Cuboid, a spin out of leading property giant FI Real Estate Management (FIREM), has announced the pilot launch of a new product, Business in a Box, offering startups and SMEs the opportunity to have their own self-contained business unit.
The Business in a Box product is a 160 sq ft two-storey container, with an office space on top, fitted out with electricity, heating, power points, lighting, windows, flooring and insulation, ready for businesses to get up and running from the off. The product aims to offer companies a more cost-effective, flexible solution to standard office space. A recent study by Area found that after the post-pandemic shift in working patterns, many UK companies are struggling to justify the cost of renting an office which has reached up to £140 per sq ft in some UK cities.
The product is being rolled out on a trial basis across Cuboid’s 150,000 sq ft portfolio, with two sites already launched in Chorley and Eccleston, with further units expected in Q1 2025.
The containers are priced to be affordable to e-commerce companies and small businesses, offering them a professional workspace with storage for stock from £750 per month all inclusive, for a minimum 12-month term.
The Business in a Box launch comes as Cuboid marked its first anniversary by unveiling major expansion plans, setting its sights on becoming the UK’s largest container-based self-storage provider, investing in 36 acres of space to accommodate at least 5,500 containers over the next five years.
Tim Knowles, Managing Director and Founder of FI Real Estate Management commented:
“There is nothing else out there in the market quite like Business in a Box. Times are tough for businesses – traditional office rents are going up, supply is lower than usual, and some businesses have been hit by the changes in the recent Autumn Budget.
“This product offers small businesses, e-commerce companies and startups the chance to get out of their spare bedroom or garage, and have their own professional workspace, where they can efficiently grow their business with storage for stock. It’s a truly unique product and one I’m proud to launch to the market, as someone who started out, like these small businesses, with a dream.
“Business in a Box is another example of how Cuboid is disrupting the self-storage market, delivering a vital product to support our small business economy, and I can’t wait to see these communities grow on our sites around the UK.”
If the pilot of Business in a Box is successful, the product will be fully launched to market on a sign-up basis, aiming for customers to be able to be set up in their new office space within six weeks of sign-up.
You can view all of Cuboid’s 23 locations on the website: https://cuboidselfstorage.com/