One St Peter's Square

WeWork snaps up second Manchester site

Co-working pioneer WeWork has announced it will be opening its second Manchester location, a 40,000 sq ft space in One St Peter’s Square, just months after confirming it was taking 60,000 sq ft in No1 Spinningfields.

The Spinningfields venue is set to be WeWork’s first outside of London, and is still being fitted out, ahead of opening in November.

Germand fund Deka Immobilien has now agreed a deal with WeWork at One St Peter’s Square, for its 25th UK operation. A third Manchester location is also being sought, again of around 40,000 sq ft.

Desks in WeWork space are priced at around £450/month and are expected to be taken not just by tech entrepreneurs but also by professional advisors looking to be close to them as they start building their businesses.

Mary Finnigan, European director of transactions for WeWork, said: “Manchester was an obvious choice for our second UK city because of the fantastic tech network and business opportunities in the city. We’ve seen huge interest from members after the announcement of our first location. It’s also very important to us to build a community around our locations, so we’re thrilled to be signing our second location so soon after the first.

“Additionally, we’re excited to announce our first Kings Cross location as it’s somewhere our members have been keen for us to move into for some time. Beyond the best-in-class building, the area is a hub for entrepreneurs, start-ups and larger businesses, with fantastic transport connections. We’re looking forward to adding to our membership base in this vibrant, fantastic location.”

Savills advised Deka. One St Peter’s Square is now 85% let.

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