Flex workspace provider, Cubo, has been identified as the fastest-growing operator in the UK flex office market by CoStar, leaders in commercial real estate information.
Over the past two years Cubo has accounted for 33% of all flexible workspace leasing activity across the Big Six regional cities of Birmingham, Bristol, Edinburgh, Glasgow, Leeds, and Manchester.
This figure is way in excess of the activity of more established operators, such as global workspace giant IWG and Orega, who have achieved 13% each.
According to CoStar’s analysis, flexible workspace continues to grow in popularity across regional markets. While leasing activity by more established operators has slowed, newer entrants like Cubo have seen their market share increase.
This compares to the previous five years when IWG, which owns the Regus and Spaces brands, accounted for just over 40% of leasing activity. However, in the last two years, this figure has dropped to 13%, leaving room for dynamic operators like Cubo to thrive.
This recognition highlight’s Cubo’s rapid expansion and commitment to redefining the workplace experience.
Following a year of sustained growth, during which Cubo opened three sites, the company has announced plans to expand its footprint by 30% year-on-year and venture into European markets, a growth strategy backed by investment firm Literacy Capital, who took a significant minority stake in the business in 2023.
In less than five years, husband and wife team Marc and Becky Brough have acquired 350,000 sq ft of office space over 13 sites.
Recent milestones include establishing a presence in Manchester with two floors at The Lincoln, followed by the acquisition of the former Manchester office of WeWork at Spinningfields and securing space in the Aurora, Glasgow, one of Scotland’s most sustainable office developments.
Most recently Cubo expanded into the London market with the launch of its new workspace at Soho Estates’ Ilona Rose House, W1.
The acquiring agents are Derby-based commercial property specialists Rigby & Co.
Commenting on CoStar’s recent analysis, Marc Brough, CEO of Cubo, said: “This is a brilliant achievement, but we’ve only scratched the surface. Cubo just keeps growing faster and faster.
“A combination of controlling the best in class, Grade A locations in the UK’s top performing cities, together with an unbelievable sales and operations team, is now delivering the level of results which I’m confident will continue to outperform all other operators on a like-for-like basis.
“Cubo is about creating high-end, innovative workspaces where businesses and their teams can thrive. As we continue to expand, we remain committed to delivering exceptional experiences that support productivity, wellness, and growth.
“We’re excited to continue driving growth and supporting occupiers across the UK.”
