Comments
Streaming services provider Netflix has taken on a five-year lease for around 1.4 lakh square feet of space in Mumbai’s Bandra Kurla Complex at a monthly rent of ₹312.69 per square feet.
It has taken space on the 11th and 12th floors of Godrej BKC building. The landlord is D’Decor Properties.
Under the terms of the agreement Netflix will be running business support services from the premises. The documents were made available by FloorTap.com.
Colliers, the transaction advisor, did not comment on the deal.
According to the contract, Netflix has an initial lock-in of 36 months from the commencement date while D’Decor is locked-in for the entire duration of the lease. The monthly rent outgo comes to ₹2.15 crore. The rate will rise 5 per cent annually.
A security deposit of ₹13.5 crore has been paid by Netflix.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.