315Work Avenue leases 600 seat workspace at Embassy Manyata Business Park

Continuing to spread its footprint in the sprawling city of Bangalore, 315Work Avenue, a leading co-working space provider has leased 600 seat workspace at Embassy Manyata Business Park, the largest tech park in Bangalore and second largest in India. This new vibrant workspace which will be company’s 10th co-working space in Bengaluru is spread over 30,000 square feet and is already 100% occupied with multiple clientele from sectors like IT, CRM, retail, pharmaceutical, and global consultancy among others. The company had also recently signed up a whopping 2 lakh sq ft space across multiple locations in Bangalore to expand its business and cater to rising demand of flexible space. 315Work Avenue currently manages around 10,000 seats spread over 5,00,000 sq ft office space across multiple prime locations in Bangalore. The company offers a variety of services and spaces like enterprise offices, co-working desks, private offices, meeting rooms and virtual offices to corporates, mid-size enterprises, small teams, start-ups and entrepreneurs depending on the needs of its users. Commenting on the new development, Mr. Manas Mehrotra, Chairman, 315Work Avenue said: “Bengaluru has been an extremely strong market for us to strengthen our footprint and cater to the demands of various startups, SMEs and large corporate clients. The launch of this centre will inch us closer to our target of 25,000 seats by next year. We believe there is a massive opportunity as co-working spaces are experiencing a high growth trajectory in India and we are confident that Bangalore market will continue to play an integral role in our overall growth journey. We have already achieved a phenomenal growth in a short period and our priority now is to deepen the penetration in existing markets and enter newer cities.” “With prime locations, custom crafted design & space, technology, international standards of health & safety and community building as our key drivers, we are confident that our work spaces has an edge over the others in the industry and we are committed to revolutionizing the co-working industry” added Manas. Coworking spaces have disrupted the traditional work environment today, witnessing a massive growth in the last few years. Co-working is also emerging as a leading occupier of commercial real estate and is likely to see continued growth as well. At present, large corporates and multi-national companies have jumped onto the flexible workspace bandwagon due to multiple benefits such as flexible lease terms, innovative & high end workspaces, lower deposit requirements, overall cost reduction etc. As part of its investment plan of around Rs. 100 crore announced recently, 315Work Avenue now plans to beef up its total portfolio to 1 million sq ft by 2020 with a focus on south and west India. In a bid to achieve its target of 25,000 seats by next year, the company is also looking at further expansion in Hyderabad, Pune & Mumbai while further strengthening presence in Bangalore.