315Work Avenue leases around 25,000 sq ft to Urban Company in Bangalore

315Work Avenue, a coworking space provider has leased around 25,000 sq ft, in Bangalore to Urban Company, a home services firm.

This newly leased workspace is located at Krimson Square, Hosur Road, HSR Layout, Bangalore and is home to multiple renowned companies. This new office of Urban Company is expected to house more than 500 employees and has a lease tenure of 60 months.

Manas Mehrotra, Founder, 315Work Avenue said: “The world of commercial real estate is witnessing a sea change as coworking spaces have become an increasingly popular choice for businesses of all sizes. While we see large enterprises vying for coworking spaces, the younger workforce too is choosing to be part of the new age office spaces.”

Founded in 2014, Urban Company is Asia’s largest technology marketplace for home services such as beauty and spa at home, cleaning, plumbing, carpentry and painting amongst others.

It operates in over 50 cities in India, the UAE, Singapore and The Kingdom of Saudi Arabia. It has a partner network of over 42,000 service professionals.

Gaurav Bajetha, VP – Global Workplace, Administration & Risk Management, Urban Company said “The work culture has undergone a profound change. We are happy to associate with 315Work Avenue for our new workspace with entirely new modern infrastructure, coupled with IT-enabled services that meets new age requirements to transform our employee experience. We are now more focused on investing in employee well-being and finding sustainable ways to conduct our business”.

315Work Avenue, manages around 35,000 seats across multiple prime locations in Bengaluru, Mumbai and Pune. The company currently manages 1.75 million sq ft space and aims to add another 2 million sq ft by the next financial year.According to a recent report, the flexible space stock in India is expected to cross 80 million sq ft by 2025. With opportunities becoming more abundant, the segment will become more lucrative for growth.