BHIVE Workspace announced the expansion of its coworking portfolio with the addition of Garuda BHIVE Workspace in BTM Layout, Bengaluru as it looks to cater to the growing demand for flexible office spaces in the city. Spread across over 2 lakh square feet and located in the heart of the city, the coworking space will offer over 5,000 seats and a multitude of retail offerings including sports zones, food and beverage along with a built-in resto bar and lounge, Stone Street by BHIVE, a first initiative in the coworking space in India.
Launched recently, the coworking space already counts startups in the healthcare tech, digital banking, insurance and apparel industries as its occupiers and is rapidly acquiring new clients. The coworking space is being widely adopted by occupiers with only 30% seats left. It was launched with much fanfare with a grand launch event that hosted India’s biggest rockstars, including Mohit Chauhan and had a massive footfall of over 4,000 people. Apart from a state-of-the-art meeting and conference rooms, it also offers over 140 four-wheeler parking slots.
The coworking property, developed in collaboration with the Garuda Group, is in line with BHIVE’s vision to create a workplace which suits the evolving requirements of members from its core. It offers coworking space through inclusion of larger offerings in retail, F&B and entertainment. As companies switch to the hybrid mode of work, it becomes essential to make the office space exciting again in order to encourage more employees to operate out of the office and promote collaboration. These innovations by BHIVE will play an important role in revitalising the office space and help occupiers attract and retain talent. This assumes significance as the market size of coworking spaces would double in the coming 5 years at a CAGR of 15%, according to a CII-Anarock report ‘Workplaces of the Future’.
Commenting on the launch, Shesh Paplikar, Co-founder and CEO of BHIVE Workspace said, “2023 is going to be a landmark year in the coworking industry as it is expected to witness massive expansion in its portfolio and a transformation in its offerings. As an organisation with a fine understanding of our clients’ requirements, we are at the forefront of breaking the status quo and developing innovative concepts to include food and beverage, sports arenas and entertainment options among the many, marking a departure from our initial days of pure play coworking space providers. Today, we are emerging as an end-to-end office experience provider and are delighted to announce the addition of one of India’s largest coworking facilities in BTM Layout in Bengaluru, which will elevate the office experience of our occupiers. We have incorporated several new elements in this facility by bringing a premium F&B experience and providing a touch of luxury”.
With the addition of this facility, the total coworking portfolio of BHIVE today stands at 1.4 million square feet with a total 40000 seats across Bengaluru, the startup capital of India. Earlier in January this year, BHIVE launched the world's largest coworking space in the city, a state-of-the-art facility spread across 3 lakh square feet with over 8,000 seats and all the amenities to suit the evolving needs and nature of work of our members, marking a new chapter in India’s coworking industry.
