Table Space Secures 5 Lakh Sq Ft Bengaluru Office for Rs 500 Cr Expansion

Table Space, a provider of flexible workspaces for corporates, has acquired 5 lakh sq ft of office space in Bengaluru for approximately Rs 500 crore. This acquisition aims to expand its business footprint. According to sources, the company secured this space in Whitefield, Bengaluru, with the assistance of real estate consultant CBRE.

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CBRE facilitated the transaction, but declined to comment on the deal. However, Table Space President Kunal Mehra confirmed the acquisition. Mehra stated that the property acquired is Kalyani Camellia in Whitefield Mahadevapura, Bengaluru, covering 5,00,000 sq ft.

Expansion in Key Markets

This acquisition marks the second asset owned by Table Space. The first was Panchshil Towers in Kharadi, Pune, which spans over 9 lakh square feet. Mehra did not disclose the financial details of the latest deal.

Bengaluru is a crucial market for Table Space, contributing 46 per cent to its overall revenue. Mehra highlighted that Bengaluru remains their largest growth area and is considered their most mature market.

Company's Growth and Market Position

Founded in 2017, Table Space has developed over 9.5 million square feet (90.5 lakh) of custom workspaces across more than 60 centres in seven Indian cities. The company is recognised as one of India's leading enterprise workspace solution providers.

Table Space offers a comprehensive range of workspace solutions. These include ready-to-move-in premium workspaces and fully customised end-to-end managed office solutions. They also provide future-first Enterprise Workspace as a Service (WaaS).

Rising Demand for Flexible Workspaces

The demand for flexible workspaces has surged significantly post-COVID pandemic. Corporates are increasingly leasing spaces from flexible workspace providers to reduce capital expenditure and avoid the complexities of managing office spaces.

The adoption of hybrid working models has also driven growth in this segment. Companies are opting for flexible workspaces as part of their strategy to adapt to changing work environments.

Mehra emphasised that Table Space is at the forefront of providing enterprise-managed workspace solutions in India. He noted that their solution-based approach addresses clients' workspace needs effectively.

The acquisition of Kalyani Camellia further strengthens Table Space's portfolio and underscores its commitment to expanding its presence in key markets like Bengaluru.

This strategic move aligns with the company's vision to offer innovative workspace solutions and cater to the evolving needs of modern enterprises.