Barclays leases office space for 5 years at ₹2.08 crore per month in Mumbai

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Barclays has leased 64,995 sq. ft. in a building known as Altimus in Worli, Mumbai, for five years at a starting monthly rent of 2.08 crore, documents accessed by FloorTap.com showed.

Barclays has leased 64,995 sq. ft. in a building known as Altimus in Worli, Mumbai, for five years at a starting monthly rent of <span class=
Barclays has leased 64,995 sq. ft. in a building known as Altimus in Worli, Mumbai, for five years at a starting monthly rent of 2.08 crore.

Barclays has paid a security deposit of 12.48 crore for the deal, the document showed.

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The Barclays Bank has leased one-and-a-half floors and an outdoor unit (31,32 and 33rd floors) and Barclays Investments & Loans (India) Private Limited has leased 5,558 sq ft on the 33rd floor. These floors have been leased from Whispering Heights Real Estate Pvt Ltd, a 50-50 JV between K Raheja Group and Reco Solis Private Limited (a 100% step-down subsidiary of GIC Reality Private Limited which is owned by Government of Singapore). K Raheja Group has constructed this 42-storey building, a new age CBD asset class in Worli.

The commercial units with Barclays Bank come with 47 car parkings and those with Barclays Investments & Loans (India) Private Limited four car parkings, the document showed.

The lease deeds were registered on January 24, 2024.

The rent works out to be 320 per sq ft on the chargeable area that totals to 2.08 crore. It will increase by 4.5% every year. The lease of the floors commences from January 1, 2024, the document showed. The lease will expire on December 31, 2028.

The maintenance charges towards the common area of the building will be at the rate of 25 per sq ft on the chargeable area of the premises per month amounting to 16.25 lakh, the document showed.

The company can increase the lease term for another five years, the documents showed.

Also Read: Share of green office leasing touches 16% in 2022-2023; Global Capability Centres account for 76% of overall leases

The building has been constructed as per LEED standards for a platinum rating and post completion the lessor will obtain IGBC platinum certification and the lessee shall obtain green energy from the power generation company, the document showed.

Also Read: Air India leases 6.2 lakh sq ft commercial real estate space in Gurgaon at an annual rent of 90 crore for 21 years

Sources said that Morgan Stanley and ANZ Bank have already taken up space in the building.

K Raheja Group and Barclays Bank did not comment.

Last year, Netflix had renewed its lease for a commercial space in Godrej BKC for five years at a monthly rent of around 5 crore.

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