In a testament to the continued demand for coworking spaces, 315Work Avenue, a new age coworking space provider has leased 400 seats in Bangalore to a leading technology and service provider for the financial services industry. This office space is located at 315Work Avenue, Indiranagar, which is a prominent business hub in East Bangalore. This workspace which is in one of the 40 locations of 315Work Avenue across India has state-of-the art infrastructure and is customized to meet multiple requirements of the client.
315Work Avenue, known for its technology-driven hubs, customised workflow and a productive work ambience, manages around 40,000 seats across multiple prime locations in Bengaluru, Mumbai and Pune. The company currently manages 1.75 million sq ft space and aims to add another 2 million sq ft this financial year.
Commenting on the same, Manas Mehrotra, Founder, 315Work Avenue said: “Flexible spaces are becoming mainstream now. The demand for co-workspaces is constantly increasing not only because such spaces perfectly fit the new normal, but they also help companies save costs, boost productivity and enhance work experience of employees. These advantages have lent great value to the coworking industry over traditional offices and it is expected to witness a new peak in terms of gross absorption in the near future. Moreover, companies want to remain agile and quickly adapt to market conditions and our plans offer them the opportunity to do so with ease. The advantage of capital-light model provided by coworking industry is proving to be the perfect solution for companies.”
According to a recent report, the flexible space stock in India is expected to cross 80 million sq ft by 2025. With opportunities becoming more abundant, the segment will become more lucrative for growth. As per another report, during the 15-month period from January 2022-March 2023, 67 per cent of the seats was for enterprise solutions or managed office space. This signifies that enterprises are looking for more flex spaces with focus on end-to-end amenities and workplace management. The rapidly increasing trends to re-strategize the workspaces indicates a brighter future for this new age asset class.
