Co-working and flexible office provider, Cubo, will be arriving shortly at Two Chamberlain Square in Paradise, Birmingham, a move seen as another vote of confidence in the city’s economic growth and market for commercial space.
Cubo has taken a 12.5 year lease for the whole of the fourth floor of Two Chamberlain Square. The 24,000 sq ft space will be dedicated to nurturing and supporting local SMEs by giving them a world class environment in which to develop and thrive.
With a presence in five cities, including Birmingham, Derby, Nottingham, Leeds and Sheffield, Cubo is already the leading provider of co-working space in the East Midlands and Yorkshire, and now has a class-leading base in the West Midlands too.
Cubo adds another dimension to the range of commercial occupiers that call Paradise home and is the fifth new occupier for Two Chamberlain Square.
Founded in 2020, Cubo is expanding swiftly with a contemporary offer for occupiers looking for new ways of working and ways to connect. Its space includes a choice of co-working and dedicated spaces to deliver a truly tailored working environment for the full range of corporate organisations, small and large.
It has already registered interest in over 50% of the fourth-floor space. Cubo’s move brings a different kind of flexible and co-working provider to an increasingly competitive market.
Rob Groves, regional development director with Paradise development manager MEPC, said: ‘The arrival of Cubo brings a further high profile and high-quality occupier to Two Chamberlain Square, and is another vote of confidence in the business health of the city centre.
‘The Cubo offer is a great match for Paradise and places flexible but high-quality co-working space at the heart of the development. We’re confident Cubo will quickly become an established part of the city’s business community and an asset for the Paradise estate.’
Marc Brough, Managing Director of Cubo, said: ‘This move to Birmingham and Paradise underlines our strategy of building a national presence of co-working spaces for Millennial and Generation Z-led SMEs and corporate clients. With locations in the very heart of thriving city centres with connectivity on the doorstep and proximity to like-minded organisations and individuals, we are establishing essential new workplaces built on accessibility for both staff and clients.
‘Two Chamberlain Square is a fantastic building that has already impressed a wide range of occupiers and their staff and underlines our approach. We’re sure our customers will come to the building because of its unbeatable location, local amenities and the sheer quality of the space. It is a place with a real presence on Birmingham’s skyline and is an integral part of the city’s premier civic square.’
Chris Taylor, CEO of Real Estate at the international business of Federated Hermes, said: ‘Cubo is another significant investment from a high-quality occupier creating an excellent asset for Paradise, for the city and its business community.
‘Together with our private and public sector partners, Paradise is creating a meaningful, job-creating and enterprise supporting business ecosystem right in the heart of Birmingham. This is yet another vote of confidence in the city’s ability to bounce back economically and underlines the success of the city’s ongoing renewal.’
The move follows on from other recent moves at Paradise, including the plans to complete Phase Two and bring forward Octagon, the world-first octagonal residential tower on the northern apex of the site. Together, recent announcements bring the total number of buildings completed, underway, or in the development process as part of the overall Paradise masterplan, to six.
Paradise has already completed phase one of its development with One Chamberlain Square and Two Chamberlain Square providing some of the best views in Birmingham with stunning vistas across Chamberlain Square itself, and of the city’s impressive Classical and Victorian civic architecture.
PwC, the leading professional services firm, moved its 2,000-strong team to One Chamberlain Square in January 2020. It has since been joined at Paradise by DLA Piper, which has taken occupation of the top two floors of Two Chamberlain Square, along with Knights, Mazars and Atkins also in the building. Meanwhile, Arup has committed to taking three floors of the new One Centenary Way building in 2023.
At almost 2 million square feet, Paradise is delivering up to ten new flagship buildings, offering offices, shops, bars, cafés, restaurants, a high-quality hotel and Octagon, the world-first 49 storey pure octagonal residential tower, across 17 acres in the heart of the city.
The Paradise redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council. The private sector funding is being managed by the international business of Federated Hermes, which has partnered with Canada Pension Plan Investment Board (CPP Investments) on the three commercial buildings. MEPC is the development manager.
Paradise sits in the country’s largest city centre Enterprise Zone and has already benefited from investment by the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) in enabling and infrastructure works.
