Barclays Bank PLC and Barclays Investments & Loans (India) Private Limited have separately leased office space measuring 64,995 sqft in the Worli area of Mumbai for a monthly rent of Rs 2.07 crore. The office space is situated at Raheja Altmius, where the per sqft rent for the deal is Rs 320, according to registration documents accessed by FloorTap.com.
The commercial units are located on the higher floors of the building, and the security deposit is Rs 12.47 crore. The lessor is Whispering Heights Real Estate Pvt Ltd, a subsidiary of MindSpace Business Parks.
The two transactions were registered on January 24 and January 25, with the rent commencement date set for July 1, 2024. The lease agreements span five years, with an additional five years of the renewal term. There is a lock-in period of two years, and the rent escalation is 4.5 percent per annum, as per the documents.
The office units include 51 parking spaces, and the monthly rent per sqft amounts to Rs 320.
The building named Raheja Altimius is a commercial building constructed across a land area of 3.10 acres and has a total leasable area of 1.12 million sqft.
The building has in the recent past seen several corporates moving into the building. In one of the other notable deals, in October 2022, Morgan Standley rented 86,200 sqft of space for Rs 325 per sqft rental followed by other companies like wealth advisors, capital business, etc.
Also read: Mumbai real estate: Amitabh Bachchan rents out commercial space for annual rental of Rs 2.07 cr
Meanwhile, a query has been sent to Whispering Heights Real Estate Pvt Ltd and Barclays. The story will be updated upon receiving their response.
(Please note: The story was updated with the image in the story)
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
