OSiT lands £129m vote of confidence

Office Space in Town (OSiT) is eyeing a new era of expansion after securing a mega £129 million refinancing deal. The long-standing flex owner-operator, famed for its distinctive themed workspaces, is preparing to add a fresh wave of Zone 1 locations to its portfolio. Here’s everything you need to know…

The refinancing, which extends over a minimum two-year period, sees Aberdeen Investments continue its seven-year relationship with OSiT as senior lender, providing £72 million of the total facility.

Advised by PwC, the deal will provide ongoing financial backing for four of the operator’s Zone 1 London buildings across St Paul’s, Liverpool Street, Monument and Waterloo.

OSiT’s wider UK portfolio now spans approximately 225,000 sq ft, with additional locations in Blackfriars and Cardiff. Since launching in 2009, OSiT has carved out its own corner of the flex market. Founded by siblings Giles and Niki Fuchs alongside Sarah Singlehurst, the operator takes an owner-occupier approach, buying, refurbishing and occupying its buildings outright.

And its spaces are anything but conventional. OSiT’s portfolio includes an Alice in Wonderland-inspired workspace in Waterloo, a superyacht-themed Monument location and a Monopoly-inspired Liverpool Street site. The operator has taken the same approach to amenities, moving well beyond desks and meeting rooms with everything from gyms and rooftop café bars to games rooms, bedrooms and hairdressers already featuring across its portfolio.

It appears to be paying off. As of June 2026, the average occupier stay across OSiT’s five London locations stands at 44 months - double the 22-month London flex market average cited by the company.

Now, armed with its latest refinancing package, the operator is seeking an investment partner to support the acquisition of new buildings across Zone 1 London. The expansion will also see OSiT advance its ‘Omni-Office’ vision, centred around larger, integrated work environments that bring an increasingly diverse mix of services under one roof.

And the ambitions don’t stop there. Future OSiT buildings may introduce everything from rooftop padel courts and day nurseries to on-site dental practices as the operator looks to broaden what the modern workplace can offer.

Giles Fuchs, co-founder of Office Space in Town, said: “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, added: “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.”

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