Flexible office and co-working space provider Cubo Work is under offer to take two floors at The Lincoln office in Manchester, marking its first entrance into the city and the first of four lettings it is planning during the first half of this year.
CoStar News understands the business, which has been largely based in the Midlands and Yorkshire until now, is looking to take the first and second floors at the Brazennose Street address, comprising around 31,000 square feet. Those close to the deal have said the agreement should complete in the second quarter of 2023, while the rental value is likely to be between £38 to £40 per square foot.
The Lincoln provides 102,000 square feet of office accommodation in Manchester's Lincoln Square, which recently underwent a £4 million refurbishment. The Grade A office building provides a flexible, contemporary working environment and is fitted with 16 showers, 60 cycle storage spaces and a yoga and wellness suite.
A sixth floor roof terrace is also accessible to tenants at the M&G Real Estates-owned building, as well as 14 electric vehicle charging points. The property is BREEAM rated 'Excellent' and is wired certified 'Platinum'. Other occupiers have not yet been announced by the landlord.
The move would be Cubo's first office space in Manchester, with the company due to open three other offices by the end of the second quarter of this year. Edinburgh is another "prime location" where the rapidly-growing firm has said it wants to be for the first time. Additional sites are also planned for Birmingham and Nottingham, where it already operates.
The company, launched by property investors Marc and Rebecca Brough in 2020, also leases sites in Derby, Leeds and Sheffield. Cubo's expansion plans, announced last month, will see it almost double its footprint over the coming months.
Cubo provides flexible, modern workspaces, fitting its offices with large communal space, private areas, break-out spaces and kitchens. It targets SMEs, tech companies and corporates.
Speaking last month on its plans to expand into core cities, Cubo's CEO Marc Brough said: "After enjoying a hugely successful 2022, we have taken the decision to accelerate our expansion plans to meet the growing needs of both existing members and other corporate occupiers who have committed to work with Cubo as the business grows a nationwide platform.
"Whilst we are currently working on the launch of four new workspaces, we are also earmarking other provincial cities where we want Cubo to have a presence and more announcements will be made in due course."
CoStar News understands that the group has already identified an office in Edinburgh which will open next quarter, having launched a search for a circa 17,000 square foot office in the Scottish capital.
Last April Cubo agreed a deal for 24,170 square feet on the fourth floor of Two Chamberlain Square in Birmingham's £1.2 billion Paradise redevelopment. It also occupies just under 30,000 square feet at 38 Carver Street in Sheffield, where it has signed a lease until 2040.
Cubo Work was approached for comment, along with landlord M&G Real Estate.
Leasing agents at The Lincoln are Savills, Knight Frank and Cushman & Wakefield.