Luxury office developer sets its sights on fresh location
A Leeds-based serviced office provider is setting its sights on Manchester as it looks to expand on its offering across the North.
Gilbanks is working on new developments across the UK and specialises in helping professional services companies unlock the value in their under-utilised office space.
The company says Manchester city centre is a prime location for expansion due to a lack of premium available service provision.
Alex Duckett, managing director, said: “We are actively looking and identifying sites in Manchester which we can fully revitalise and bring dynamic new commercial purpose to.
“There is a lack of suitable property offering a premium full-service spectrum currently in Manchester which means professional services firms and large corporates looking to benefit from this way of working may be forced to look elsewhere or settle for a compromise.
“Large professional and financial services companies have seen significant steps forward in technology and the increasing adoption of agile working practices offer professional service firms the flexibility and freedom to rethink how they use their premium city centre office locations.”
He added: “We help companies recognise workspace is not a negative and business cost, but rather a positive opportunity to support growth and attract and retain talent.
“For large businesses who may be looking to downsize in line with new ways of working or those who simply want to get the most out of their surroundings, we take a forward-thinking approach to maximising productivity in the physical workspace.”
Gilbanks says it creates new and thriving business communities in the heart of commercial centres, which add value to all parties. Tenants are a mix of corporate advisory services, finance and technology companies. It also helps its tenants do business with each other.
The office provider is partnering with Manchester-based OBI Property in order to identify distinctive, iconic buildings in which it can create an aspirational, flexible and contemporary working environment for expansive businesses wishing to focus on productivity.
Gilbanks worked with international lawyers Pinsent Masons in Leeds to support it in creating a new business hub in its prime office location on One Park Row, in the heart of the city’s business district.
The law firm has grown in recent years with more staff in all areas of the business, but the move to agile working was increasingly leading to surplus space.
The Gilbanks development at One Park Row is 100% let since opening in January. The multimillion-pound refurbishment has created a modern, vibrant working environment.
Andrew Cowell, transactions and asset management, OBI, said: “Gilbanks bring a new approach to the office market in Manchester. The team has a proven model of helping professional services companies realise the value of the property to create new business communities that add value.”
It is reported that Manchester is expected to see 11.8% of office employment growth in the next five years.
This growth will be helped by Greater Manchester having one of the largest creative and digital clusters in the UK, employing 63,500 people and generating GVA of £3.1bn each year.
New research from global innovation foundation, Nesta, has revealed that the creative sector in Manchester is growing faster than any other region in the UK apart from London.
