Chennai: Co-working space provider, 315 Work Avenue (formerly known as Incubex NestaVera), has announced that it has signed up a 1.25 lakh sq ft space in the Bangaluru across 2 CBD locations to expand its business and cater to rising demand of flexible space.
The deal is part of company’s plans to beef up its total portfolio to one million sq ft in the next year with a focus on south and west India, said the firm.
As part of its investment plan of around Rs 100 crore announced recently, 315 Work Avenue aims to bolster its network across Bangaluru and expand to other cities such as Hyderabad, Pune and Mumbai.
315 Work Avenue currently manages around three lakh sq ft office spaces spread across multiple locations in Bangaluru. Presently, the company has around 6,000 seats and aims to touch around 25,000 seats in this financial year.
“Our priority now is to deepen the penetration in existing markets and enter newer cities. The additional capital will aid us in expanding our footprint. We also plan to expand to tier-II cities in the near future. We look to establish ourselves as a key player in the Indian shared workspace market,” said chairman, 315 Work Avenue, Manas Mehrotra.