Table Space acquires office space in Bengaluru for Rs 5 Bn

19 Sep 2024 CW Team

Table Space, a provider of flexible workspaces for corporates, has acquired 500,000 sq ft of office space in Bengaluru for approximately Rs 5 billion to expand its operations. Sources revealed that the office space is located in Whitefield, Bengaluru, and that the real estate consultant CBRE facilitated the deal.

The President of Table Space, Kunal Mehra, confirmed the transaction but did not disclose the deal value. He stated that the company has acquired the Kalyani Camellia property in Whitefield (Mahadevapura), Bengaluru, adding that this is the second asset owned by Table Space in its portfolio. The first acquisition was the Panchshil Towers in Kharadi, Pune, which spans over 900,000 sq ft.

Mehra noted that Bengaluru is Table Space’s most mature and crucial market, contributing 46% to the company's overall revenue and expected to remain its largest growth area. He highlighted that Table Space is among the leading providers of enterprise workspace solutions in the country, specialising in enterprise-managed workspaces.

Founded in 2017, Table Space has developed over 9.5 million sq ft of custom workspaces, with more than 60 centres across seven cities in India. The company adopts a solution-based approach to meet clients' workspace needs, offering a range of services from ready-to-move-in premium workspaces to fully customised end-to-end managed office solutions, as well as future-first Enterprise Workspace as a Service (WaaS).

Following the COVID-19 pandemic, demand for flexible workspaces has surged. Corporates are increasingly leasing space from flexible providers to reduce capital expenditure and alleviate the challenges of managing office space. The shift to hybrid working models is also a significant factor contributing to growth in this sector.

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