HFD Boosts Serviced Office Portfolio with Strategic Acquisition

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

Key Takeaways

• HFD has acquired Mercury House, a 65,000 sq. ft. office building, for its Ospa serviced office brand.
• The acquisition aims to enhance Ospa's offering with a focus on sustainability and decarbonisation.
• The deal highlights HFD's integrated service model, encompassing acquisition, construction, management, and technology.

Strategic Expansion of Ospa Brand

HFD, a prominent commercial property company in Scotland, is broadening its Ospa serviced office offering through the purchase of Mercury House. Located at Strathclyde Business Park in Bellshill, near Glasgow, the building was acquired from LondonMetric in a multi-million-pound transaction.

This acquisition is a strategic step for Ospa, which launched in early 2024 following substantial investment in refurbishing several office spaces. Ospa aims to provide a unique, all-inclusive, and flexible serviced office solution to the Scottish market, differentiating itself by eliminating the hidden fees often associated with similar services.

Enhancements and Sustainability Focus

The circa 65,000 sq. ft. Mercury House, originally constructed by HFD in 1990, will undergo a comprehensive upgrade and renovation. The focus will be on sustainability and decarbonisation, with plans to reconfigure and enhance common areas. These improvements will include dedicated focus rooms, collaboration zones, showers, and electric vehicle (EV) charging points, alongside significant improvements to the building's energy performance.

Integrated Service Model

The purchase of Mercury House exemplifies the integrated services offered by the wider HFD group. The acquisition, construction, management, renewables, and technology aspects will be handled internally by HFD Property, HFD Construction, HFD Services, HFD Renewable Energy, and HFD DataVita, respectively. This integrated approach ensures a seamless delivery of services, including broadband, telecommunications, security, facilities management, guest services, collaboration spaces, data centre solutions, cloud services, and advanced IT capabilities.

Positive Market Reception

Ospa's portfolio already includes five other buildings across Strathclyde Business Park and Hamilton International Park, all featuring high-quality, sustainable office spaces powered by 100% renewable electricity. Rosemary Hill, director of HFD Services, expressed enthusiasm about Ospa's rapid growth and positive occupier feedback since its launch. She highlighted the quality of space and flexibility as key to its success, noting that the demand necessitated this expansion. HFD aims to simplify office management for businesses, particularly smaller ones, by offering a top-tier, all-inclusive product with transparent, single-bill pricing.

Sources

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