RPC advises Office Space in Town on portfolio buyback deal
International law firm RPC has advised Office Space in Town (OSiT) on acquiring full ownership of its portfolio, following a "transformational deal" that has seen the company buy back 80 per cent of its stake from Brightbay Real Estate Partners.Under the deal, the leading City office space provider can push forward its ambitious growth plans to establish itself as a business worth £1 billion by the end of the decade, as well as take full advantage of the corporate real estate boom seen in cities across the UK post-lockdown.
OSiT was founded in 2009 by Giles Fuchs and his sister Niki to provide businesses and individuals with flexible workspace solutions. The company operates in London, Cardiff, Northampton and Edinburgh.
RPC provided a cross-departmental team with specialist lawyers from the firm's corporate, finance, tax and real estate practices.
Commercial Partner Tom Purton, who led the team, said: “We were delighted to welcome OSiT as a client and assist them in this hugely significant and transformational deal which will pave the way for OSiT to become a major player within the corporate real estate sector."