New lettings buoy strong start to the year for HFD Offices
The serviced offices arm of HFD Group, a Scottish commercial property and investment company, has reported a positive start to 2022, with a series of new lettings at Strathclyde Business Park and Hamilton International Park.
Around 32,000 sq. ft. of serviced office space has been let to a range of tenants over the last six months, including around 5,400 sq. ft. to EnteroBiotix, the biopharmaceutical company; more than 5,000 sq. ft. to Scottish salmon producer Cooke Aquaculture; and 1,400 sq. ft. to contractors’ support business, Rebus Consulting. The volume of deals is equivalent to around 10% of HFD Offices’ total stock across the two business parks.
The lettings build on a positive end to 2021, with 110,000 sq. ft. of renewals agreed across the portfolio last year. A number of the suites in Strathclyde Business Park have recently been refurbished to accommodate both new tenants and current occupiers’ growing requirements, with HFD offering service agreements and leases that can be tailored to meet businesses’ needs.
HFD said that the increase in activity was due in part to the ongoing movement to return to office working after the pandemic, as well several occupiers expanding their office footprint, taking advantage of the flexible service to help them scale up. Additionally, occupiers benefit from being fully connected within 24 hours, meaning minimal disruption for businesses during an office move.
Rosemary Hill, managing director of HFD Offices, said: “With the lifting of work-from-home restrictions and more businesses returning to the workplace, recent months have seen a significant uptick in lettings activity. We expect to see the positive momentum continue, particularly as companies explore hybrid working arrangements and determine how that impacts their ongoing office space requirements.
“One of the major benefits for our occupiers at Strathclyde Business Park and Hamilton International Park is the fact that we offer flexibility and have a varied portfolio that means we can accommodate changes in their needs. This year we’ve seen that play out for a number of businesses that have grown in size and have needed more space. We have been able to maintain those relationships and find alternative, or extra, space that gives occupiers continuous access to the same level of service.”
Dr James McIlroy, CEO at EnteroBiotix, added: “Following successful series A fundraising last year, we required additional space to accommodate our growing headcount and the expansion of our research base. With a new office base at Phoenix House, we now have a footprint of more than 20,000 sq. ft. across Strathclyde Business Park including purpose built, state-of-the-art labs and warehousing facilities also located nearby.
“The central-belt location was an obvious choice for our business and the full range of facilities management and connectivity services that HFD Offices provides has been incredibly beneficial during a time of rapid growth.”