Smartworks leases 5.6 lac sq ft at M-AGILE , Pune; India’s single largest flexible office space transaction

Aug 25, 2021

Smartworks leases 5.6 lac sq ft at M-AGILE , Pune; India’s single largest flexible office space transaction

This is Smartworks’ seventh office in Pune and third in Baner
• Crosses footprint of over 1 million sq ft in Pune maintaining its market leadership position

Pune/Noida- August 19, 2021: Smartworks, India’s leading managed office space provider has announced India’s largest flexible office space in Pune. In this newest addition, M-AGILE, Smartworks has leased a total of 5.6 lac sq ft, encompassing 8,500+ seats. It is already 40% pre-booked by IT/ITeS, BFSI and manufacturing clients and is scheduled to be operational in September. JLL, India’s leading real estate consultancy firm, facilitated the transaction.

The Grade A property, M-AGILE is in Pune’s prime locality known for an elite corporate neighborhood with rapid connectivity to major hotspots and well-built infrastructure. It offers unparalleled access to strategic destinations such as IT Park Hinjewadi, Balewadi High Street, Mumbai-Pune Expressway, major academic institutions, hospitals, and retail avenues. It is perfect for a balanced working lifestyle with 25% more amenities than industry standards, such as a Wi-Fi café and lounge, dining area, futsal / basketball court, crèche, auditorium, well-equipped gymnasium, yoga and workout terrace, recreational zones and nine levels of parking.

Neetish Sarda, Founder, Smartworks, said, “It has been a high growth trajectory for us in Pune in the last three years. Our growth has been driven by customer requirements for flexible office spaces that support collaboration, innovation and productivity.”

“We are excited about this new location as it’s the largest in our portfolio and the flex office space segment. As the largest managed office space provider to sector agnostic Enterprises, Global MNCs, unicorns & soonicorns, our focus is not just to offer them workspaces but a standardised and engaging office experience with value-added services and benefits in a campus-like infrastructure. Our digitally-enabled spaces provide them with a completely managed ecosystem with state-of-the-art amenities, alliances, community-building events, and networking opportunities. With clients eyeing distributed workspaces across locations to adapt to the new normal, we act as a catalyst to fulfil their growth journey ahead, he said on leasing large independent buildings.

With seven centres, Smartworks has retained the market leadership position in Pune with a total footprint of approx 1.4 Mn sq. ft. and over 25000 seats. All its matured centres have over 90% occupancy with several marquee enterprise clients.

“We are excited to have facilitated the biggest deal to date for a flexible office space in India. Flex space stock has grown in the Pune City by over four times from 0.7 million sq ft in 2017 to 3.0 million sq ft in 2021 and has always presented a huge growth opportunity. With M-AGILE being in Baner, one of Pune’s most progressive areas, we were sure that will be a milestone transaction for the industry. This location enjoys proximity to talent catchment areas, it is a convenient travel destination with excellent social infrastructure in the vicinity. Going forward, we expect the flex space market in Pune to reach ~5 million sq ft by 2022, driven by increased demand from large enterprises.” said Sanjay Bajaj, Managing Director – Pune, Logistics and Industrial, India, JLL.

Smartworks provides digitally-enabled managed office spaces which can be rapidly configured and customised in just four to six weeks according to the needs of the enterprise clients, offering a full suite of solutions at a value price point without upfront capital expenditure. With a growing footprint of over 4 million sq. ft., and 31 centres across nine cities (Delhi, Noida, Gururgram, Mumbai, Pune, Hyderabad, Bengaluru, Chennai and Kolkata), Smartworks’ flexible office solutions are catering to the evolving needs of large corporations.

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