OBI pens deal for investment banking firm’s expansion out of London

Investment banking firm Cavendish has announced the opening of a further regional office outside its London headquarters, at Gilbanks, Five St Philips in Birmingham. The new opening comes off the back of Cavendish signing for another Gilbanks space in Relentless’ No. 1 St Michael’s development last year. OBI acted on Cavendish’s behalf for both Birmingham and Manchester locations.

Cavendish, which operates across industry sectors and delivers expert services in M&A, debt, and equity capital markets, hopes to focus both office openings around private M&A. The business currently has around 200 employees in London as well as a regional office in Edinburgh, and will bring an initial 6-8 team members to Birmingham. To lead this growth in Birmingham, Cavendish has appointed Darren Boocock as a Partner in the firm, who has extensive experience in both the Midlands and London markets.

OBI, working closely with Gilbanks, managed to secure the deal for Cavendish at Five St Philips. Opening in September 2025, the Gilbanks workspace will span 22,000 sq ft across two floors, offering a premium environment tailored to professional services firms. Cavendish will benefit from access to Gilbanks’ signature high-quality workspace and amenities, exceptional customer service, and a professional setting designed to impress clients, enhance productivity, and elevate the everyday working experience.

Manchester’s No.1 St Michael’s is also set to be the city’s first fully Net Zero Carbon commercial development both in construction and operation.

Debbie Meredith, Transactions and Asset Management at OBI, said: “From the outset, Cavendish were always focused on finding a best-in-class workspace in both Manchester and Birmingham. Workspace with excellent proactive customer service, high amenity and the flexibility to grow and this is perfectly aligned to what Gilbanks can provide the Cavendish team at both No. 1 St Michael’s and Five St Philips. Cavendish, will no doubt enjoy the array of exceptional facilities on site at both buildings once they are launched in June and September this year”.

John Farrugia, Co-CEO of Cavendish, said: “After the warm welcome we received in Manchester, expanding to Birmingham was a natural next step. The city has a thriving community of ambitious business owners, and we’re delighted to bring our private M&A expertise closer to them—supporting founders and shareholders as they plan for growth, succession, or sale.

Working with Debbie at OBI on our Manchester and Birmingham office acquisitions allowed us to stay focused on building the business. Gilbanks is the ideal home for our team—a high-quality, collaborative space that reflects our ambitions and enables us to deliver even more for clients across the region.”

Cavendish are set to move to No. 1 St Michael’s in June and No.5 St Phillip’s in September.