Office Space in Town (OSiT) has completed a £129 million debt refinancing agreement covering four of its flexible office buildings in central London.
The refinancing runs for a minimum of two years and provides continued financial support for OSiT’s properties in St Paul’s, Liverpool Street, Monument and Waterloo.
Aberdeen Investments is the senior lender, providing approximately £72 million and extending its seven-year relationship with OSiT.
The transaction was completed with support from financial adviser PwC and comes as the flexible office provider seeks an investment partner to help fund further acquisitions across Zone 1.
REFINANCING SUPPORTS FOUR ASSETS
OSiT owns and operates a 225,000 sq ft UK office portfolio, including additional locations in London Blackfriars and Cardiff.
Founded in 2009 by Giles and Niki Fuchs alongside Sarah Singlehurst, the company said it is the only London flexible office provider that owns all the buildings from which it operates.
Its owner-operator model involves acquiring, refurbishing and occupying buildings, allowing OSiT to retain control over layouts, amenities and the services provided to occupiers.
The company’s themed workspaces include an Alice in Wonderland-inspired building in Waterloo, a ‘super yacht’ design at Monument and a Monopoly-themed location at Liverpool Street.
FLEXIBLE OFFICE DEMAND GROWS
OSiT reported that the average occupier stay across its five London locations reached 44 months in June 2026, double the 22-month average for London’s flexible office market.
CBRE expects flexible offices to account for one-fifth of the London office market by 2030 as businesses increasingly seek shorter commitments and the ability to adjust their space requirements.
Existing OSiT buildings include amenities such as gyms, bedrooms, rooftop café bars, games rooms and hairdressers.
Future acquisitions could support larger ‘Omni-Office’ developments incorporating facilities such as rooftop padel courts, nurseries and dental practices.
PARTNER SOUGHT FOR EXPANSION
Giles Fuchs (main picture, inset), co-founder of Office Space in Town, says: “This refinancing agreement marks an important milestone for OSiT and reflects the strength of our owner-operator model.
“We have built a differentiated business focused on capital gain and robust income, through service, design, and long-term relationships with occupiers, and this support enables us to continue strengthening our portfolio and delivering exceptional flexible workspaces.”
Martin Barnewell, head of commercial real estate at Aberdeen Investments, adds: “We have had a long-term relationship with Giles and the OSiT team.
“Having gone through the Covid lockdown, we have seen first-hand how resilient their income and model is.
“We are pleased to continue to support OSiT and look forward to the next chapter of their growth.”
