HFD Bolsters Serviced Office Presence with Strategic Acquisition

Commercial property firm HFD is significantly expanding its Ospa serviced office brand with the recent acquisition of Mercury House at Strathclyde Business Park. This strategic move underscores HFD's commitment to providing flexible, all-inclusive office solutions in the Scottish market.

Key Takeaways

• HFD has acquired Mercury House, a 65,000 sq. ft. office building, to expand its Ospa serviced office portfolio.
• The acquired property will undergo significant upgrades focusing on sustainability and decarbonization.
• Ospa offers a unique, all-inclusive serviced office model with transparent pricing.

Expansion of Ospa Serviced Offices

HFD, a prominent commercial property company in Scotland, has announced the acquisition of Mercury House, located at Strathclyde Business Park near Glasgow. This acquisition marks a significant step in the expansion of its Ospa brand of serviced offices. Mercury House, originally built by HFD in 1990, spans approximately 65,000 square feet.

The deal, valued in the multi-millions, was completed with LondonMetric. The acquisition is set to usher in a comprehensive renovation of the entire building. The upgrades will prioritize sustainability and decarbonization efforts, featuring enhanced common areas designed for modern work needs. These improvements include dedicated focus rooms, collaboration zones, modern shower facilities, and electric vehicle (EV) charging points, alongside substantial enhancements to the building's energy performance.

Ospa's Unique Offering

Launched in early 2024, Ospa represents a significant investment by HFD into refurbishing multiple office spaces. The brand aims to provide a distinctive offering in the Scottish market by delivering flexible, serviced office spaces on an all-inclusive basis. A key differentiator for Ospa is its commitment to eliminating hidden fees, a common issue with other service providers, by consolidating all costs into a single, transparent bill.

Integrated Services and Future Growth

The acquisition of Mercury House highlights the integrated service capabilities within the broader HFD group. Services such as acquisition, construction, management, renewables, and technology are delivered by specialized HFD subsidiaries, including HFD Property, HFD Construction, HFD Services, HFD Renewable Energy, and HFD DataVita. This comprehensive approach ensures access to essential services like broadband, telecommunications, security, facilities management, guest services, collaboration spaces, and advanced IT and data center solutions.

Ospa's existing portfolio already includes five other buildings across Strathclyde Business Park and Hamilton International Park. These locations are known for their high-quality, sustainable office environments, with electricity sourced from 100% renewable energy providers.

Rosemary Hill, director of HFD Services, expressed enthusiasm about Ospa's rapid growth since its launch less than a year ago. She noted the overwhelmingly positive feedback from occupiers, attributing the success to the quality of the spaces and the flexibility of the offering. HFD aims to simplify office management, particularly for smaller businesses, by providing a top-tier, all-inclusive product that removes cost uncertainty.

Sources

• HFD buys LondonMetric office for next serviced office scheme, CoStar.
• HFD expands serviced office offering with purchase of Mercury House, Scottish Construction Now.