Serviced office provider Office Space in Town has received backing from Chinese investors KaiLong for a joint venture.
The company will pair with KaiLong on two London offices ventures with a total value of £160m.
KaiLong will take a majority stake in LSO I, Office Space in Town’s first joint venture, replacing Forum Partners in the deal.
It will also take a majority stake in LSO II, joining Forum Partners as a shareholder.
The two ventures will focus on City fringe investments of more than 25,000 sq ft.
The first venture already has three serviced offices in Liverpool Street, St Paul’s and Waterloo. The second venture has just one asset, 20 St Dunstan’s Hill, EC3.
Don Tan, vice president fund management of KaiLong, said: “With its vast experience in this sector, Office Space in Town is the perfect partner for us as we expand into the UK.
“We look forward to working with our new partners.”
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