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representative imageconsumer appliance major Bajaj Electricals has taken up an entire floor of office space spanning 61,000 square feet blackstone group Unit Nucleus Office Park‘in the commercial complex One International Center MumbaiThe business district of Lower Parel is on a long-term lease of about five years, said persons with direct knowledge of the development.
The company will pay a total rent of around Rs 70 crore for these five years, which includes a 4.5% rent increase after every 12 months. offers compromise Bajaj Group The company will then have an option to extend the lease term up to 15 years at market rates. “The deal was concluded and registered earlier this week. Bajaj Electricals The fitout work is expected to begin soon and is likely to go ahead by September or October,” said one of the persons cited above.
The senior management of the company will function from the new office.
Apart from the option of extending the lease period, talks are also going on with the company. nucleus Office parks to take up more space.
Bajaj Electricals Has taken office in T4, a 22-storey and 7 lakh sq ft front facing new tower, which is a part of it. nucleus Office Parks One International Center in Lower Parel. An international center already has the headquarters of large global and Indian firms including Deloitte.
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