Godrej & Boyce Sells 58,500 sq ft Office Space in Vikhroli to Godrej Industries for INR 157 Crore

Significant Commercial Real Estate Deal in Mumbai's Vikhroli Suburb

 Godrej & Boyce Manufacturing Company has sold a substantial office space spanning nearly 58,500 sq ft across two floors in the commercial complex Godrej One, located in Vikhroli, Mumbai, to Godrej Industries for ₹157 crore. This transaction highlights a notable real estate move within the Godrej Group.

Premium Office Space and Exclusive Amenities

 The office space is located on the 8th and 9th floors of the North wing of the commercial tower. As part of the deal, Godrej Industries will gain exclusive access to 75 car parking slots in the building. The buyer has paid a stamp duty of ₹9.42 crore for the registration of this transaction.

Lease Transfer to Managed Workspace Provider

The office space on the 9th floor is currently leased to Simpliwork Offices, a managed flexible workspace provider, for a term of 60 months until March 31, 2026. This lease agreement will be transferred to Godrej Industries, making them the new landlord, as per the documents accessed through Propstack. Strategic Location and Modern Infrastructure The property is situated in the North tower of the commercial building, which includes two levels of basements, a ground floor, and 11 upper floors. The transaction is significant, especially in the context of the recent shareholding realignment within the Godrej family, announced on April 30.

Independent Transaction Between Godrej Entities

Despite the timing, both Godrej Enterprises Group and Godrej Industries Group have clarified that this property transaction is independent of the recent shareholding realignment within the group. It is purely a transaction between two corporate entities. New Leadership Structure in Godrej Group Following the shareholding realignment, Jamshyd Godrej, along with his niece Nyrika Holkar and their families, will oversee the Godrej Enterprises Group, which includes Godrej & Boyce and its affiliates spanning various industries.

Meanwhile, Nadir Godrej will serve as the chairperson for the Godrej Industries Group, which comprises Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec Lifesciences.

Conclusion

This transaction underscores the strategic maneuvers within the Godrej Group to optimize their real estate assets. The acquisition by Godrej Industries not only consolidates their presence in a prime commercial hub but also leverages the synergy within the group. The lease transfer to Simpliwork Offices reflects the growing demand for flexible workspaces, aligning with modern corporate real estate trends. The clarified independence of this deal from the recent shareholding realignment demonstrates a deliberate and well-planned approach to corporate governance and asset management.