HFD Boosts Serviced Office Presence with Acquisition of Mercury House

Commercial property firm HFD has significantly expanded its Ospa serviced office brand with the acquisition of Mercury House at Strathclyde Business Park near Glasgow. The deal, valued in the multi-millions, marks a strategic move to enhance HFD's offering in the flexible workspace market.

Key Takeaways

• HFD acquires Mercury House from LondonMetric for its Ospa serviced office brand.
• The 65,000 sq. ft. building will undergo extensive renovation focusing on sustainability and decarbonisation.
• Ospa offers all-inclusive, flexible serviced office space with no hidden fees.
• The acquisition integrates various HFD group services, from construction to IT capabilities.

Strategic Expansion of Ospa Brand

HFD, a prominent commercial property company in Scotland, is broadening its Ospa serviced office portfolio through the purchase of Mercury House. Located at Strathclyde Business Park in Bellshill, the acquisition from LondonMetric is set to bolster HFD's presence in the serviced office sector.

Renovation and Sustainability Focus

The circa 65,000 sq. ft. Mercury House, originally constructed by HFD in 1990, will be completely upgraded and renovated. 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 improvement in energy performance is also a key objective of the renovation.

Ospa's Unique Offering

Launched in early 2024 after substantial investment from HFD, Ospa provides a distinctive all-inclusive and flexible serviced office solution to the Scottish market. Unlike many competitors, Ospa aims to eliminate hidden fees, presenting a single, comprehensive bill for occupiers. This model has already garnered positive feedback, particularly from smaller businesses seeking to simplify office management.

Integrated HFD Group Services

The acquisition of Mercury House highlights the integrated service capabilities within the broader HFD group. Services including acquisition, construction, management, renewables, and technology will be delivered by specialized HFD companies. This encompasses broadband, telecommunications, security, facilities management, guest services, collaboration spaces, data centre solutions, cloud services, and advanced IT infrastructure.

Ospa's existing portfolio includes five other buildings across Strathclyde Business Park and Hamilton International Park, all offering high-quality, sustainable office spaces powered by 100% renewable electricity.

Sources

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