The Lincoln bags its first tenant in flexible office provider, Cubo
Cubo, the flexible office operator, has taken 16,000 sq ft of space at The Lincoln, in Manchester’s Brazennose Street, on a 12.5-year lease.
With seven locations across the UK, Cubo offers Grade A flexible office space for a range of occupiers including start-ups, SMEs and corporates.
Facilities at M&G Real Estate’s flagship mixed-use scheme include hot desking, designated desks, studios for up to 20 employees and private offices for up to 50.
All Cubo members benefit from 24/7 access, use of communal spaces with a barista service, meeting rooms, networking events and the ability to transfer memberships between Cubo offices and locations.
Advised by the Colliers specialist flexible workspace team, this will be Cubo’s first flexible office operation in Manchester and follows its plans to double its footprint nationally by the end of 2023, following backing from investment firm Literacy Capital.
The deal with Cubo marks the first letting at The Lincoln which was developed in partnership with Marshall CDP in the regenerated Lincoln Square, with work completing on site in summer 2021.
The new 102,000 sq ft building offers Grade A workspace as well as prime retail and F&B units in the heart of Manchester city centre. Occupiers benefit from the sixth-floor roof terrace alongside a range of other amenities including a yoga and wellness suite, relaxation room, EV charging points, changing and shower facilities as well as 60 cycle storage spaces.
The building also has a BREEAM Excellent rating, automated LED lighting control, energy monitoring system, and a central air handling system which provides fresh air to all floors.
Marc Brough, CEO at Derby-based Cubo, said: “Having started in the Midlands and Yorkshire we are now extending our footprint across the whole of the UK.
“Finding the right location in Manchester has been high on our agenda for some time and The Lincoln meets our requirements perfectly. It offers the high end, contemporary look and feel that complements our aesthetic within a super prime location.”
Aaron Pope, director of asset management at M&G Real Estate, said: “The development of The Lincoln continues our strategy of creating Grade A, sustainability-led assets of scale in prime locations across the UK.
“The Lincoln demonstrates our ongoing commitment to Manchester where our assets are attracting strong interest from leading and innovative occupiers such as Cubo, whose decisions are influenced by strong sustainability and wellbeing criteria, enabling us the opportunity to deliver compelling returns for our investors.”
Paddy Kennedy, from Colliers, who advised Cubo on the deal, said: “Cubo is a perfect fit for The Lincoln. Following a period of rapid growth, they have quickly established themselves as a leading provider of high end flex office and co-working space in the UK.
“The fit out and flexibility that Cubo offers will provide an added attraction to occupiers considering taking space in The Lincoln, as not only do they have the flexibility and meeting spaces at their fingertips, but they also benefit from the community feel and life that a well run flex operator brings to a traditional office building.”
Colliers acted for Cubo. Cushman & Wakefield, Savills & Knight Frank acted for the landlord.
M&G Real Estate is part of M&G plc’s £76.6bn private assets and alternatives division.
