315Work Avenue expands in Pune, touches 100K sq ft office space at ITPP

Bengaluru-based shared space provider 315Work Avenue has leased an additional 56,000 square feet of office space at International Tech Park Pune (ITPP), Kharadi, bringing its total portfolio to 1 lakh square feet. The coworking company had earlier leased 44,000 square feet at ITPP.

315Work Avenue now has six centres spread across 0.6 million square feet in Pune with leading realtors like Ascendas, Panchshil, and Raheja, totalling around 12,000 seats and aims to expand significantly in the near future.

ITPP, located near the Pune Lohegaon International Airport, is home to premier companies. It is a Grade-A office space spread across a 2.5 million square feet tech park, developed by Ascendas-Singbridge.

 

315Work Avenue manages a portfolio of approximately 2.5 million square feet, offering around 50,000 seats across prime locations in Bengaluru, Chennai, Mumbai, and Pune. The company plans to expand its geographical footprint into Delhi-NCR and Hyderabad, while further strengthening its presence in existing markets.

“Pune’s coworking market has seen significant growth during the last few years, led by a burgeoning young population, the presence of large tech corporates, and the proliferation of numerous startups. We are confident that the Pune market will continue to play an integral role in our overall growth journey. With increasing demand for offices in the city, we are poised to offer premium workspaces that are both adaptable and accessible,” said Manas Mehrotra, founder, 315Work Avenue.

“Amid the contraction of the conventional office real estate market, the coworking sector has emerged as a comfortable alternative and is the preferred office space for businesses across industries. Our recent expansions, including significant leases in multiple geographies, highlight our dedication to meeting the rising demand for flexible workspaces across the country,” Mehrotra added.

According to a recent Colliers report, the Indian office market is transforming, with more than 80 per cent of occupiers, particularly multinational companies, planning to expand through flexible workspaces over the next three to five years.

Another report by Cushman and Wakefield highlights that flex space inventory across the top 8 cities is led by Bengaluru with 31 per cent of the total stock, followed by Delhi-NCR (16 per cent), Pune (14 per cent), Hyderabad (14 per cent), and Mumbai (11 per cent).