Quest Coworks has bought five office units totalling 57,000 sq ft in the Andheri neighbourhood of Mumbai from Capgemini Technology in a deal worth Rs 558 million (mn). The transaction adds to Quest Coworks' footprint in Mumbai's commercial real estate market and is part of its expansion strategy in key metropolitan centres. The units were acquired as a single asset package.

The purchase price reflects a market valuation achieved through direct acquisition rather than lease arrangements and will enable the coworking operator to consolidate operations and service offerings in the western suburbs. Industry observers say there is growing demand for flexible office space in established business districts, driven by corporate downsizing and hybrid working models.

Quest Coworks plans to refurbish and integrate the floor plates to provide a mix of private offices, meeting rooms and hot desks tailored to small and medium enterprises and satellite teams of larger corporates. The company is expected to leverage existing property management capabilities to enhance occupancy and yield, while maintaining operational flexibility for clients. Work on upgrades is likely to be phased to minimise disruption for existing occupants.

The acquisition from Capgemini Technology underscores a wider trend of large occupiers monetising non-core real estate to unlock capital and focus on core technology services. Market participants say such transactions support liquidity in the office investment market and offer opportunities for specialised operators to expand their portfolios.

Local brokers involved in similar deals have highlighted Andheri's connectivity to transport nodes and amenity density as factors that sustain tenant interest. Analysts anticipate that demand for well located, flexible workplaces will remain steady as businesses seek cost effective solutions for post pandemic occupancy strategies.