Flexible Workplace Operators lease 52% More Office Space in H1-2019 at 4.6 mn sq ft: CBRE

New Delhi, Aug 22 (PTI) Office space leasing by companies providing flexible workplace rose 52 per cent to 4.6 million sq ft during the first half of this year across seven major cities on rising demand for such space from startups and corporates, according to property consultant CBRE.

The leasing of office space by such operators stood at 3 million sq ft in January-June 2018 and 8.3 million sq ft for full last year across seven cities namely Delhi-NCR, Bengaluru, Mumbai, Chennai, Hyderabad, Kolkata and Pune.

Flexible workspace has been classified as business centres, co-working, managed office spaces and hybrid spaces.

"The overall flexible space take-up in India reached about 4.6 million sq ft in H1 2019. During this period, Bengaluru accounted for almost 30 per cent of the leasing by flexible space operators," CBRE said in a report ‘India Flexible Space Digest - H1 2019'.

The total stock of flexible workspace has reached 23 million sq ft.

"India is currently one of the leading flexible space markets in APAC and we expect increasing investments in this segment going forward. Office stock is expected to grow from 600 million sq ft in mid-2019 to a billion sq ft by end of 2030 and flexible space will comprise 8-10 per cent of the total office stock," said Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE.

As per the report, the number of small-to medium-sized deals (20,000-100,000 sq ft) rose from 52 per cent in January-June 2018 to 61 per cent in the same period of 2019. Moreover, the number of large-sized deals (exceeding 100,000 sq ft) increased from 6 per cent to 13 per cent year-on-year in the first half of this year.

"Customized enterprise solutions provided by operators offer a competitive advantage as well as enable them to retain tenants for a longer term. This is expected to continue to attract established corporates towards the flexible space segment," said Ram Chandnani, MD, Advisory and Transaction Services India, CBRE.

The consultant highlighted that co-working operators are now also focusing on tier-II cities such as Jaipur, Chandigarh, Lucknow, and Goa. PTI MJH

Mumbai To Get The Quirkiest Coworking Space With Mumbai Coworking Launch in Andheri West

Due to a phenomenal rise in the Indian startup ecosystem and the new entrepreneurial mindset of the youth, the demands for coworking spaces in Mumbai have gone sky-high. To meet this demand, Mumbai-based entrepreneur Waqar Azmi has recently launched Mumbai Coworking to fulfill the workspace needs of startups and SMEs.
 
Mumbai Coworking is based in Andheri West, the heart of the Western suburbs. It is conveniently located 2 minutes away from the bus stop, 10 minutes from the DN Nagar metro station and 12 minutes from the nearest railway station. This coworking space in Andheri aims to establish its presence as the leading provider of shared office spaces in Mumbai.
 
“When I started up right out of college, there were no options for coworking and hence I had to work out of a small garage-like office. This meant I had to conduct meetings and interviews in coffee shops as I clearly couldn’t call them to my own office. These days a lot of youngsters are starting up early. They want to avoid the hassle of finding an office space, paying a broker, make long-term commitments, furnishing the place, etc and just focus on the business; especially when the team size is less than 10-15 people.”, says Waqar Azmi, Founder and CEO of Sutra Services Pvt Ltd.  
 
The shared office space in Mumbai provides a number of amenities like high speed internet, daily cleaning services, and immediate tech support. They have fully furnished rooms with spacious desks and storage spaces that are ready-to-use. Additionally, Mumbai Coworking also has a fully stocked pantry with a refrigerator, microwave, toaster, and balconies with designated smoking areas in every room accessible by everyone.


 
Waqar further explains, “At Mumbai Coworking’s plug-n-play office, you can get started for as little as Rs 5,000 per month within minutes without brokerage costs, long-term commitments or huge deposits. Another set of people that we’d like to serve are media professionals, CAs, lawyers, stock brokers, & freelancers working from home. Also, remote employees from companies having regional offices in Mumbai. Basically, getting a bunch of like-minded people to work, learn, and prosper together by providing a great work environment.”
 
What makes this place stand out from other coworking spaces in Mumbai is that they’ve gone past the basic necessities and delivered extra perks like unlimited beverages, flexible working hours, etc. Evenings at Mumbai Coworking mean it’s time to indulge in some delicious evening snacks like lip smacking vada/samosa pav, mouthwatering dabeli, their very own Mumbaiyya bhelpuri delivered right at your desk. These snacks come as a part of the package on booking a dedicated seat.


 
The cherry on the cake is the access to Sutra’s very own open-terrace lounge, overlooking the Mumbai skyline; it can be used for creative brainstorming sessions and casual client meetings. Quirky decor masks the walls of the lounge and can give any upscale restaurants in Mumbai a run for their money. If you’re tired from a long week, they also have informal hookah sessions every Thursday on their lounge where you can interact with other members.
 
Despite Mumbai’s soaring office rental prices, Mumbai Coworking has managed to keep their prices remarkably low without compromising on their offerings. Their budget friendly prices start as low as Rs. 5,000 for a floating seat and go up to Rs. 7,000 for a fixed seat inclusive of access to meeting rooms. Members can also avail discounts when they book bulk seats or take up the entire 8-seater, 14-seater, or 16-seater rooms. Mumbai Coworking also offers meeting/conference rooms separately on a half, full day basis for Rs 3,500 and Rs 5,000 respectively. You can also get a daily pass at just Rs. 500.
 
Mumbai Coworking’s shared office space in Andheri is now welcoming new members. You can reach out to them at +91 922 221 3191 / +91 922 220 7277 to know more.

Mumbai To Get The Quirkiest Coworking Space With Mumbai Coworking Launch in Andheri West

Due to a phenomenal rise in the Indian startup ecosystem and the new entrepreneurial mindset of the youth, the demands for coworking spaces in Mumbai have gone sky-high. To meet this demand, Mumbai-based entrepreneur Waqar Azmi has recently launched Mumbai Coworking to fulfill the workspace needs of startups and SMEs.
 
Mumbai Coworking is based in Andheri West, the heart of the Western suburbs. It is conveniently located 2 minutes away from the bus stop, 10 minutes from the DN Nagar metro station and 12 minutes from the nearest railway station. This coworking space in Andheri aims to establish its presence as the leading provider of shared office spaces in Mumbai.
 
“When I started up right out of college, there were no options for coworking and hence I had to work out of a small garage-like office. This meant I had to conduct meetings and interviews in coffee shops as I clearly couldn’t call them to my own office. These days a lot of youngsters are starting up early. They want to avoid the hassle of finding an office space, paying a broker, make long-term commitments, furnishing the place, etc and just focus on the business; especially when the team size is less than 10-15 people.”, says Waqar Azmi, Founder and CEO of Sutra Services Pvt Ltd.  
 
The shared office space in Mumbai provides a number of amenities like high speed internet, daily cleaning services, and immediate tech support. They have fully furnished rooms with spacious desks and storage spaces that are ready-to-use. Additionally, Mumbai Coworking also has a fully stocked pantry with a refrigerator, microwave, toaster, and balconies with designated smoking areas in every room accessible by everyone.


 
Waqar further explains, “At Mumbai Coworking’s plug-n-play office, you can get started for as little as Rs 5,000 per month within minutes without brokerage costs, long-term commitments or huge deposits. Another set of people that we’d like to serve are media professionals, CAs, lawyers, stock brokers, & freelancers working from home. Also, remote employees from companies having regional offices in Mumbai. Basically, getting a bunch of like-minded people to work, learn, and prosper together by providing a great work environment.”
 
What makes this place stand out from other coworking spaces in Mumbai is that they’ve gone past the basic necessities and delivered extra perks like unlimited beverages, flexible working hours, etc. Evenings at Mumbai Coworking mean it’s time to indulge in some delicious evening snacks like lip smacking vada/samosa pav, mouthwatering dabeli, their very own Mumbaiyya bhelpuri delivered right at your desk. These snacks come as a part of the package on booking a dedicated seat.


 
The cherry on the cake is the access to Sutra’s very own open-terrace lounge, overlooking the Mumbai skyline; it can be used for creative brainstorming sessions and casual client meetings. Quirky decor masks the walls of the lounge and can give any upscale restaurants in Mumbai a run for their money. If you’re tired from a long week, they also have informal hookah sessions every Thursday on their lounge where you can interact with other members.
 
Despite Mumbai’s soaring office rental prices, Mumbai Coworking has managed to keep their prices remarkably low without compromising on their offerings. Their budget friendly prices start as low as Rs. 5,000 for a floating seat and go up to Rs. 7,000 for a fixed seat inclusive of access to meeting rooms. Members can also avail discounts when they book bulk seats or take up the entire 8-seater, 14-seater, or 16-seater rooms. Mumbai Coworking also offers meeting/conference rooms separately on a half, full day basis for Rs 3,500 and Rs 5,000 respectively. You can also get a daily pass at just Rs. 500.
 
Mumbai Coworking’s shared office space in Andheri is now welcoming new members. You can reach out to them at +91 922 221 3191 / +91 922 220 7277 to know more.

CoWorking Chain, SproutBox Announces the Launch of India’s Largest Facility in Okhla, New Delhi

Leading co-working chain, SproutBox, announced the launch of India’s largest co-working facility – SproutBox Suryavilas in Okhla, Delhi’s premier business district. Spread over 15,000 square feet, it has the distinction of being the largest and only facility that offers 24x7x365 operations, to cater to the demanding and flexible requirements of its users that include freelancers, start-ups and corporates. SproutBox offers a co-working space, serviced office space, virtual office, or a depending on the needs of its users.

Built in partnership with Suryavilas Luxury Resorts, SproutBox Suryavilas (Okhla) will also be a full-time incubator working closely with food, food tech, and hospitality companies. With a seating capacity for 300+ people, an Auditorium that can accommodate up to 50 people, Meeting Rooms equipped for presentations, an in-house Data Centre, and an Upcoming Maker Space, SproutBox Suryavilas offers an ideal space for Start-Ups, Freelancers and Corporates across Delhi, Faridabad, Noida and Gurgaon.

SproutBox Suryavilas includes all facilities that make this co-working space sought after, including access to high-speed internet, free tea and coffee beverage service, business class printers, spacious common areas, on demand tech support, onsite community managers, cleaning and housekeeping service, and private booths for phone calls.

Co-working spaces are experiencing a high growth trajectory in India. Co-working spaces are expected to receive over US$400 million in investment by 2018 and are expected to grow by 50% in 2017, as per a study by real estate firm JLL.

SproutBox was founded in May 2015, by serial entrepreneurs Rajeev Gupta and Gagandeep Singh Sapra. They launched their first co-working facility in Gurgaon. SproutBox’s philosophy of ‘helping their users succeed’ by creating a supportive ecosystem has been the key to its success. It enjoys a 100% occupancy rate at its Gurgaon facility and is the preferred choice of start-ups such as Zostel, Sqrrl, Crofarm and leading corporates such as IBM and SalesForce.

“Our philosophy informs our long-term strategic intent. Simply stated, if you want to be surrounded by people who will extend a hand to help you grow your business, then you should join SproutBox. Our second facility in Okhla commemorates our second year anniversary in this space”, says Gagandeep Singh Sapra, Co-founder of SproutBox. “With SproutBox Suryavilas we are looking to grow our family of co-workers, collaborators, creators and people full of energy, in order to build the next big thing”, he adds.

“At SproutBox, we have always believed in the words, ‘this is your space’,” says Harpreet Sapra who joins the team of SproutBox to lead the North India expansion. “Each and every aspect of the space has been meticulously designed and executed to ensure that our users get a resourceful place to work at and to share it with other professionals and entrepreneurs which can be highly beneficial. We have been mindful of creating a space that offers a sense of positive energy and productivity."

“With the launch of India’s largest co-working space, SproutBox Suryavilas, we are taking our vision and dream of a collaborative and creative co-workspace a notch higher. We are very excited to see that we have come this far in the last 2 years. This is just the first step in our plans to further disrupt and innovate the co-working space in India.” said Rajeev Gupta, Co-founder SproutBox.

“Co-working spaces like SproutBox offer an ideal environment for creativity, focus, collaboration and growth without the distraction and hassle of office maintenance, housekeeping, security and IT. Our selection of this particular co working space is driven not just by the convenience and the facilities on offer, but also by the promise of a supportive ecosystem, that we believe will be key to our success as we scale up”, says Varun Khurana, Co-founder, Crofram.

SproutBox is also working on the launch of its other Co-Working Spaces across India in the upcoming months.