Co-working firm 315 Work Avenue in expansion mode
Co-working space provider, 315 Work Avenue (formerly known as IncubexNestaVera), has signed up a whopping 1.25 lakh sqft space in the Bangalore across 2 CBD locations to expand its business and cater to rising demand of flexible space. The deal, one of the largest in co working space leasing, is part of company’s plans to beef up its total portfolio to 1 million sqft in the next 1 year with a focus on south and west India. As part of its investment plan of around Rs. 100 crore announced recently, 315 Work Avenue aims to bolster its network across Bangalore and expand to other cities such as Hyderabad, Pune & Mumbai.
315 Work Avenue currently manages around 3 lakh sqft office spaces spread across multiple prime locations in Bangalore. Presently, the company has around 6000 seats and aims to touch around 25,000 seats in this financial year.
“We believe as a relatively young venture, we have achieved a phenomenal growth in the short period and quickly became home to several leading entrepreneurs, a launch pad for startups and a work hub for millennials in large enterprises. 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 ManasMehrotra, Chairman, 315 Work Avenue.