Wakefield Welcomes Start of Merchant Gate Development
The construction of nearly 50,000 sq. ft. of office space is to get underway in Wakefield following the official launch of the Merchant Gate project in the West Yorkshire City, a development which promises to deliver an exciting space that will become ΓÇ£a new destination for business and leisureΓÇ¥.
Spread across three buildings that will each provide grade A office space, the development will be located around a public area linked to the other elements of the Merchant Gate scheme, including residential accomodation and 35,000 sq. ft. of retail and leisure space.
Speaking to thebusinessdesk.com, Sir Michael Lyons, chairman of English Cities Fund ΓÇô the developer of the scheme explained:
“We are delighted to be officially opening the first phase of the Merchant Gate scheme. This is a really important first step in reshaping a key gateway site and creating a vibrant urban quarter in the heart of Wakefield.ΓÇ¥
Construction of the Merchant Gate development, and the additional office space it will create, comes at a time when the cost of serviced office space in Wakefield has exceeded regional levels for the fourth consecutive month* ΓÇô suggesting that office space within the city remains amongst the most desirable in the wider region.
In the same interview, Wakefield Council leader Peter Box explained how the scheme demonstrated a marked change for the city and its future by stating:
ΓÇ£The face of Wakefield is changing and the Merchant Gate scheme is one of the key regeneration developments driving this transformation. This scheme marks a change in the look and feel of the city centre, and what Wakefield can offer to residents, businesses and visitors.ΓÇ¥
All parts of the development have also been designed with sustainability in mind, reaching a BREEAM rating of ΓÇ£Very GoodΓÇ¥ and with the larger office space units seeking to generate a minimum of 10% of their entire energy requirements through the use of on-site renewable sources.
*Source: officebroker.com based on average workstation price: May ΓÇô August 2010 (WF = ┬ú214.00.) (Yorkshire & Humberside = ┬ú161.00)