Inside Scoop:
Cubo chats mega WeWork takeover

“Whilst WeWork was a great business once upon a time, it was inevitable that their overexpansion would come to a head”, Cubo’s Chief Commercial Officer, Gareth O’Donovan exclusively tells Flex and The City. Now, marking their second Manchester site and 13th location in the entire portfolio, Cubo has secured a 12.5 year lease of WeWork’s former 7-year abode, at No. 1 Spinningfields.

They grabbed the keys on Tuesday, and opened the doors on Thursday (talk about a quick turn around). “Our IT team camped out for three nights in a row to get this done”, Gareth passionately divulges.

It comes as no surprise that Cubo pounced on this 60,000 sq ft marvel. With a remarkable 90% occupancy rate achieved within just four months at their inaugural Manchester location, the flex operator was eagerly scouting for a second site to continue their impressive growth trajectory. 

"The speed at which our first Manchester site filled up at the Lincoln gave us full conviction that our strategy is working and that a larger site would make sense for us in Spinningfields - the timing was perfect", Marc Brough, CEO of Cubo told Flex and The City.

The coveted Cubo workspace boasts 1,100 desks across 3 floors, including the mezzanine, first and second floor. Amenities don’t fall short- expect 24 meeting rooms, 30 phone booths, and in classic WeWork style, 15,000 sq ft of dedicated communal space. 

Remarkably, Cubo has managed to retain numerous existing tenants and convert them into Cubo clientele. No doubt the flex operator will quickly fill the space, given Lincoln Square is home to big names such as Vera Star and RSA Insurance who each secured 90 desks, plus the biggest tech company in Italy, Reply, who recently secured a whopping 175 desks.

The transition has been nothing but seamless, with WeWork leaving all of their furnishings - a sure bonus for the nearly a dozen Cubo-converted members. Marc has stressed that his team will do their “absolute utmost to make the transition to Cubo as simple and as hassle-free as possible, as we integrate everyone into the Cubo community.”  

But this is more than just a new name on the door. Renowned for their top-notch workspace in the UK’s major regional cities, this flex operator is making its moment. As Marc reiterates, “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 UK.”

“Fundamentally, 1 Spinningfields is a world class office building in a world class location and that's why we've taken the decision to step in”, Gareth concludes, and Flex and The City couldn't agree more.