Office Space in Town (OSiT), an established provider of flexible office spaces in London, has successfully completed a refinancing agreement worth £129 million. The transaction, which has a term of at least two years, reflects the attractiveness of the London commercial real estate market. Aberdeen Investments acts as the senior lender, providing approximately £72 million in financing, thereby continuing its seven-year partnership with OSiT. Financial advice was provided by PwC.
The agreement secures financing for four OSiT office buildings in London's Zone 1. These locations include St Paul's, Liverpool Street, Monument, and Waterloo. OSiT's entire UK portfolio spans approximately 20,900 square metres (225,000 square feet) and includes additional locations in London Blackfriars and Cardiff. A unique feature of OSiT's flexible workspaces is their thematic design, such as the Waterloo location inspired by "Alice in Wonderland", OSiT Monument in the style of a superyacht, or OSiT Liverpool Street, which is based on the game "Monopoly".
According to real estate service provider CBRE, flexible office spaces are expected to account for a fifth of the London market by 2030. Companies are increasingly seeking adaptable workplace solutions that allow for shorter contract terms, quick access to prime locations, and flexible adjustment of space to changing requirements.
OSiT was founded in May 2009 by siblings Giles and Niki Fuchs, together with their partner Sarah Singlehurst. The company differentiates itself through its owner-operator model, whereby it acquires, renovates, and operates all buildings itself. This allows OSiT to benefit from currently low capital costs when acquiring office properties in London Zone 1, while simultaneously generating value appreciation and stable revenue streams. This approach enables the creation of tailor-made "Omni-Office" environments, customised to tenant needs, and the optimisation of space layout and services.
- —Integrated offerings at locations: gyms, relaxation rooms, rooftop café bars.
- —Additions for future buildings: rooftop Padel tennis courts, nurseries, dental practices.
- —Average lease duration: 44 months across five OSiT London locations as of June 2026, compared to a market average of 22 months.
Giles Fuchs, co-founder of OSiT, described the refinancing agreement as a significant milestone, underscoring the strength of the company's owner-operator model. He highlighted that OSiT has developed a business model focused on value enhancement and stable returns through service, design, and long-term tenant relationships. This support enables the company to further strengthen its portfolio and offer premium flexible workspaces.
OSiT is now seeking to collaborate with an investment partner to finance the acquisition of new buildings in prime locations (Zone 1) and expand its proven owner-operator model. The planned next investment phase aims to drive the further development of the "Omni-Office" vision, which focuses on creating larger, integrated work environments. Martin Barnewell, Head of Commercial Real Estate at Aberdeen Investments, expressed his positive views on the long-standing business relationship and the resilience of OSiT's business model, particularly after the Covid lockdowns, and looks forward to continuing to support the company's growth.
