Coworking Firm 315Work Leases Five Floors in Kalyani Nagar, Pune

315Work Avenue has signed a five-year lease for five floors and 162,000 square feet of office space in the Kalyani Nagar neighbourhood of the commercial project Raheja Woods in Pune.

The company has recently leased an additional 33,000 square feet of office space, bringing its total office space in the tower to nearly 200,000 square feet.

Through its subsidiary, 315 Work Avenue Pune Spaces, the company has leased the space from the property owner, MK Profinlease, for a monthly rent of approximately 1.3 crore rupees.

The lease contains a clause that raises the rent by 5% annually. The agreement also includes a 14-month lock-in period for licensee 315 Work Avenue, according to documents obtained via FloorTap.com.

He added that the co-working company has five centres totaling 500,000 square feet in Pune and plans to double its presence in the city within the next 12 months.

315Work Avenue currently manages approximately 40,000 seats across multiple prominent locations in Bengaluru, Chennai, Mumbai, and Pune that comprise 2 million square feet.

315 Work Avenue has deposited?4 billion for the registration of the most recent transaction, which occurred on August 18. According to the agreement, the provider of managed office space will receive free rent through the end of October.

The lease grants 315Work Avenue Pune Spaces exclusive access to parking spaces in the tower for 230 two-wheel-drive vehicles and 115 automobiles.