Joint venture to establish new serviced offices in London
A SERVICED office provider and a property investment firm have announced a joint venture to acquire properties in London and turn them in to serviced offices.
It’s the second joint venture between Office Space in Town and Forum Partners following an earlier deal in 2012 which saw property acquired in Liverpool St, St Paul’s and Waterloo.
£30million has been raised for the first round of equity and the duo are interested in London properties in zone one, in excess of 25,000 square feet and within a four minute walk of a tube station or rail links.
Giles Fuchs, Co-founder and CEO of Office Space in Town, commented:
“We are actively looking to buy office buildings; we have the funding in place to quickly build a strong portfolio as well as a strong track record as both operators and investors in the serviced office sector.”
Andrew Walker, Managing Partner and co-founder of Forum Partners, added:
“We had a fantastic experience working with Office Space in Town on our first joint venture and we are very pleased to back this second initiative. The serviced office market has been performing well and provides excellent investment opportunities.”