Cubo has secured investment from Literacy Capital plc to facilitate its continued UK expansion.
Literacy Capital, currently ranked #1 of 350 relevant investment companies, has pledged an eight-figure investment to facilitate our plans for expansion and growth here at Cubo, which include securing representation in all leading commercial regions by 2025 and plans to take the brand internationally.
Founded in 2020 by property investors Marc and Rebecca Brough, Cubo is a name that has become synonymous with workplace innovation and desirability, and we have established ourself as the UK’s fastest growing provider of bespoke high-end flex office and co-working space in the Midlands and North territory.
Our original Cubo site opened in Derby, swiftly followed by Nottingham, Sheffield, Leeds and Birmingham, with further openings and expansions planned, beginning with the launch of a brand-new centre on Edinburgh’s prestigious Princes Street in July.
Earlier this year, we announced plans to almost double our footprint by the end of 2023. In addition to increasing capacity within high demand zones such as Nottingham and Birmingham, sites in other leading regional towns and cities have been identified and selected, and those key locations are set to be announced shortly.
Cubo is transforming the traditional serviced office model to enable increasingly intuitive ways of working.
We provide an experience-led lifestyle offering to meet the changing needs of businesses – from hot desking to a designated desk, private office, or entire floor, all available on flexible terms.
Our members benefit from a variety of services and facilities including large communal spaces, private areas, chill-out areas, kitchens, an inclusive barista service with beer on tap, along with a programme of free networking and social events for members. As a result, we are rapidly becoming the location of choice for SMEs, tech companies and blue chip corporates looking for a world class environment where they can develop and thrive, and we are proud to attract a diverse community of members, spanning a huge variety of sectors and industries.
These latest expansion plans come at a time where the flex office market is experiencing unprecedented growth, with demand for serviced space growing by 25% in 2022 alone.
Commenting on the investment from Literacy Capital, Marc Brough, CEO of Cubo, said:
“My team and I are committed to establishing a network of Cubo workspaces across the length and breadth of the UK. Our model of securing leases in prime locations across all the UK’s core cities is reaping massive benefits for our members, with all our sites currently enjoying an average occupancy rate of 98%.
“The opportunity to work with Literacy Capital will enable us to secure further sites quickly, and fit-out in multiple locations simultaneously, 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.
“We look forward to capturing more of the market for hybrid working in 2023 and beyond.”
Richard Pindar, CEO of Literacy added:
“Cubo is exactly the sort of business we are looking to partner with. It has grown very quickly as an independent entity but Marc & his team are savvy enough to recognise that partnering with someone at this stage is the best way to create a sustainable and valuable business. It operates in a rapidly growing market where there is a lot of focus on London, but the regional opportunity is significant if you have the right model. Cubo’s tailored approach to creating client office spaces in prime city real estate is clearly a winning formula given the calibre of its tenants. We are delighted to be supporting their continued roll out and expect the rapid growth to continue!”.