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The Estate Agent who became a multi-millionaire from Office Space

The Estate Agent who became a multi-millionaire from Office Space

Today, a 52-year-old multi-millionaire, co-founder and boss of UK serviced office business Office Space in Town (OSIT), Mr Fuchs says that the three years he spent working for that estate agency in the East Midlands gave him an invaluable grounding.

“It taught me how to interact with people – and how to sell,” he says.

Ambitious to be his own boss, at the age of 21, Mr Fuchs opened his own firm of estate agents with a friend in 1987.

The business was a success, and numerous other profitable ventures followed, including a disaster recovery company, until in 2010 he decided to join forces with his sister Niki and launch OSIT.

Just seven years later OSIT enjoys annual revenues of more than £20m.

Now valued at £200m, it has six buildings in London, and a further four in other parts of the UK.

Serviced offices provide everything an entrepreneur or company needs to go into business. In addition to office space, they have internet access, desks, chairs, meeting rooms and even reception staff they can rely on.

Last year a Chinese real estate asset manager called Kailong took a stake in OSIT for an undisclosed sum.

Mr Fuchs added that the serviced office sector will continue to grow more appealing to investors.

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