A former WeWork site in Manchester has been acquired by flex office specialist Cubo - which says it is in negotiations to secure more similar bases.
Cubo has taken over three floors at No.1 Spinningfields after “rapidly” striking a deal with Schroder Real Estate Investment Management to create its second Manchester base.
The scheme houses more than 1,100 desks over almost 60,000 sq ft and Cubo says it will make the transition for WeWork users “as simple as possible”.
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Cubo founders Marc and Rebecca Brough say the deal is part of their plan, backed by Literacy Capital Plc, to double Cubo’s national footprint.
The Derby-based company moved into Manchester earlier this year with one floor at the nearby Lincoln Building. It took another floor soon afterwards as demand grew and says occupancy levels reached over 90% in just three months.
No.1 Spinningfields will be Cubo’s 13th site across the Ƶ. It has recently launched second workspaces in Leeds, Nottingham, Birmingham and Derby, while a new workspace in Glasgow is set to open later this month and more new locations will be announced shortly.
Marc Brough, CEO at Cubo, said: “We are beyond excited to have been given the opportunity to operate out of what is one of Manchester’s best office buildings.
“I want to reassure all existing occupiers across the three floors of the flex office space that my team will do our absolute utmost to make the transition to Cubo as simple and as hassle-free as possible, as we integrate everyone into the Cubo community.
“The new Cubo will offer an enhanced level of service to what they have come to expect from WeWork and provide access to all our workspaces across the Ƶ.
“I would like to pay tribute to the team at Schroders and Obi who have acted with great precision and focus to enable this transaction to be completed in a matter of days.”
Cubo were represented by Walker Morris and Rigby & Co.
