Manchester’s most sought after serviced office space at No.1 Spinningfields has a new landlord, a new name and new availability.

• NEW Small Serviced office availability for 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, desks
• LARGE Office Spaces for 19, 20, 24, 26, 28, 29, 34, 40 and 48 desks
• NO DEPOSIT deals, cash in on your old landlords retained deposit
• FREE barista coffee, beer and prosecco taps
• FREE meeting room credits
• Offices from £425 per month + VAT – inc rates, utilities, internet and furniture

If you’d like to book a viewing or to get pricing, call 0800 611 8150

MORE: WeWork No.1 Spinningfields is now Cubo

In May 2024, WeWork vacated their No1 Spinningfields site amid changes to their business model. Located in the heart of Manchester’s financial district, it’s no surprise that this 60,000 sq ft space was quickly snapped up after spending less than a month on the market. This flexible co-working space is now owned by Cubo, joining their growing list of properties throughout the country.

For many years, WeWork was considered the leader when it came to hot-desking or providing co-working spaces, with a revenue of $1.54 billion in the first half of 2019 alone. However, ongoing financial struggles led to a bankruptcy filing in November 2023 and the subsequent relinquishment of many of their properties, including the flagship space in central Manchester. Prior to their departure, WeWork had operated from this bustling inner city location for seven years, serving countless clients during this time, many of whom will continue to access these workspaces under Cubo.

Focusing on offering “workspaces that meet the changing needs of today’s businesses,” Cubo currently have flexible working spaces on offer in Edinburgh, Glasgow, Leeds, Derby, Nottingham, Birmingham and Sheffield. The No1 Spinnningfileds property is their second offering in Manchester, joining their iconic Lincoln Building space in Lincoln Square.

Amid rapid expansion, Cubo has signed a 12.5-year lease on the No1 Spinningfields location, which is set to help them expand their offerings in Manchester city-centre quite considerably. Set across three floors, the modern workspace has space for 1,110 desks.

This purchase is hardly surprising when you consider the company’s rapid growth. For example, they originally purchased a single floor of their Lincoln Square property (16,000 sq ft) in early 2024 before expanding onto an additional floor shortly after due to increased demand from customers and clients in Manchester. This brought their total space within the city to 32,000 sq ft. Their Lincoln Square property will remain operational.

This move is part of the company’s ongoing growth strategy, backed by Literacy Capital, whose funding was offered to facilitate the expansion of this Derby-born business to new sites and locations. They are currently in the process of seeking out new locations so that they can offer their services to clients in other areas of across the country, focusing primarily on start-ups.

Cubo’s swift move to obtain these high-end office spaces in the wake of WeWork’s departure was facilitated by landlord Schroders Investment Management, alongside Cubo’s own legal team, Walker Morris and Rigby & Co. Both parties keen understanding of the property market, and the necessity that this space is well utilised allowed for a deal to be drawn up fairly quickly, with Cubo already preparing to reopen these spaces to clients.

Moving forward, it’s likely that we will hear a great deal more about Cubo, now one of the leading co-working space providers in the UK, especially as they continue to seek out new properties and growth opportunities.

For pricing and availability, compete the form below, or call 0800 611 8150

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Posted by Jonathan Ratcliffe, Sunday 16th June 2024