Table Space has announced the acquisition of Kalyani Camellia, Whitefield (Mahadevpura), Bengaluru, for Rs 500 crore. The owned asset covering ~550,000 sq-ft will be housed under its sub-brand ‘Table Space Towers’ (TST) portfolio.
The Table Space Towers, Whitefield is a nine-story Grade A and LEED Gold-certified strategically planned asset. Designed with a central core and a built-in commitment to sustainability and energy efficiency. Table Space Towers, Whitefield, offers ample space for businesses to thrive. Its strategic location offers access to 2 key micro-markets, Whitefield and Outer Ring Road (ORR), with the added advantage of proximity to the metro, enhancing connectivity for tenants and employees.
The first acquisition made under the Table Space Towers portfolio was of Panchshil Towers in Kharadi, Pune – a large campus spanning over 900,000 sq-ft. The shift from leasing to an owning model reflects Table Space’s commitment to adapt to the changing dynamics of commercial real estate. With owned assets, Table Space Towers (TST) aims to provide high-quality, end-to-end solutions with a focus on controlling an elevated client experience which is possible only in an owned asset model.
Amit Banerji, CEO & chairman of Table Space, said, “This acquisition for Table Space Towers in Whitefield underscores our unwavering commitment to creating world-class workspaces. By continually innovating and launching client-first solutions, we ensure an elevated and unparalleled work experience. This expansion cements our leadership and reinforces our brand strength in the enterprise workspace category. In the next 12-18 months, as part of our ambitious growth strategy, we plan to expand the Table Space Towers portfolio by adding another 5 million square feet.”
Kunal Mehra, president of Table Space, adds, “Bengaluru is our most mature and vital market, contributing 46% to overall revenue. The city is poised to remain our largest growth area. Table Space Towers elevates our portfolio of world-class, enterprise-first workspaces by placing unparalleled client experience at the core of our solution, setting a new benchmark in the enterprise workspace category.”
Speaking about the importance of experience in the category, Gaurav Singh, president of Table Space shared, “At Table Space, our mission is to deliver an unmatched client experience across all our workspaces. We achieve this through consistent excellence in design, product quality, amenities, and every touchpoint that our clients interact with at our workspaces. With the launch of Table Space Towers, we are set to revolutionize the enterprise workspace category and position the brand as the most preferred choice for world-class workspaces.”
According to a recent joint report by Table Space and Cushman & Wakefield, the total Grade A footprint of the flex space operators across India’s top-8 cities stands at 58 MSF as of H1 2024, and the Bengaluru office market leads this flex space inventory with 31%. The Outer Ring Road micro-market, which includes Whitefield, leads the way in average lease rentals at Rs 91 sq-ft per month.
