by THO
Nielsen Media and its subsidiary Whats On India Media Pvt Ltd have leased a 1.52 sq ft commercial space in Commerze III, International Business Park, Oberoi Gardens, a project by Oberoi Realty, in Mumbai for a starting monthly rent of ₹3.87 crore for 10 years.
The first agreement is for an area of 39,852 sq ft located on the 35th floor in Commerz III, International Business Park, Oberoi Garden, Goregaon East, Mumbai. The agreement has been signed between Oberoi Realty and Whats On Media Pvt Ltd. The starting monthly rent is more than ₹1 crore. The rent works out to be ₹252 per sq ft. The security deposit paid is more than ₹8 crore, according to the Leave and License agreement.
Also Read: Office leasing touches 33.5 mn sq ft in the first half of the year, up by 29%: JLL
The license comes with 46 car parkings of which four will be payable at ₹5000 per car parking, the documents showed.
The second agreement was signed between Oberoi Realty and Nielsen India Media Pvt Ltd for an area of 112404 sq ft. The office space is located on the 36, 37 and 38th floors in Commerz III, International Business Park, Oberoi Garden, Goregaon East, Mumbai. The agreement was registered on July 9, the documents showed.
The starting monthly rent is ₹2.87 crore and the security deposit paid is ₹22.9 crore, the documents showed.
The monthly rent for the three floors is ₹255 per sq ft, the documents showed.
It comes with 122 free car parks. Another 11 car parks have been leased at a monthly rent of ₹5000 per car park, the document showed.
Emails have been sent to both Oberoi Realty and Nielsen India Media Pvt Ltd.
Earlier, Unity Small Finance Bank had purchased commercial properties in two separate locations in Mumbai in deals valued at around ₹400 crore, property registration documents showed.
Also Read: Unity Small Finance Bank buys commercial properties worth ₹400 crore in Mumbai
Red Fox IT Infra LLP, a subsidiary of Redbrick Offices, a co-working space provider, has purchased 22 office spaces spread over an area of 87,618 sq ft in Andheri area of Mumbai for ₹267 crore, according to property registration documents accessed by CRE Matrix.
There are three commercial buildings that are part of Oberoi Realty’s international Business Park – Commerz 1 that is a part of the hotel development and has 17 floors of offices and Commerz 2 which has 30 floors. These buildings have been leased out.
