In continuation of the high demand for coworking spaces, 315Work Avenue, a new-age coworking space provider has leased around 40,000 sq ft to Webasto Group at CapitaLand IT Park, Kharadi, Pune, which is home to premier companies. This workspace which is the third location of 315Work Avenue in Pune will have a contemporary infrastructure and is customized to meet multiple requirements of the client.
The Webasto Group, founded in 1901 is a global innovative systems partner to the mobility industry and one of the 100 largest suppliers to the automotive sector worldwide. The company's offering includes in-house developed roofs, heating, and cooling systems for various types of vehicles, batteries and charging solutions for hybrid and electric vehicles, and additional services related to thermal management and electromobility. In 2021, the Group generated sales of 3.7 billion euros and employed around 15,700 people at over 50 locations. The headquarters of the company is located in Stockdorf near Munich (Germany).
315Work Avenue, known for its technology-driven hubs, customised workflow and productive work ambiance, manages about 30,000 seats across multiple prime locations in Bengaluru, Mumbai, and Pune. The leasing is part of 315Work Avenue’s plan to double its portfolio from the current 1.5 mn sq ft to about 3 mn sq ft by the end of this financial year.
Commenting on the same, Manas Mehrotra, Founder, 315Work Avenue said: “We are excited to partner with Webasto and look forward to a productive time ahead. The demand for coworking office spaces has been robust in recent times and large enterprises are signing up for flexible spaces in the hybrid context. The young workforce brigade too are more inclined towards flexible and hybrid working setups which have skyrocketed post-pandemic. The demand has also been fuelled by the adoption of the hub and spoke model across industries to diversify risk and make capex more efficient which would enable companies to scale up. We are also aware that clients expect customized solutions in keeping with the requirements of the workforce and we continue to deliver the best. We believe the flexible space sector will pave the way for innovative, new age real estate solutions and supplement economic growth that will favour businesses across segments.”
Commenting on the association, Vikas Prasad, President & Managing Director, Webasto said “We are happy to partner with 315Work Avenue for our new R&D Tech center with whole new infrastructure, coupled with IT enabled services that meet our requirements. We are sure that 315Work Avenue will live up to its high standards and set high precedents. This will only strengthen our relationship in the time ahead.”
Commenting on the transaction, Sumeet Bhatia, Managing Director - Pune, Cushman & Wakefield said: “The trend of using flexible spaces in commercial real estate portfolios is witnessing unprecedented growth and is likely to become more prominent in the coming future. Organisations across industries are including flexible workspace strategies into their existing real estate holdings and are revaluating workspace priorities in the last few years with increasing focus on issues of employee safety and stability. Keeping in view the client's business objectives, requirements of their workforce, infrastructural needs, and overall customization, 315Work Avenue offered the best solution in keeping with flexible requirements.” According to a recent report, the flexible space stock in India is expected to cross 80 mn sq ft by 2025.
