Citibase has announced that it is planning to add an extra three offices to its company portfolio. These additions will be the first ones for the company since Newable acquired the provider of flexible office spaces at the end of last year.
The firm has recently agreed to sign for its second spot in the centre of Leeds, at the Arena Point skyscraper. Not only that, but they are thought to be in the process of purchasing two other plots, in Scotland and Uxbridge.
In Scotland, in a yet to be confirmed major city, Citibase is reported to be in the final stage of negotiations for 50,000 square feet of new commercial space. Meanwhile, in Uxbridge, the company is close to completing a deal that sees them take 30,000 square feet in The Atrium Building.
These new agreements are a part of the general expansion of the company. They are looking to double their current offering of business hubs and add another 100,000 square feet. This will then mean that they have 43 flexible office spaces across the UK.
The new Leeds hub of Citibase will consist of serviced offices, which are fully furnished, for 216 people and offering 24-hour access.
Steve Jude, Chief Executive of Citibase, talked about explained why they decided to target Leeds for their expansion. He explained that SME's in Leeds were set to add more than £7 billion to the economy in the UK by 2025. The company aimed to provide businesses in the city with some of the highest quality flexible working spaces.
The Centre for Economics and Business Research shared findings that revealed that contributions from SME's to the economy in the UK would increase by 19 per cent in the period between 2016 and 2025, with Leeds based businesses contributing £7 billion. The growth of SMEs gives flexible office providers the opportunity to offer small businesses a place to work, reduce financial risk and take future growth and expansion into account when looking for a workplace.