HFD Boosts Serviced Office Portfolio with Acquisition of Mercury House

Commercial property firm HFD is significantly expanding its Ospa serviced office brand with the strategic purchase of Mercury House at Strathclyde Business Park. This acquisition marks a substantial investment aimed at enhancing its flexible workspace offerings in Scotland.

Key Takeaways

• HFD has acquired Mercury House, a 65,000 sq. ft. office building, from LondonMetric.
• The building, originally constructed by HFD in 1990, will undergo a comprehensive upgrade focusing on sustainability and decarbonization.
• The expansion of the Ospa brand reflects positive market reception and growing demand for flexible, all-inclusive office solutions.

Strategic Expansion of Ospa Serviced Offices

HFD, a prominent player in Scotland's commercial property sector, has further solidified its presence in the serviced office market through the acquisition of Mercury House. Located at Strathclyde Business Park near Glasgow, the circa 65,000 sq. ft. property was purchased from LondonMetric in a multi-million-pound deal.

This move is set to bolster HFD's Ospa brand, which was launched in early 2024 following substantial investment in refurbishing several existing office spaces. Ospa aims to provide a unique, all-inclusive serviced office solution in the Scottish market, differentiating itself by eliminating hidden fees often associated with similar providers.

Enhancements and Sustainability Focus

The newly acquired Mercury House will undergo a significant renovation and upgrade. The refurbishment will prioritize sustainability and decarbonization, featuring enhanced common areas designed for modern work needs. These improvements will include dedicated focus rooms, collaboration zones, modern shower facilities, and electric vehicle (EV) charging points. A key aspect of the upgrade will be a substantial improvement in the building's energy performance.

Integrated Service Offering

The acquisition of Mercury House highlights the integrated capabilities within the broader HFD group. Services such as acquisition, construction, management, renewables, and technology will be delivered by specialized HFD companies, including HFD Property, HFD Construction, HFD Services, HFD Renewable Energy, and HFD DataVita. This comprehensive approach ensures a seamless offering that includes broadband, telecommunications, security, facilities management, guest services, collaboration spaces, and advanced IT and cloud services.

Ospa's Growing Portfolio

Ospa's serviced office portfolio already includes five other buildings situated at Strathclyde Business Park and Hamilton International Park. Each of these locations is committed to providing high-quality, sustainable office environments, with electricity sourced from certified 100% renewable energy providers.

Rosemary Hill, director of HFD Services, expressed enthusiasm about Ospa's rapid growth since its launch. "Since it launched less than 12 months ago, Ospa has gone from strength to strength and the feedback we have received from occupiers is extremely positive," she stated. "The quality of the space and the flexibility of the offering are central to its success to date, and it is great to be in a position which requires us to expand so quickly."

She further elaborated on Ospa's mission to simplify office management, particularly for smaller businesses. "Managing an office space can be a big challenge for smaller businesses, in particular, so with Ospa our ambition is to make that as easy as possible. We’re providing a top-quality, all-inclusive office product and have taken the uncertainty of costs out of the equation – everything is accounted for in one bill, with no hidden extra charges."

Sources

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