HFD Boosts Serviced Office Portfolio with Strategic Acquisition

Commercial property firm HFD is significantly expanding 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 the Scottish market.

Key Takeaways

• HFD has acquired Mercury House, a 65,000 sq. ft. office building, to expand its Ospa serviced office offering.
• The acquisition from LondonMetric involves a multi-million-pound deal and includes a comprehensive renovation focused on sustainability.
• Ospa provides flexible, all-inclusive serviced office space with no hidden fees, aiming to simplify office management for businesses.

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 is a strategic move to bolster its Ospa brand of serviced offices, which has seen rapid growth since its launch in early 2024.

The circa 65,000 square foot building, originally constructed by HFD in 1990, was purchased from LondonMetric in a multi-million-pound transaction. The acquisition is set to usher in a period of extensive upgrades and renovations for the entire building. The focus will be on enhancing sustainability and decarbonisation efforts, alongside significant improvements to energy performance.

Enhanced Facilities and Sustainable Design

The renovation plans for Mercury House include reconfigured and upgraded common areas designed to meet modern business needs. These enhancements will feature dedicated focus rooms, collaboration zones, modern shower facilities, and electric vehicle (EV) charging points. The commitment to sustainability is a core element of the redevelopment, aiming to create an environmentally conscious workspace.

Ospa's Unique Market Offering

Launched less than a year ago, Ospa has quickly established itself by offering a unique proposition in the Scottish market. It provides occupiers with flexible, all-inclusive serviced office space, deliberately avoiding the hidden fees often associated with other providers. This transparent pricing model, where all costs are consolidated into a single bill, has been a key driver of its success.

Rosemary Hill, director of HFD Services, expressed enthusiasm about Ospa's rapid growth and positive occupier feedback. "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 stated. She further highlighted Ospa's ambition to simplify office management, particularly for smaller businesses, by offering a top-quality, all-inclusive product with predictable costs.

Integrated Services and Portfolio Growth

The acquisition of Mercury House also showcases the integrated services offered within the wider HFD group. The deal leverages HFD's expertise across various divisions, including property acquisition, construction, management, renewable energy, and data technology. This comprehensive approach ensures that tenants benefit from a full suite of services, including high-speed broadband, telecommunications, security, facilities management, and advanced IT capabilities.

Ospa's portfolio now extends to five other buildings across Strathclyde Business Park and Hamilton International Park. All Ospa locations are committed to providing high-quality, sustainable office environments, with electricity sourced from 100% renewable energy suppliers.

Sources

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