Mckinsey leases office space of 45,000 sq ft in Mumbai

McKinsey & Company, the Management consulting firm, took 45,000 sq ft office space at Maker Maxity, a commercial project, in Bandra-Kurla Complex (BKC) in Mumbai business district at a monthly rental of Rs 410 per sq ft. Sources told the media that the overall period of the lease is five years, indicating a total rent of Rs 100 crore approximately. The American multinational has its offices in Bengaluru, Chennai, Gurgaon and Mumbai in India. At present, it operates out of its office at Nariman Point in the business district of South Mumbai in the financial capital of the country. According to the agreement, October 1 is the commencement date for the lease. However, the beginning of the rent payment is from 16 January 2022, as the consultancy firm will get the benefit of rent-free for three months and 15 days. The agreement consists of a provision for a 5% escalation of rent every year from the commencement date of the lease as against the usual rental reset every three years. As per McKinsey, its Mumbai office will soon be having an additional address that will be aligned to the changing needs of its operations in form and function. McKinsey, through its India operations, leased the space in BKC. The rented office space is spread across four floors of 1 North Avenue tower of the integrated development, which has an overall five office towers, a drive-in theatre and an under-development luxury mall. McKinsey has rented this office space from two separate firms—Neela Megha Investments & Trading Co and Golden Bay Properties. The consulting entity will pay a security deposit worth ten times the initial rent amount. The office spaces across the country are being expanded as the organisations are planning a careful return to the offices for their employees. Major companies are expanding their office spaces to accommodate social distancing rules. Image Source Also read: Smartworks rents out 5.6 lakh sq ft office space at M-AGILE Pune Also read: Prestige Group plans Rs 3,500 cr investment for office space in Mumbai