Redbrick Offices Subsidiary Acquires 22 Commercial Units in Mumbai's Andheri
Red Fox IT Infra LLP, a subsidiary of Redbrick Offices, buys 22 office spaces in Mumbai's Andheri for ₹267 crore.
Mumbai Real EstateCommercial PropertiesRedbrick OfficesCo Working SpacesAndheri EastReal Estate NewsJul 09, 2024
The company has acquired a total of 22 office units on the 6th, 7th, and 8th floors of the Times Square building in Marol area of Andheri East. While the deal for 18 offices was registered on May 3, 2024, the remaining four office units were registered on May 8, 2024. The stamp duty paid for the entire transaction comes to over ₹8 crore, and the per sq ft rate of the transaction works out to be around ₹30,500 per sq ft.
The seller in the deal is NTPL Developers LLP. Red Fox has also purchased 88 car parking spaces from NTPL Developers LLP and others as part of the deal. According to local brokers, the Andheri East area is home to several co-working office spaces.
Redbrick Offices is a co-working office space management company with 35,000 seats spread over 31 centers. The company is present in cities like Mumbai, Pune, Navi Mumbai, Thane, Bengaluru, and Hyderabad. In Mumbai, the company is present in several commercial areas like Bandra Kurla Complex (BKC), Goregaon, Andheri, and Lower Parel.
This deal is part of the growing trend of commercial property investments in Mumbai. ICICI Prudential Asset Management Company Limited had recently purchased 1,464 sq m of land along with a commercial space comprising 12 floors spread across an area of 63,000 sq ft in Santacruz East, near Mumbai International Airport, for ₹315 crore. Incuspaze, another co-working office space provider, had also leased 5.8 lakh square feet of office space in Gurugram.
information Redbrick Offices is a co-working space provider with a presence in several cities across India. The company provides flexible and collaborative workspaces to businesses and entrepreneurs. NTPL Developers LLP is a real estate development company based in Mumbai.
Redbrick Offices is a leading co-working office space management company with a presence in several cities across India. The company provides flexible and collaborative workspaces to businesses and entrepreneurs.
Frequently Asked Questions
Who is the buyer of the 22 commercial units in Mumbai's Andheri?
Red Fox IT Infra LLP, a subsidiary of Redbrick Offices
What is the value of the deal?
₹267 crore
Where are the office units located?
Times Square building in Marol area of Andheri East
How many car parking spaces were purchased as part of the deal?
88
What is the per sq ft rate of the transaction?
Around ₹30,500 per sq ft
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