Regus to lease 16,000 sq ft in Assotech Business Cresterra

Regus, an office space provider, is set to lease around 16,000 sq ft of space for opening a business centre in a mixed-use project of Assotech Realty in Noida, according to a published media report.

“We have signed a term sheet with Regus, but the signing will be done only after completion certificate in another one month,” said Salil Kumar, Director, Assotech Realty.

Assotech Business Cresterra, located in Sector 135 on Noida e-way, 1.8-million-sq-ft is an integrated business park comprising 75,000 sq ft of retail spaces, around 1.6 million sq ft of office spaces and 150,000 sq of 190-key serviced suites, which will be managed by Lemon Tree Hotels.

According to a report, Assotech Realty is in process of completing the first phase of the project with a total salable area of 11 lakh sq ft. The balance will be completed in the second phase.

Property consultant CBRE has been appointed for managing this commercial project. The office spaces are available in both outright sale and leasing models.

Senior official of Regus India also confirmed the deal. “We are currently in talks with Assotech Realty for their prime property Assotech Business Cresterra in Noida,” official said. “However, we will not be to share any more information on this as this is still in discussion”, he added.

“Commercial has become the prime focus for the company. We decide on projects based on research and results say this is a good time to invest in commercial assets,” said Kumar of Assotech Realty.