315 Work Avenue estimates addition of 5 lakh sqft by 2020


315 Work Avenue, the flexible office operator estimates to expand its total portfolio to one million sqft by 2020, while emphasizing on the south and west India. The firm also plans business expansion in Hyderabad, Pune & Mumbai while making its presence stronger in Bengaluru. The company targets to escalate the total seating capacity to 25,000 by next year.

Manas Mehrotra, Chairman, 315Work Avenue said that the company has made remarkable growth in a short span of time and now we aim to strengthen our feet in the existing markets while venturing into newer cities.

Presently, 315 Work Avenue manages approximately 10,000 seats across 5,00,000 sqft office space at multiple prime locations in Bangalore. The company has signed 600 seats in Bengaluru, Embassy Manyata Business Park and this workspace is spread in 30,000 square feet.

Mehrotra, was quoted saying, that there is huge growth opportunity as the demand for co-working spaces are witnessing huge demand in India and we are confident to play a pivotal role in the Bengaluru market.

In the present scenario, the corporates and multi-national companies prefer offices in the flexible workspace due to various benefits such as the flexible lease terms, innovative & high end workspaces, lower deposit requirements and cost deduction.

As per the CBRE South Asia Q3 office report, the easing activity increased by over 30% annually while crossing 47 million sq. ft. between January-September this year.