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Table Space Technologies has leased over one lakh square feet in the Cafe Coffee Day Square Property in Bengaluru as its erstwhile corporate headquarter and flagship store. The lease term is 60 months with a lock-in period and commands a rental of Rs 175 per square foot.
Table Space Technologies has leased over one lakh square feet in the Cafe Coffee Day Square Property in Bengaluru as its erstwhile corporate headquarter and flagship store. The lease term is 60 months with a lock-in period and commands a rental of Rs 175 per square foot.
The cumulative rental payout for the transaction is over Rs 333 crore through the total term. The agreement includes a provision that grants Table Space an option to lease an additional 1.97 lakh sq ft of office space, thereby expanding the total deal size to nearly 3.30 lakh sq ft.
Table Space Technologies, a managed workspace operator, plans to invest Rs 1,000 crore in the next fiscal year to expand its operations by around 4.5 million sq ft. The company recently raised over $325 million from Hill House Capital to expand its operations across key office property markets in India.
During 2022-23, the company expanded its portfolio by 3.2 million sq ft, investing Rs 800 crore. “With the expansion, we expect to take the revenue in FY23-24 to Rs 1,800 crore from Rs1,140 crore in 2022-23,” said Banerji.