New investment for fast-growing workspace provider

Gilbanks, a high-end workspace provider, is accelerating its expansion plans following investment from entrepreneur Andrew Cope.

The seven-figure funding from Mr Cope will unlock further development opportunities across the UK and Europe. He will also assume the role of chairman of the property company.

Gilbanks currently operates in Leeds and Manchester. It has established a niche in the market by offering professional firms a premium working environment with high service levels and building strong business communities through regular networking. It is led by property expert Alex Duckett, who worked at Savills and Knight Frank before building his own business.

Andrew Cope is a prolific investor with interests that span property, technology and the automotive sectors.

Commenting on the investment, Andrew said: “High occupancy rates in Leeds and strong demand in Manchester show that professional firms are seeking a high-quality working environment to help their staff enjoy time in the office and be productive. Alex and his team have developed a service that stands out in a crowded market, focusing on delivering outstanding service and offices that provide modern ESG standards and employee well-being.

“I look forward to working with Alex to accelerate the roll-out of Gilbanks in vibrant cities across the UK and Europe.”

Gilbanks launched its Manchester operation in March and is now 90% let. The 22,000 sq ft serviced office is located at 11 York Street. The Grade-A building in the central business district has already attracted tenants such as Rolls Royce and Avison Young. The building is operated by Aviva Investors, the global asset management business of Aviva plc.

Leeds-headquartered, Gilbanks works with large corporates to help them take a more creative approach to utilise their large city-centre offices and unlock their value.

Alex Duckett, managing director of Gilbanks, said: “Andrew brings a wealth of experience to the business, and I look forward to working with him. We’ve worked hard to develop a product that companies and their teams find engaging. It’s important that offices are places people look forward to working in and support productivity. We are investing in the latest technology to ensure all our locations enable hybrid working.

“The UK has the largest serviced office market in the world. According to industry research, the UK is experiencing double-digit growth in the flexible office market, and we aim to be a leader in this space.”