Avanta India, which provides managed office space, has given on lease 100 desks in its centre at Connaught Place here to IIFL on rising demand for flexible workspace during the COVID-19 pandemic. Avanta India, part of the UK-based Avanta group, currently has six business centres, all in the national capital region (NCR). These centres are spread over 1.2 lakh square feet and have 2,500 seating capacity.
IIFL will occupy over 100 seats at Avanta India’s centre at Ambadeep tower, Barakhamba road, sources said. An Avanta spokesperson declined to comment on individual leasing transaction. In September 2008, Avanta started operations from Statesman House in Connaught Place as its first business centre in the national capital. Recently, property consultant Colliers India reported that the share of flexible workspace operators in total gross office space leasing rose in the July-September period to 26 per cent. It is because of high demand from occupiers looking for managed spaces and short-term leases to tide over uncertain times.
With a rise in demand for managed flexible office space, co-working operators have started to take on the lease office space from real estate developers and other property owners. Last month, Hong-Kong based The Executive Centre (TEC) announced an investment of Rs 200 crore over the next 18 months to open 8-10 new facilities across major cities.
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