315Work Avenue leases over 70,000 sq ft of co-working space in Bengaluru to Teamlease

Flexible office provider 315Work Avenue has leased 1,400 seats spread across an area of 70,000 sq ft in Bengaluru to Teamlease, which provides human resources and staffing services.

The office space is located at Koramangala, a prominent business hub in south-eastern Bengaluru experiencing explosive commercial growth.

"We have witnessed a robust growth in this calendar year 2022 and have signed up around 10,000 seats already and going forward, we remain optimistic about the high growth of co-working spaces," said Manas Mehrotra, founder, 315Work Avenue.

Co-working spaces in Bengaluru

A CII-ANAROCK survey has found that nearly 46 percent of the respondents voted in favour of shared spaces and 30 percent opted for the hub-and-spoke model, which means that nearly 76 percent of employees are in favour of the co-working model now.

The co-working industry is expected to double over the next five years at a compound annual growth rate (Compound Annual Growth Rate) of 15 percent.

As per reports, the increased demand from large enterprises will help the industry grow to more than 60 million square feet by 2023, signalling the consistent demand for co-working spaces in the current scenario.

Ramani Dathi, CFO, TeamLease Services Limited, said that the nature of the workspace has evolved in recent times. Companies are looking for flexible and convenient workplaces in a contemporary, tech-enabled and safe environment. "The one-stop solution to all our workspace requirements ensures that our employee experience is hassle-free and seamless," she said.