Guardians Real Estate Advisory buys 7,500 sq-ft office in ONE BKC for Rs 30 crore
Plans to make it its head office
Real estate non-broking consultancy firm The Guardians Real Estate Advisory has bought a 7,500 sq-ft office at ONE BKC, a prime commercial building at Bandra-Kurla Complex in Mumbai, for Rs 30 crore.
The deal culminated at a price of Rs 40,000 per sq-ft. The office has been purchased in Tower C of the building and it plans to turn it into their head office. The firm is currently based out of another marquee project in BKC called The Capital from where it plans to shift out in the month of September.
The purchase has been made to reduce the recurring cost of the lease and comes at the back of the firm announcing record sales of Rs 318 crore on Akshaya Tritiya, during the lockdown, the company said in a statement.
The firm plans to close the purchase with internal funds and has already made a substantially large down payment.
“Around 70% of the payment for the property has been made and we plan to shift during the auspicious days of Navratri this year,” said Kaushal Agarwal, chairman, The Guardians Real Estate Advisory.
“The response at our mandated projects post the lockdown gave us the confidence to proceed with the purchase,” he said.
ONE BKC is among the most sought-after commercial projects in BKC. The building has noteworthy clients like Bank of America, Facebook, Merril Lynch, Cisco, Amazon and also Brett Lee’s F45 Gymnasium and Fitness Studio.
Recently, Canadian investment fund Brookfield Asset Management won the bid to acquire two floors of office space in Mumbai's business district of BKC from the grounded Jet Airways recently for Rs 490 crore, a price which is roughly 25% lower than the market price.