Hearing aid maker Oticon to shift Scottish base after more than 50 years in key office deal

From next spring, Oticon will shift its Scottish operations to the park’s Mercury House, from its current site at Cadzow Industrial Estate in Hamilton, where it has been for more than 50 years. It comes after Ospa - the serviced office arm of commercial property company HFD - secured its largest letting this year. The Oticon deal represents more than a third of the available accommodation at Mercury House and marks a further letting to a major occupier, after Kwik Fit moved to substantial space at Duart House last year.

HFD built Mercury House in 1990 and recently acquired the office building from LondonMetric Property. The 65,000 sq ft office space is being refurbished with a focus on “sustainability and amenity enhancements” to reflect Ospa’s offering, with enhanced common areas including meeting and focus rooms, collaboration areas, spa-style shower facilities and a significant improvement to the building’s energy performance, which is powered with 100 per cent green electricity.

Bronwen Coleman, general manager at Oticon, said: “Our new facilities at Mercury House will provide a premium quality workspace for our UK operations and support the continued growth of our business. With CBRE’s guidance, we have shifted from a traditional owner-occupied model to a fully managed workspace, which better aligns with our needs and values.

“As a leading hearing healthcare company, we know that our success depends on a committed and engaged workforce, and these new facilities will give our employees the environment they need to thrive and succeed.”

The majority of accommodation is being taken by Oticon on a long-term lease together with additional space on more flexible terms. The firm was represented by property agency CBRE.

Rosemary Hill, director of HFD Services, said: “Securing a high-quality company like Oticon for Mercury House, in what will likely be one of the largest out-of-town office deals of the year for Glasgow and the west of Scotland, is further validation of our enhanced Ospa offering. We look forward to welcoming the Oticon team next year, once our comprehensive refurbishment and fit-out work at the property has completed.

“Occupiers are increasingly looking for a better quality working environment and access to amenities for their staff, with flexibility in terms that can support changes to business needs and an all-inclusive service delivery that can save them ancillary property costs and management time.”

Built on HFD’s track record of delivering serviced office space for some 35 years, the Ospa brand was launched in February 2024 as Scotland’s “premium, all inclusive, serviced office provider”. It secured just under 100,000 sq ft of lettings in its first year.

In addition to Mercury House, the Ospa portfolio spans five other buildings at Strathclyde Business Park and Hamilton International Park, with each property offering “fully integrated services” from an on-site management team.

“After a successful first 18 months of operation, we hope to announce further deals in the near future,” added Hill.

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