Bengaluru: Co-working space provider 315Work Avenue has leased 800 seats to proptech platform Square Yards at its centre 'Amar Paradigm' at Baner, in Pune, as flexible workspaces continue to gain favour among occupiers.
315Work Avenue currently manages around 20,000 seats spread over one million sq ft across Bengaluru, Mumbai and Pune. The company plans to add another 5 lakh sq ft of office space in six months.
“…This deal reaffirms the potential created by the consistently rising demand of flexible workspaces amongst companies - startups, SMEs, mid-and large-sized enterprises that are looking to adopt hybrid workplace models, amidst the new normal. Companies today are increasingly seeking solutions that reduce their capital expenditure, enhance agility and productivity," said Manas Mehrotra, Founder, 315Work Avenue.
Corporates are gradually adopting a “core+flex" strategy as the concept of work from anywhere is currently more prevalent.
315Work Avenue has witnessed good growth in 2022 and signed up around 3000 seats in the past month, Mehrotra added.
During 2022-24, startups are expected to lease 29 million sq ft, which is a 29% jump from the 2019-21 period when they leased 22.4 million sq ft, according to a recent report by property advisory Colliers and CRE Matrix.
“…We wanted to ensure a modern, tech-enabled, flexible workspace with a convenient commute to meet the demands of our exponentially growing workforce. This arrangement offers convenience and flexibility for the company's employees in a contemporary and safe environment. Hence keeping in mind, the rapidly evolving dynamics around the concept of the workplace, we took decisive action to move into the coworking space," said Anand Moorthy, chief business officer and principal partner - asset management services and Data Intelligence, Square Yards.
