Santander UK supports digital agency’s transformative property purchase
Hertfordshire-based digital transformation agency Cyber-Duck has unveiled ambitious expansion plans following the purchase of an Elstree property that has served as its rented headquarters for more than a decade.
Santander UK has provided rapidly growing Cyber-Duck with a £950,000 funding package, which supports the property purchase and includes a working capital facility. The company has also switched its day-to-day banking to Santander UK.
Cyber-Duck has used the funding to purchase the Grade 2-listed property, which is an old coach house and site of archaeological importance on Watling Street, an old Roman road running between Marble Arch and St Albans. It has plans to restore the historic features of the building as well as refurbish its interior, providing staff and clients with a cutting-edge hybrid working environment with spaces dedicated to in-person activities and equipping it with technology to digitally connect with people off-site.
Among its plans to develop a workspace for the future within the property are:
- Customised spaces for think-tanks, problem-solving and social activities, enabling people to digitally connect from off-site and ‘be in the room’ remotely.
- Inspirational areas for product and service demonstrations, accessibility assessments, a device testing lab, and research and development showcases.
- A tech laboratory replete with computing nostalgia areas, an upgraded cinema room, and new virtual reality corner.
- Comfortable working areas that support productivity.
Its enhanced workplace will also be equipped with a 3D printer enabling staff to create sustainable product handouts, and gaming consoles for staff to use during lunch breaks. There are also plans to construct an on-site garden, to establish a lunch space dedicated to healthy eating and set up sports and walking clubs for staff.
Cyber-Duck was established by Danny Bluestone, and since setting up the business from his flat in Mill Hill, London in 2005, it has grown to have a team of 87 in the UK and overseas. It aims to grow its staff by 15% year on year and has plans to open an additional office in central London later this year and an office in Porto, Portugal next year. It is also looking at setting up an entity in the US by 2025.
With clients including large public and private sector organisations, including The Bank of England, The Commonwealth, Mitsubishi Electric and Sports England, the agency is growing steadily. Its turnover increased from £3.2m in 2019 to £6.7m in 2021. This year the delivered revenue forecast is expected to be above £7.5m. Over the past several years, growth in the business has been propelled by government entities undertaking vast digital transformation programmes, requiring Cyber-Duck’s expertise in user experience (UX), service design, web development and DevOps to make the information they hold easier and quicker for people to access. There has also been significant growth in corporates adopting third party apps to innovate in, and enhance, the digital service they offer customers.
Schofield Sweeney provided legal advice to Cyber-Duck on the property acquisition.
Danny Bluestone, founder and CEO, Cyber-Duck said: “With the advent of hybrid working and the need to solidify our cultural hub, we wanted a headquarters that was well positioned for our national and global team as well as our prestigious client base. By purchasing the Elstree building, with the support of Santander UK, we have the freedom to invest in creating dedicated space for both face-to-face and remote work and activities. We plan to improve the building in the most sustainable way possible, reducing our carbon footprint by supporting remote working and moving our technology to the Cloud, hosted by renewable energy data centres.”
John Turner, relationship director at Santander UK, said: “We are delighted to have become Cyber-Duck’s banking partner, supporting the next phase of its growth strategy. The purchase of its existing headquarters, and the agency’s plans to create a cutting-edge hybrid workplace within it, will not only bring it productivity benefits but also help reduce its impact on the environment with the end of daily commutes to the office for its staff.”