315Work Avenue, a coworking space provider, has leased 400 seats in Bangalore to a technology and service provider for the financial services industry. This office space is at 315Work Avenue at Indiranagar, a prominent business hub in East Bangalore.
This workspace is in one of the 40 locations across India where 315Work Avenue offers state-of-the-art infrastructure and is customised to meet multiple requirements of the client.
315Work Avenue, known for its technology-driven hubs, customised workflow and productive work ambience, manages around 40,000 seats across multiple prime locations in Bengaluru, Mumbai and Pune. The company currently manages 1.75 million square feet of space and aims to add another 2 million square feet this financial year.
Manas Mehrotra, founder of 315Work Avenue, noted that flexible spaces are becoming mainstream now. The demand for co-workspaces is constantly increasing not only because such spaces perfectly fit the new normal, but they also help companies save costs, boost productivity and enhance employees’ work experience. These advantages have lent great value to the coworking industry over traditional offices. It is expected to witness a new peak in gross absorption soon.
“Moreover, companies want to remain agile and quickly adapt to market conditions and our plans offer them the opportunity to do so easily. The advantage of the capital-light model provided by the coworking industry is proving to be the perfect solution for companies,” he added.
According to a recent report, the flexible space stock in India is expected to cross 80 million square feet by 2025. The segment will grow more lucrative, with opportunities becoming more abundant. As per another report, during the 15 months from January 2022-March 2023, 67 per cent of the seats was for enterprise solutions or managed office space.
This signifies that enterprises seek more flex spaces focusing on end-to-end amenities and workplace management. The rapidly increasing trends to re-strategise the workspaces indicate a brighter future for this new-age asset class.
