Citibase is in plans to add a further three office locations to its portfolio. These will be the first additions to the company’s range of spaces since the flexible office provider was acquired by Newable late last year.
The company has just signed for its second location in Leeds city centre, at the 20-storey skyscraper Arena Point. On top of this, they are understood to be under offer on two other spaces in Uxbridge and Scotland.
In Uxbridge, Citibase is reportedly close to completing a deal for 30,000 square feet of space at The Atrium building. Meanwhile, in an as yet un-named major Scottish city, the company are reportedly in advanced negotiations to take 50,000 square feet of new commercial space.
These new deals are part of an overall expansion, in which the office provider looks to double the number of business centres it currently offers. These new spaces will add another 100,000 square feet to their current offering, as well as bringing them up to a total of 43 flexible office locations across the country.
Citibase’s new hub in Leeds will comprise of fully-furnished serviced offices with 24-hour access, big enough for 216 members overall.
Citibase chief executive, Steve Jude, laid out their reasons for targeting Leeds: “SMEs in Leeds are set to contribute £7 billion to the UK economy by 2025. Citibase is committed to providing these businesses with one of the best flexible office hubs in the city”.
Research by the Centre for Economics and Business Research revealed that SME contributions to the UK economy will grow by 19% from 2016 to 2025 and that indeed Leeds SMEs will contribute £7bn. This rise of SMEs creates fertile ground for flexible workspace providers who can give smaller companies an opportunity to avoid financial risk and factor in any possible growth or expansion.