UKFast to double in size

UKFast to double in size

UKFast, the leading cloud and colocation business based at Manchester Science Park, is set to double the size of its HQ in a landmark deal.

The deal will see the business, run by tech entrepreneur Lawrence Jones MBE, secure a further 40,000 sq ft adjacent to its current campus on Manchester Science Park.

UKFast finalised the purchase of the neighbouring building, currently occupied by Laing O’Rourke, as part of an ambitious expansion plan to house their rapidly growing businesses. 

Jones said: “Moving to our current location was a game-changer for us. It was a bold move but the team here have never been happier, so it has worked out brilliantly.

“We’re right on the edge of the city and it gives us the added benefit of car parking and room to not only grow but to create an events area that is now proving an enormous benefit to our clients.

“This deal gives us the opportunity to complete the next stage of our growth. The cost and disruption of relocation would have caused a lot of pain.”

UKFast has reported double-digit organic growth every year since its inception and added more than £10m in recurring revenue in the last two years alone.

Earlier this year the firm announced a £40m fund from the Royal Bank of Scotland to build on its organic growth, which helped it to acquire security specialists Pentest in June.

Jones added: "UKFast is growing faster than ever. It took us 10 years to get to £4m and only another 7 years to reach £40m.

“In spite of Brexit and currency challenges, we just had our best quarter yet winning our three biggest customers.

“I am very excited about the future and the building immediately gives us a home for some of the other embryonic UKFast non-core businesses we are currently developing."

The announcement sees Jones complete his tenth property deal as part of his business portfolio, which includes data centres, a Swiss ski hotel as well as UKFast Campus.

 

 

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