targeting EPC A, BREEAM Excellent, Fitwell and Wiredscore accreditations – the kind of sustainability specification that requires specialist trades and extended programmes to deliver.

Network Rail and rail industry partners will occupy three floors of the completed building, with the remaining five being brought to market commercially. At 108,000 sq ft, this is one of the more significant office refurbishments currently live in Leeds city centre.

What This Means for Contractor Accommodation in Leeds

A project of this scale and specification doesn’t run on local labour alone. Facade specialists, M&E engineers, fit-out teams, roofing contractors and public realm crews will be rotating through site over an extended programme. Many of these teams travel from across the UK and need somewhere that actually works for a placement lasting weeks or months.

Hotels near Leeds station charge £120 to £150 a night, have no van parking, no kitchen, and are built entirely around tourists and one-night business travellers. For a team on a twelve-week placement, that setup is expensive, uncomfortable and operationally impractical.

Contractor accommodation close to the city centre gives teams van parking as standard, a fully equipped kitchen, a washing machine, separate bedrooms and weekly rates that make financial sense for the duration of the job. One point of contact, one invoice, no platform fees.

If you have a team working on the Princes Exchange project or elsewhere in Leeds city centre, get in touch with Leeds Contractor Accommodation directly.