HFD Boosts Serviced Office Portfolio with Acquisition of Mercury House

Commercial property firm HFD has significantly expanded its Ospa serviced office brand with the acquisition of Mercury House, located at Strathclyde Business Park near Glasgow. This strategic purchase from LondonMetric marks a substantial investment aimed at enhancing HFD's flexible workspace offerings in Scotland.

Key Takeaways

• HFD acquires Mercury House at Strathclyde Business Park for its Ospa serviced office brand.
• The 65,000 sq. ft. building will undergo a comprehensive upgrade focusing on sustainability and decarbonisation.
• The expansion reflects Ospa's rapid growth and positive market reception since its launch.

Strategic Expansion into Serviced Offices

HFD, a prominent player in Scotland's commercial property sector, has acquired Mercury House, a 65,000 sq. ft. office building situated within the Strathclyde Business Park in Bellshill. This acquisition from LondonMetric is set to bolster HFD's Ospa brand, which specializes in flexible, all-inclusive serviced office spaces.

The building, originally constructed by HFD in 1990, will be subjected to a multi-million-pound renovation. The refurbishment will prioritize sustainability and decarbonisation, featuring enhanced common areas with dedicated focus rooms, collaboration zones, showers, and electric vehicle (EV) charging points. A significant emphasis will also be placed on improving the building's overall energy performance.

Ospa's Unique Offering

Launched in early 2024, Ospa represents a substantial investment by HFD into revitalizing several office spaces. The brand aims to provide a distinctive service in the Scottish market by offering occupiers flexible, serviced office space with transparent, all-inclusive pricing, eliminating the hidden fees often associated with other providers. This model simplifies office management, particularly for smaller businesses.

Integrated Services and Future Growth

The acquisition of Mercury House highlights the integrated capabilities within the HFD group. Services spanning acquisition, construction, management, renewables, and technology will be delivered by various HFD subsidiaries, including HFD Property, HFD Construction, HFD Services, HFD Renewable Energy, and HFD DataVita. This comprehensive approach ensures seamless delivery of essential services such as broadband, telecommunications, security, facilities management, and advanced IT solutions.

Ospa's existing portfolio includes five other buildings across Strathclyde Business Park and Hamilton International Park. These locations already offer high-quality, sustainable office environments, with electricity sourced from 100% renewable sources. The positive feedback and rapid growth since Ospa's inception have driven the need for this expansion, underscoring the demand for its flexible and cost-certain office solutions.

Sources

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