315Work Avenue signs huge coworking deal with BNY Mellon

315Work Avenue now has five centres spread across 0.5 mn sq ft in Pune with leading developers like Ascendas, Panchshil and Raheja, totalling around 10000 seats and aims to double its presence in the city in the next 12 months.

The expansion comes at a time when companies see merit in setting up offices across multiple locations to enable a distributed workspace model. Overall, 315Work Avenue currently manages 2 mn sq ft space totalling around 40,000 seats across multiple prime locations in Bengaluru, Chennai, Mumbai and Pune.

Commenting on the development, Manas Mehrotra, Founder, 315Work Avenue said, “This deal marks another milestone in the company’s expansion plans, solidifying its presence in key business hubs. 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 work experience of employees”.

Commenting on the association, Mr. Sanjay Bajaj, Senior Managing Director – Pune and Executive Oversight – Logistics and Industrial India, JLL said, “This transaction reflects the increasing importance and popularity of managed office solutions in today’s hybrid working environment, particularly for large enterprise occupiers across sectors. Pune has reached a high level of market maturity for managed office space, with over 56,000 seats transacted in the last 30 months, accounting for a 19.9 per cent market share and an additional 12,000+ of seats in the pipeline for future build-out”.