{"id":34,"date":"2021-06-24T05:12:42","date_gmt":"2021-06-24T05:12:42","guid":{"rendered":"https:\/\/www.indextap.com\/blog\/?p=34"},"modified":"2021-06-24T06:05:30","modified_gmt":"2021-06-24T06:05:30","slug":"co-working-spaces-on-the-rise-in-bkc-mumbai","status":"publish","type":"post","link":"https:\/\/www.indextap.com\/blog\/co-working-spaces-on-the-rise-in-bkc-mumbai\/","title":{"rendered":"Co-Working spaces on the rise in BKC, Mumbai."},"content":{"rendered":"\n<p>After Wework, Quest Office, Awfis leases 24k sqft in BKC at MG or 42% revenue share.<\/p>\n\n\n\n<p>Awfis, a co-working office space provider leased 23,648 sqft in Crescenzo, a commercial office building in Bandra Kurla Complex in 1 st week of August 2017. Awfis will be paying higher of minimum guaranteed initial rent of Rs 125 per sqft per month or 42% revenue share to the landlord DKJ Shelters. IDFC was the previous occupant at the said premises. Awfis negotiated 3 months\u2019 rent-free period in the 60 months lease term to complete fit-outs in the leased premises at its own expense. The lease rent will increase by 9.6% to Rs 137 per sqft per month after 1 year. Additionally, the tenant has to pay common area maintenance charges which are currently estimated at Rs 10 per sqft.<\/p>\n\n\n\n<p><strong>Featured in:<\/strong>&nbsp;<a href=\"http:\/\/www.business-standard.com\/article\/companies\/co-working-spaces-lease-large-buildings-to-make-room-for-others-117080901788_1.html\" target=\"_blank\" rel=\"noreferrer noopener\">Business Standard<\/a><\/p>\n\n\n\n<p>The space is expected to be operational by November 2017. The global leader in co-working space, Wework leased out entire 1.9 lac sqft in Sambhav\/Enam Building, BKC in January 2017 and is expected to be operational by September 2017.<\/p>\n\n\n\n<p>Co-working as a workplace option is gathering momentum in several gateway cities globally, and increasingly more corporations have already started to realise that it offers a great potential for fostering innovation. This trend is evident from the 1.5 million sq ft leased space occupied by Co-working office providers across major Indian metros over last 1-2 years.<\/p>\n\n\n\n<p>In another transaction in July 2017, Quest Offices, a Co-working office space provider, has relocated from 1 st floor in Crescenzo building to 8th floor in same building. Quest has leased 13,469 sqft at initial bare shell rent of Rs 152 per sqft for period of 5 years. Additionally, the landlord will be doing fit-outs of the premises for which Quest Offices shall pay additional fit-out rent of Rs 30 per sqft per month for entire lease term.<\/p>\n\n\n\n<p>We foresee the co-working office industry to pick-up in the future with initial interest in prime office precincts such as BKC, Andheri and Powai in Mumbai; Connaught Place, Okhla in Delhi; Koramangala, Whitefield in Bengaluru etc.<\/p>\n\n\n\n<p>Some of the KEY leases by Co-working office providers in Mumbai are as follows<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Co-working Firms<\/strong><\/td><td><strong>Precinct<\/strong><\/td><td><strong>Property Name<\/strong><\/td><td><strong>Area Leased<\/strong><\/td><td><strong>Rent in Rs per sq ft per month<\/strong><\/td><\/tr><tr><td>Wework<\/td><td>BKC<\/td><td>Sambhav<\/td><td>1,88,488<\/td><td>226<\/td><\/tr><tr><td>Innov8<\/td><td>Andheri<\/td><td>Boston House<\/td><td>11,800<\/td><td>44<\/td><\/tr><tr><td>iKeva<\/td><td>Kurla<\/td><td>Art Guild House<\/td><td>10,395<\/td><td>102*<\/td><\/tr><tr><td>Awfis<\/td><td>BKC<\/td><td>Crescenzo<\/td><td>23,648<\/td><td>125<\/td><\/tr><tr><td>Quest Offices<\/td><td>BKC<\/td><td>Crescenzo<\/td><td>13,469<\/td><td>152<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>* -Fitted out, Source :&nbsp;<a href=\"https:\/\/www.crematrix.com\/\">CRE Matrix<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After Wework, Quest Office, Awfis leases 24k sqft in BKC at MG or 42% revenue share. Awfis, a co-working office space provider leased 23,648 sqft in Crescenzo, a commercial office building in Bandra Kurla Complex in 1 st week of August 2017. Awfis will be paying higher of minimum guaranteed initial rent of Rs 125 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-container-style":"default","site-container-layout":"default","site-sidebar-layout":"default","disable-article-header":"default","disable-site-header":"default","disable-site-footer":"default","disable-content-area-spacing":"default","footnotes":""},"categories":[3],"tags":[],"class_list":["post-34","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/posts\/34","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/comments?post=34"}],"version-history":[{"count":1,"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/posts\/34\/revisions"}],"predecessor-version":[{"id":35,"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/posts\/34\/revisions\/35"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/media\/38"}],"wp:attachment":[{"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/media?parent=34"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/categories?post=34"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indextap.com\/blog\/wp-json\/wp\/v2\/tags?post=34"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}