A co-working space provider, 315Work Avenue has signed up 700-seats with two companies spread over 37,000 sq ft in Koramangala and HSR layout.
One of these companies is a New York-based American advertising company and the other is a global manufacturing company with world-wide presence in 15 countries. With these two agreements, the company has signed around 5,000 seats over the last six months.
315Work Avenue currently manages around 20,000 seats spread over 1 million sq ft office space across 20 centres located in prime business hubs in Bangalore, Mumbai and Pune. The company also plans to add another 5 lakh sq ft office space over a period of six months.
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.
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Commenting on the new development, Manas Mehrotra, Founder, 315Work Avenue said, “In recent times, we have seen an increased demand from all businesses, especially leading enterprises and corporates who have recognised the inherent value offered by the flexible workspace model.”
Mehrotra said, “The pandemic has highlighted the importance of de-densification of office space and adoption of hub and spoke model. Hence there has been a surge in flexible space options and increased focus on hybrid working models by large enterprises and multinationals.”
Mehrotra added that companies are re-assessing their existing conventional office spaces, fixed asset investments, long term leases etc. and are opting for flexibility and a superior tech-enabled office experience that is smart and safe.
The co-working company expects a pick-up in demand for well-located, high-quality, and efficient flexible workspaces, resulting in them occupying a greater portion of the total commercial office portfolio in India. It is now focused on deepening the penetration in existing markets as well as entering newer regions.