Office Space in Town Together With Global Real Estate Firm Forum Partners Completes the £21 Million Acquisition of 20 St Dunstan's Hill

LONDON, October 8, 2014 /PRNewswire/ --

Building is one of the most sought after properties in the City and offers an excellent investment opportunity 

Office Space in Town, one of the UK's leading serviced office providers, together with Forum Partners, a global real estate and asset management firm, today announce the £21 million acquisition of 20 St Dunstan's Hill.

Situated on a prominent EC3 island site adjacent to the iconic monument landmark and close to some of the most high-profile and exciting new developments in the City, the building is an ideal and accessible location for businesses searching for a London base.

Office Space in Town is planning an extensive refurbishment of the 10-storey building, which has 58,097 sq ft of office and ancillary space that is expected to increase close to 60,000 sq ft when complete. The plans intend to make the building suitable for both large companies looking for a London presence as well as SMEs seeking to expand in the capital.

The property is the first acquisition of the second joint venture between Office Space in Town and Forum Partners, which was launched last month. Over £30 million has already been committed to this second joint venture and there are currently advanced negotiations to raise the equity capacity to £100 million.

The first joint venture between Office Space in Town and Forum Partners already includes serviced offices situated in Liverpool Street, St Paul's and Waterloo. These assets have generated excellent returns and the two ventures have portfolios currently valued in excess of £100 million.  

Giles Fuchs, Co-founder and CEO of Office Space in Town, commented:

"20 St Dunstan's Hill is a fantastic building in an excellent location in the heart of the City. It's a perfect base for businesses of all sizes and once we have completed our refurbishment plans it will offer the most up-to-date, high-spec offices and facilities."

Andrew Walker, Managing Partner and co-founder of Forum Partners, commented:  

"We are delighted to be partnering with Office Space in Town on the acquisition of 20 St Dunstan's Hill. It's an excellent investment opportunity and we look forward to working with our partners to transform the building into one of the most sophisticated serviced offices in London."

Contact: Morgan Rossiter, Elizabeth Vincent - +44-(0)203-195-3240