WeWork India Leases 1.26 Lakh Sq Ft Office Space in Mumbai's Andheri East
WeWork India has signed a long-term lease for 1.26 lakh sq ft of office space in Mumbai’s Andheri East, paying a monthly rent of Rs 1.38 crore.
Wework IndiaOffice SpaceMumbaiAndheriFlexible WorkspacesReal Estate MumbaiDec 30, 2024
The company will be paying a monthly rental of over Rs 1.38 crore for the office space on the 6th, 7th, and 8th floors of the commercial tower Lightbridge in Andheri’s Saki Vihar area.
The total payout through the entire term will be over Rs 87 crore.
The registration of this transaction took place in November, and the lease term will start from August 2025.
The company has already paid a security deposit equivalent to three months' rent, as shown in documents accessed through Propstack, a realty data analytics platform.
WeWork India had recently exited space in one of the commercial towers in Powai, and this new deal is for an alternate space for the coworking hub in the vicinity.
The under-construction office tower is a joint venture between Gamma Constructions and Srishti Group and is expected to be delivered in the next few months.
Gamma Constructions itself is a joint company of Niranjan and Surendra Hiranandani.
Niranjan Hiranandani, Chairman of the Hiranandani Group, commented on the deal, saying, “The Indian commercial realty segment’s performance has been robust so far, and this momentum will be sustained well into FY25-26.
This is driven by evolving market dynamics, strong investors’ confidence, a work-from-office scenario, and balanced economic growth.
Notably, the share of flexible operators and managed office services has grown to represent 20% of the new commercial space being taken up in India, underscoring a significant shift in workplace dynamics.”
In July, WeWork India renewed the long-term lease of office space spread over a total of five floors, totaling 1.4 lakh sq ft, at Nesco IT Park in Mumbai’s western suburb Goregaon.
A week prior to that, the company added 1.40 lakh sq ft of office space through two new leases in Bengaluru and Noida.
WeWork 37 Cunningham, a four-story office with over 1,000 desks across over 60,000 sq ft, is located in Bengaluru, while WeWork Galaxy Business Park in Noida’s Sector 62 has over 1,400 desks across 79,000 sq ft.
Since entering the Indian market in 2017, WeWork India has been continuously expanding its portfolio with over 8 million sq ft of assets and 1 lakh desks signed across 62 locations in key Indian cities, including Bengaluru, Chennai, New Delhi, Gurugram, Noida, Mumbai, Pune, and Hyderabad.
India has emerged as one of the fastest-growing flexible office space markets globally, driven by rising demand for managed space solutions from both large enterprises and agile startups across various geographies and industries, especially after the COVID-19 pandemic.
Frequently Asked Questions
What is the size of the office space leased by WeWork India in Andheri East?
WeWork India has leased 1.26 lakh sq ft of office space in Andheri East, Mumbai.
How much will WeWork India pay in monthly rent for the new office space?
WeWork India will pay a monthly rent of Rs 1.38 crore for the new office space.
When will the lease term start and how long is it for?
The lease term will start from August 2025 and is for over five years.
Which company is developing the office tower in Andheri East?
The office tower in Andheri East is a joint venture between Gamma Constructions and Srishti Group.
How has WeWork India been expanding in India since 2017?
Since entering the Indian market in 2017, WeWork India has expanded its portfolio to include over 8 million sq ft of assets and 1 lakh desks across 62 locations in key Indian cities.
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