Regus set to lease 16,000 sq ft in Assotech Realty’s Noida project
NEW DELHI: Office space provider Regus is set to lease around 16,000 sq ft of space for opening a business centre in a mixed-use project of Assotech Realty in Noida.
“We have signed a term sheet with Regus, but the signing will be done only after completion certificate in another one month,” said Salil Kumar, director, Assotech Realty.
Located in Sector 135 on Noida Expressway, 1.8-million-sq-ft Assotech Business Cresterra is an integrated business park comprising 75,000 sq ft of retail spaces, around 1.6 million sq ft of office spaces and 150,000 sq of 190-key serviced suites, which will be managed by Lemon Tree Hotels.
Assotech Realty is in process of completing the first phase of the project with a total salable area of 11 lakh sq ft. The balance will be completed in the second phase.
Property consultant CBRE has been appointed for managing this commercial project. The office spaces are available in both outright sale and leasing models.
Harsh Lambah, country head for Regus India also confirmed the deal. “We are currently in talks with Assotech Realty for their prime property Assotech Business Cresterra in Noida,” he said, adding, “However, we will not be to share any more information on this as this is still in discussion.”
Regus very recently announced its new 4,000-sq feet drop-in business centre Regus Express at Mumbai’s T2, the company’s only 6th such centre across the globe at an airport terminal. In the last one year the company has also doubled the number of Regus business centres in India, taking the tally to 90.
“India is an extremely important market. The demand for office spaces has been growing exponentially and with the ecommerce and start-up boom, we believe the potential for growth is tremendous,” Lambah said.
This is the third such commercial project for Assotech Realty after Tradex Tower I & II in Sector Alpha I, Greater Noida.
“Commercial has become the prime focus for the company. We decide on projects based on research and results say this is a good time to invest in commercial assets,” said Kumar of Assotech Realty.