315Work Avenue signs deal for 700-seat workspace in Bengaluru

315Work Avenue, a co-working space provider, has signed a 700-seat workplace deal with two companies. The space is spread over 37,000 sq ft in Bengaluru's Koramangala and HSR Layout. While one company is a New York-based American ad agency, the other is a global manufacturing company operating in 15 countries.

315Work has signed around 5,000 seats in over the last six months of 2021. In total, it manages about 20,000 seats spread over 1 million sq ft office space across 20 centres in Bengaluru, Mumbai and Pune. It also plans to add another 5 lakh sq ft office space over the next six months.

The company said the widespread business disruptions caused by the pandemic had driven a shift in strategy for many organisations. The demand outlook is strong despite the second Covid-19 wave, and the growth indicates an improvement in economic sentiment.

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As per a recent report by the company, leasing of flexible workspace rose 73 per cent during the January-June period on a year-on-year basis, signalling the demand for co-working spaces in the current scenario.

Co-working companies have seen a massive spike in the number of inquiries recently. The company expects to obtain well-located, high-quality, and efficient flexible workspaces, resulting in a greater portion of India's total commercial office portfolio.

"In recent times, we have seen an increased demand from all businesses, especially leading enterprises and corporates who recognised the inherent value offered by the flexible workspace model. The pandemic has highlighted the importance of de-densification of office space and adoption of hub and spoke model," said Manas Mehrotra, Founder, 315Work Avenue.

The company offers a variety of services and spaces like enterprise offices, co-working desks, private offices, meeting rooms, as well as virtual offices, mid-size enterprises, small teams, start-ups, and entrepreneurs depending on the needs of its users.

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