Citibase Leeds Arena Point has potential to provide more than 12,000 sq ft of office space, and could house about 216 SMEs, start-ups, entrepreneurs and larger corporates.

The facility will be located in the newly-renovated Arena Point building, within the city’s Arena Quarter, close to the Merrion Centre and St John’s shopping centres.

The new hub will be Citibase’s second centre in Leeds, following the opening of Citibase Leeds City Square in 2014.

Citibase Chief Excutive Steve Jude said: “A recent study conducted by Hampshire Trust Bank and the Centre for Economics Business Research (CEBR) stated that SMEs in Leeds are set to contribute £7bn to the UK economy by 2025.

“Citibase is committed to providing these businesses with one of of the best flexible office hubs in the city. Teamed with the booming flexible working revolution, demand continues to soar as businesses both large and small increasingly turn to our low-risk, short-term contracts”.