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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.
Experts say the office supply completions across the top seven cities in India will touch 165 million square feet between 2023 and 2025 while Bengaluru will lead the supply with 29 percent of the total share in India.
WeWork India, Smartworks, Awfis, Table Space and IndiQube - which contribute more than half of the domestic flexible workspace industry - are also looking to add 12 million sq ft in the next financial year even as SoftBank Group-backed startup WeWork filed for US bankruptcy protection earlier this month.
WeWork India has signed lease agreements for two new buildings -- Manyata Redwood in Bengaluru, and RMZ Spire in Hyderabad -- to open two new centres in the next few months.
Goldman held around 70% in the company that owns and operates third-party purpose-built, on-campus student housing assets across key universities including Manipal University, OP Jindal Global University and Shoolini University.