Gilbanks to grow footprint with funding boost

A Leeds-based workspace provider is set to expand its presence across major UK cities with a multi-million-pound investment.

Gilbanks, which already has locations in Leeds, Birmingham and Manchester, has secured funding from Frontier Development Capital (FDC), part of Mercia Asset Management, to accelerate its growth strategy in the flexible office space sector.

Bosses say the funding will help Gilbanks meet rising demand for premium, service-led workspaces, allowing the company to “expand across the UK as we find suitable sites with forward-thinking landlords”.

The investment follows Gilbanks’ recent expansion into Birmingham, where it is set to open a 22,000sq ft workspace at Five St Philips, as well as the recent launch of a 34,000sq ft office at Manchester’s £400 million No.1 St Michael’s development.

Alex Duckett, Gilbanks managing director, said: “Businesses and landlords recognise the office landscape has shifted towards a more service-led, experience-driven model.

“At Gilbanks, our priority has always been to enhance the customer experience by selecting the best locations with outstanding sustainability credentials and top-tier amenities.”

Ondrej Okeke, FDC investment director, added: “The flexible workspace sector is a familiar and exciting market for us.

“Gilbanks’ strong management team, solid track record, robust income model and impressive pipeline made this a particularly attractive opportunity.

“We look forward to supporting Gilbanks’ expansion as they target new locations in strategic urban centres and grow a national footprint.”