Co-working space provider 315 Work Avenue adds 1.25 lakh sq-ft space in Bengaluru
known as Incubex NestaVera, co-working space provider 315 Work Avenue has
signed up a whopping 1.25 lakh sq-ft space in Bengaluru across 2 CBD locations
to expand its business and cater to rising demand of flexible space. The deal,
one of the largest in co-working space leasing, is part of company’s plans to
beef up its total portfolio to 1 million sq ft in the next 1 year with a focus
on south and west India. As part of its investment plan of around Rs. 100 crore
announced recently, 315 Work Avenue aims to bolster its network across Bengaluru
and expand to other cities such as Hyderabad, Pune & Mumbai.
Avenue currently manages around 3 lakh sq ft office spaces spread across
multiple prime locations in Bangalore. Presently, the company has around 6000
seats and aims to touch around 25,000 seats in this financial year.
co-working space provider offers a variety of services and spaces like
enterprise offices, co-working desks, private offices, meeting rooms and
virtual offices to corporates, mid-size enterprises, small teams, start-ups and
entrepreneurs depending on the needs of its users. The key clientele of 315
Work Avenue include corporates who are in a growing phase and are looking for
custom crafted workspaces which meets their expectations.
“We believe there is a massive market opportunity as
co-working spaces are experiencing a high growth trajectory in India. As a
relatively young venture, we already have achieved a phenomenal growth in the
short period and quickly became home to several leading entrepreneurs, a launch
pad for startups and a work hub for millennials in large enterprises. Our
priority now is to deepen the penetration in existing markets and enter newer
cities. The additional capital will aid us in expanding our footprint. We also
plan to expand to tier-II cities in the near future. We look to establish
ourselves as a key player in the Indian shared workspace market.” said Mr.
Manas Mehrotra, chairman, 315 Work Avenue..
The way we work is changing. co-working spaces are greatly disrupting traditional work environments in India. With ever-changing workforce requirements, businesses of all sizes need flexible workplaces. Hence the demand for co-working spaces has skyrocketed over the last few years and it is projected that the demand will continue to increase in the coming years, “This is just the first step in our plans to further disrupt and innovate the co-working space in India,” added Mehrotra, pointing out that 315 Work Avenue boasts a premium work culture that boosts creativity, cross-collaboration and knowledge sharing.