Office Space in Town (OSiT) Announces Completion of £129 Million Refinancing Agreement Backed By Senior Lender Aberdeen Investments
Deal reinforces confidence in London’s commercial property market and OSiT’s owner-operator model Today, Office Space in Town (OSiT), one of London’s leading flexible office space providers, has announced the completion of a re-financing agreement reflecting growing confidence and investment appeal in London’s commercial property market. The debt refinancing is valued at £129 million and extends over a minimum two-year period. Asset managers Aberdeen Investments are the senior lender in the agreement with a backing of c. £72 million, with theagreement continuing Aberdeen Investments’ seven-year partnership with OSiT. The deal, completed with the support of financial advisors PwC, will provide ongoing financial support for four of OSiT’s Zone 1 London office buildings, including St Paul’s, Liverpool Street, Monument and Waterloo. The company’s UK office portfolio comprises 225,000 sq. ft of office space, with additional locations in London Blackfriars and Cardiff. OSiT’s flexible workspaces are distinguished by unique themes such as the Alice in Wonderland inspired OSiT Waterloo, the ‘super yacht’ designed OSiT Monument and the Monopoly themed OSiT Liverpool Street. According to real estate services agency CBRE, flexible offices are set to comprise a fifth of London’s market by 2030, as businesses increasingly seek adaptable workspace solutions that provide shorter commitments, faster access to prime locations and the ability to scale their footprint in response to changing workforce needs.1 Founded in May 2009 by brother and sister Giles and Niki Fuchs, alongside partner Sarah Singlehurst, OSiT is the only flexible office provider in London that owns all its buildings. OSiT buys, refurbishes and occupies its buildings, allowing the company to benefit from the current low capital costs of buying Zone 1 London office buildings, and create large capital uplift and strong income streams. This owner-operator model enables the company to curate bespoke ‘Omni-Office’ environments tailored to occupier demand and optimise layouts and office amenities in its buildings at scale. Examples of integrated amenities at current OSiT sites feature gyms, bedrooms, rooftop cafe bars, games rooms and hairdressers. As of June 2026, the average length of stay across OSiT’s five London locations is 44 months, double the London flexible office market average of 22 months.2 OSiT is now looking for an investment partner to support its plans to acquire new buildings in Zone 1 locations and continue to scale its proven owner-operator structure. The next phase of investment would enable the company to advance its ‘Omni-Office’ vision, focused on introducing larger, integrated work environments. Future buildings could introduce additional on-site amenities such as rooftop padel courts, day nurseries and dental practices, creating mixed-use workplaces that adapt to evolving expectations on the workplace experience and incentivise office attendance. Giles Fuchs, Co-Founder of Office Space in Town (OSiT), comments: “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, said: “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.” Building, Design & Construction Magazine | The Choice of Industry Professionals
DFI forward funds 200-bed Kingston co-living development in off-market transaction
DFI has established a strong track record of delivering projects in the living sectors across Europe including residential for rent, student accommodation and co-living DFI, an independent pan-European private equity real estate platform, today announces the forward funding of an £80 million gross development value, 200-bed co-living development in Kingston upon Thames, London, through an off-market transaction. London focused developer Viewranks Estates will deliver the project for DFI under a forward funding agreement. The project, which has full planning permission and Gateway 2 approval, is located next to Kingston Train Station, a 30-minute train ride away from Central London. The area is experiencing significant undersupply of housing, with strong rental demand from young professionals and students, particularly recent university leavers just starting out in their careers and working in London. Residential demand is supported by a strong local economy in Kingston, led by consumer, professional services and technology sectors, with Unilever having opened its new HQ campus in Kingston Town Centre earlier this year. Construction of the eight storey co-living building is expected to start imminently. Once complete it will offer 200 en-suite studios at attractive rents that are inclusive of bills and will benefit from generous amenity spaces. Residents will enjoy access to a master-chef style kitchen and ground floor co-working spaces. A state-of-the-art leisure, catering and entertainment offer with a bar and restaurant, a residents’ lounge, cinema, fitness studio, a communal terrace and a games room, is included in the monthly rent. DFI is working to create a bespoke lifestyle brand tailored to the target market and will continue to explore opportunities in this sector, with a focus on key locations within and in close commute to central London. The investment responds to a growing number of young adults and private renters driving demand for affordable, flexible housing in a market where co-living remains undersupplied, with only c.7,000 operational beds across London. DFI was advised by Eversheds, Living for Life, Savills, PwC and Quartz. Francesco Orofino, Investment Director and Head of Hospitality at DFI, commented:“This is a compelling, off-market opportunity to invest in a high-demand, undersupplied sector that is still evolving in London, under a defensive deal structure. We are working with best-in-class architects, designers and sector experts to create a flexible, branded residential experience that appeals to young professionals through ample amenities, living and working spaces, at rents that offer discount to comparable rental housing. With only c. 7,000 co-living beds in the capital, we are bringing forward a high-quality, aspirational asset and one where we see real potential to replicate across the market.” Gavin Neilan, Founding Partner at DFI, added: “This latest investment builds on DFI’s strong track record of creating institutional grade living assets across Europe where we focus on assets supported by demand tailwinds, undersupply and operational expertise. This includes Blaekhus, a student accommodation platform comprising c. 1,200 student units, which DFI sold to PATRIZIA in 2022 for €314 million, as well as Mylo Living, a Danish flex living platform with a 350-unit asset in Copenhagen.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Landmark moment as Piccadilly Gardens planning application goes in
A full planning application for the scheme to transform Piccadilly Gardens has been submitted. The submission – the latest landmark in delivering the proposals to make Piccadilly Gardens more colourful, more vibrant, safer and more inviting – follows public consultation on the plans earlier this summer. Subject to planning permission being granted this autumn, work to make the plans a reality will begin as soon as possible. Public consultation on the detailed design built on previous extensive consultation about what people wanted from Piccadilly Gardens and included drop-in sessions and an online questionnaire. Hundreds responded and were broadly supportive of the plans, with more than half (58%) believing they will provide a safe and welcoming new space, 67% saying they provided clear walking routes and almost three-quarters (70%) saying they would create a greener and more colourful space. Concerns were raised by some about anti-social behaviour and how the transformed Piccadilly Gardens will be kept inviting. The Council and its partners, including Greater Manchester Police and Transport for Greater Manchester, recognise that creating a better Piccadilly Gardens cannot just be about physical improvements but will also require new ways of managing the space to ensure it is maintained as a safe and inviting space. Work to develop this new way of managing the space is ongoing and improvements are already underway, including a strengthened police presence through GMP’s dedicated neighbourhood policing team. In addition to the main consultation, a series of listening and engagement sessions were also carried out with parents and children around the refreshed children’s play area to ensure it reflects their aspirations. New images of how the children’s play area will look have been released as part of the wider application. Key elements of the application include: The plans will also support a safer space through improved sightlines, better lighting and enhanced CCTV. Interim Council Leader Cllr Garry Bridges said: “The moment has arrived when we’re ready to submit our planning application to transform Piccadilly Gardens. It’s taken a lot of work to get to this significant point. “Residents have told us loud and clear what they want from Piccadilly Gardens. They want the area to look better and feel safer and that’s exactly what we’re going to deliver. “There has already been significant investment in the area – including extra police and council resources – with even more on the way. “This application will see a much-improved space: Putting the Gardens back in Piccadilly Gardens, providing a better children’s play area and supporting a more inviting place all round.” The application reference is PLA-2026-001348 viewable at: https://arcusbe.manchester.gov.uk/pr/s/detail/a1DSl000009RsaD Once the physical works are completed, the Council aims to ensure a regular stream of bespoke family-friendly activity and seasonal events to enjoy. The new scheme will complement other changes taking place in the immediate vicinity of the Gardens, including the major Rylands redevelopment (of the Grade II-listed former Debenhams building) which is creating a new office, retail and leisure destination, and the recently-approved plans to refurbish and improve One Piccadilly Gardens . Further planned improvements to the area around Piccadilly Gardens in the coming years will include a multi-million pound investment by Transport for Greater Manchester to create a new, modern transport interchange. In March this year Galliford Try were appointed as lead contractor, working with landscape architect and lead designer Planit and civil, structural and highways engineers Civic to deliver the Piccadilly Gardens transformation. City of Manchester Chief Inspector Mike Tachauer said: “We welcome the next phase of the planning application for the new-look Piccadilly Gardens. Senior officers have been involved in consultations from the outset to ensure there is a strong policing input into these plans. Piccadilly Gardens is a space that everyone should feel safe and secure when travelling in and around the area. Our officers have ensured that elements pertaining to public safety have been one of the key focuses in the planning process including better lighting and more CCTV. “We have had several experienced police officers who have strong experience around policing Piccadilly Gardens who have given an input to these plans, and there are a number of elements we have learnt from, for example, understanding how planters can be misused by those involved in criminality and how we can deter this from happening. “There is also cross organisational understanding that the safety of the Gardens is a multi-agency partnership that we all need to be involved in to ensure everyone is doing their bit to keep our communities safe.” Vernon Everitt, Transport Commissioner for Greater Manchester, said: “These exciting plans for Piccadilly Gardens will bring vast improvements for everyone who passes through it and for the numerous businesses who operate in the vicinity. The Bee Network is already transforming how people move around Greater Manchester and we are developing plans with the local community for a modern transport interchange linking buses, Metrolink and active travel that will help create a city centre that is greener, better connected and welcoming for everyone.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Workman Strengthens Retail and Leisure Team with Matthew Gioia Partner Appointment
Workman LLP has strengthened its retail and leisure property management business with the appointment of Matthew Gioia as a partner, marking his return to the firm where he began his property career 16 years ago. Gioia will co-lead Workman’s London retail and leisure team alongside partner Chris Church, with responsibility for a number of key client relationships as the property specialist continues to invest in its retail and leisure capabilities. The appointment brings Gioia back to Workman following extensive experience across the UK commercial property sector. He originally joined the company’s Manchester office through its graduate scheme before moving to Savills, where he spent four years. He subsequently joined MAPP and has spent the past eight years with the business, helping to lead its retail team and developing significant experience in the management of retail property and client portfolios. His return comes at an important time for the retail and leisure property market, with owners and asset managers increasingly focused on creating well-managed, commercially resilient destinations capable of responding to changing occupier and customer requirements. Gareth Soar, partner at Workman LLP, said: “Matthew joins a team that’s already delivering great results for our retail and leisure clients, and he brings a wealth of experience in the sector to the role. “His appointment reflects our continued investment in specialist talent, and I’m confident he’ll play a key part in helping the team grow and continue to deliver a great service for our clients.” Gioia added: “It’s great to be back at Workman. The firm has grown considerably since I left, but that focus on doing things properly is still very much at the heart of how the team works. “I’m looking forward to working alongside Chris and the wider team, and to putting my experience to work for our clients.” The appointment adds further senior-level expertise to Workman’s retail and leisure property management operation, with Gioia’s experience across different property businesses providing a strong platform to support existing clients and the team’s future growth. Building, Design & Construction Magazine | The Choice of Industry Professionals
Senior Marketing Appointment Supports Next Phase of Growth at Newett Homes
Yorkshire housebuilder Newett Homes has appointed Zoe Wheatley as sales and marketing director, recognising the significant contribution she has made since joining the business. With 22 years of industry experience, Zoe began her career as a sales executive before progressing through a range of senior roles. She joined the Wetherby-based developer as sales and marketing manager in May 2025 and was promoted to head of sales in August the same year. As sales and marketing director, she will now lead the company’s sales and marketing strategy, driving the sales team to achieve its targets and support the wider objectives of the business. Zoe’s responsibilities also include raising brand awareness of Newett Homes’ product and its developments, overseeing all aspects of marketing, and ensuring customers continue to receive an exceptional level of service. Commenting on her new position, Zoe, said: “Newett Homes is an ambitious organisation with a fantastic product, and I’m delighted to have been recognised for my part in driving its success. “I am excited to build on our strengths, raise standards across sales and marketing, and help the business achieve its growth plans while continuing to enhance the brand and customer experience.” Established in 2017, Newett Homes is an award-winning housebuilder dedicated to delivering quality-led homes in hand-picked locations. Employing over 70 people, the business currently has 10 active developments, supported by a growing land pipeline. In April the housebuilder marked a significant step in its growth strategy by acquiring a seven-acre greenfield site in Kirton in Lindsey, Lincolnshire, which is its first development site outside Yorkshire. In March 2026, it was awarded its first five-star rating from the Home Builders Federation (HBF) recognising the businesses continued commitment to excellence in build quality and outstanding customer experience. Newett Homes chief executive, Will Newett, said: “Zoe has made a considerable impact on the business since joining us and has demonstrated the leadership, expertise and drive needed to take our sales and marketing function forward. “Her commitment to developing the team, strengthening our brand and delivering an outstanding experience for our customers will be invaluable as we continue to expand and I look forward to working closely with her as we deliver the next stage of our growth plans.” For more information about Newett Homes visit https://newetthomes.co.uk/ Building, Design & Construction Magazine | The Choice of Industry Professionals
CIOB publishes free building regulations and Building Safety Act advice for clients
A new guide to help construction clients better understand their responsibilities under Building Regulations and the Building Safety Act has been published by the Chartered Institute of Building (CIOB). The free guide is aimed at anyone commissioning building work on behalf of a business, public body, charity or other non-domestic organisation. It clearly sets out a client’s legal duties under the Building Safety Act 2022, as well as helping identify which projects are and are not subject to Building Regulations. The guide also includes a checklist clients are recommended to follow in advance of each project, which covers checking the competence of experts, confirming processes for managing compliance and checking if their project is categorised as a high-risk building. Ayo Allu, Chair of CIOB’s Client Steering Group, said: “As a client your role is no longer simply to commission construction work. You should help ensure it is properly planned, managed and delivered in compliance with the Building Regulations, keeping in mind the decisions you make before and during the project influence safety, quality and compliance. “You are not expected to be a technical expert. However, you are expected to make informed decisions, appoint competent people, provide necessary information to your contractor and estate manager, maintain records and remain engaged throughout the project. “It is not uncommon for projects to be derailed when clients are unaware of the level of involvement they need to have and only realise when it’s too late. By empowering clients to make good decisions from the outset and fulfil their legal obligations, their relationships with their contractors are likely to be easier and their projects more successful.” To download the new guide visit CIOB Building Regulations August 2026.pdf Building, Design & Construction Magazine | The Choice of Industry Professionals