Soaring demand from SMEs for flexible offices results in Citibase announcing four major expansions10/05/2018
Citibase, The Property Manager for the New Economy, has expanded four of its flexible office hubs in London and Manchester to meet booming demand from SMEs. The expanded centres in London’s Victoria Palace Street, Knightsbridge and Millbank together with Manchester Old Trafford, will now provide a combined total of circa 70,000 sq ft of space for up to 1170 SMEs, entrepreneurs and start-ups.
Citibase London Victoria Palace Street (pictured below) is housed in a stunning Edwardian building within Victoria’s prestigious Palace Neighbourhood, just moments from Victoria Station. The centre has been fully refurbished with a smart new boutique hotel style reception and waiting area, with flexible office accommodation spread across seven floors totalling 11,072 sq ft, having grown from just four floors when it opened in May 2017. It now has space for 190 businesses.
Citibase London Knightsbridge occupies a landmark building at 27 Knightsbridge, overlooking Hyde Park and moments from Hyde Park Corner and Knightsbridge underground stations. The centre, which opened on the second floor around six months ago, has now expanded onto the third floor, increasing the centre’s offering from 8,100 sq ft to 12,590 sq ft, with space for 220 workstations.
Citibase London Millbank is the third of Citibase’s central London office hubs to undergo an expansion, demonstrating the level of SME demand in the area. The centre, which offers a landmark address in the City of Westminster, will now offer an additional 7,000 sq ft and up to 130 workstations as it takes over the 15th floor of the iconic Millbank Tower – increasing the total space on offer to 35,459 sq ft and up to 585 workstations. Its prestigious location offers stunning views over the Thames and landmarks including the Houses of Parliament, London Eye and Battersea Power Station.
In the North West, Citibase Manchester Old Trafford (pictured below) has doubled in size, going from 5,500 sq ft to 11,000 sq ft and providing 180 workstations, many of which have already been pre-sold. The centre, which opened in January 2017, has been refurbished to a high specification, and features an impressive reception, six passenger lifts and an on-site café. It is located close to the amenities of Salford Quays, with two Metrolink stops on the doorstep allowing access to the city centre in five minutes.
Citibase CEO Steve Jude commented: “There is an insatiable appetite up and down the country for affordable, flexible serviced offices spaces that don’t tie down SMEs to long contracts, as demonstrated by our four latest expansions. Our recent exclusive business confidence index provides hard evidence for this, with almost three quarters of SMEs telling us that they wanted office contracts of under three years rather than taking the risk of a traditional long lease.
“For building owners with underutilised spaces, signing management contracts with flexible officing providers like Citibase can be the golden ticket to creating a stable cash-generating asset. Having seen the results we’re able to provide them with, we’re seeing many more building owners now working with us across multiple sites, as well as an increase in those coming on board for the first time.”
All of Citibase’s centres offer flexible contracts, office suites of varying sizes and enjoy superfast broadband with a range of internet and telecoms packages and friendly business support services from specialist Concierge teams.