Octopus boosts Coventry investment with Two Friargate expansion

The deal with Coventry City Council will see Octopus occupy 55,000 sq ft of Grade A office space. It represents one of the most significant recent commercial deals in the Midlands.

The expansion is in addition to the 10,000 sq ft of space that the company occupied in early 2024. The initial deal enabled 150 staff members to transfer to TWO FRIARGATE from the company's Leamington offices.

The additional space will now allow the business to hire a further 300 staff in Coventry, adding to the thousands already hired in the Midlands and following a period of exceptional growth, nationally and internationally. Octopus will now occupy 5 floors at TWO FRIARGATE.

Octopus has held a presence near Coventry since 2019, following the acquisition of Co-op Energy. The company also recently took over Coventry-based Shell Energy, moving a large number of their staff over to the Octopus office as part of the deal. However, improved transport links along with access to new talent from Coventry's two universities, make TWO FRIARGATE a highly attractive location in which to grow.

As Coventry's newest Grade A office building, sitting adjacent to Coventry Railway Station, Octopus benefits from a growing business destination within a major regional hub.

TWO FRIARGATE is also one of the region's most sustainable office buildings. The building is expected to achieve a BREEAM Excellent rating, putting it amongst the top 10% of new buildings for sustainability.

Cllr Jim O'Boyle, Cabinet Member for Jobs, Regeneration, and Climate Change at Coventry City Council said: "We were delighted to welcome Octopus to TWO FRIARGATE and Coventry earlier in 2024.

"Since moving to TWO FRIARGATE, it's become clear that Coventry is the right location for the company to grow. We have been working closely with the Octopus team to facilitate their expansion, and securing an additional long-term commitment is exciting for the city.

"It means more high-quality, green jobs for the city and additional investment from an innovative and fast-growing company. It's a vote of confidence in Friargate, and in Coventry. We are exceptionally connected, have the skills businesses need, and the Grade A space available to support growth."

Mike Cowlishaw, Head of Operations at Octopus Energy's Coventry office said: "Coventry has a brilliant reputation for innovation and growth. We're excited to bring even more green jobs to Coventry and build on a fantastic foundation of smart, talented people.

"TWO FRIARGATE is absolutely the right place to grow our team, and we look forward to a long and productive relationship with Coventry City Council and partners across the city and region."

Published: Thursday, 7th November 2024