Avendus Capital leases around 1 lac sqft office space at Platina, by The Wadhwa Gp

Mumbai, September 22, 2022: Avendus Capital Private Limited, has leased four floors covering a total of approx. 1,00,000 sqft of saleable area at Platina located at G Block in suburban Mumbai’s commercial business district BKC, for a monthly rent starting at about ₹2,53,63,844/-. It has leased the space from The Wadhwa Group.

The lease tenure which was registered on September 16, 2022 is for 60 months which realizes to an average rate of ₹278/- per sq.ft., with both tenant and owner having to stick to a lock-in period of entire 5 years taking the overall value of the deal to approx. Rs 170 Cr.  

Commenting on the lease deal Sameer Kamath, Executive Director and Group CFO at Avendus Capital said, “The premise in Platina, BKC will be our new head office and will house all our businesses, with over 450 employees based in Mumbai. We are a people-intensive business and this is part of our overall growth plans. We plan to move to the new premises in Q4 of FY23.”

“Commercial leasing activity is back in Mumbai with employees returning to office post the pandemic on the back of strong economic growth. The location should command a premium based on the time it takes to reach there and the multiple modes of transport available and therefore BKC perfectly fits the bill for all the leading corporates. These factors have helped us to close the deals efficiently,” said Navin Makhija, Managing Director, The Wadhwa Group.

Platina in BKC houses many premium brands such as SMBC (Sumitomo Mitsui Banking Corporation), Avaya, First Abu Dhabi Bank (FAB), Ferrari, SAP India Pvt.Ltd, Consulate of Chile, Grohe India, Cochlear Medical Devices, etc.