Property Week - Exclusive interview with Giles Fuchs

In January of 2018, RDI bought an 80% interest in four Office Space in Town buildings in Monument, Waterloo, Liverpool Street and St Paul’s that are worth a combined portfolio of £161.7m. The investment is the most valuable on RDI’s books.

In an exclusive interview, Property Week met RDI deputy chief executive Stephen Oakenfull and OSiT founder and chief executive Giles Fuchs at the company’s flagship nautical-themed building in Monument to reflect on the first year of their partnership and ask them what they are planning next.

The investment was testament to the potential of the flexible market’s longevity. Giles commented “The market didn’t know and still doesn’t know how robust the sector’s income stream is. My family started one of the first flexible offices in the UK in 1979, which is still going. The average stay at our Liverpool Street office is 40 months; at Little Britain in St Paul’s is 38 months.”

From RDI’s perspective, it was noted that real estate moves very quickly and as flexible workspace market matures, having a strong presence in the market will be key. The demand for flexible office space is increasing, requiring more desks, and arguably bigger buildings.

The other emerging trend which is impacting the footprint of serviced office buildings is the growing demand from occupiers for services and amenities. However, squeezing gyms and other lifestyle related services into smaller buildings is challenging, and therefore necessitates investment in larger spaces.

Read the article here.