NEW DELHI: BHIVE which is a Bengaluru based company has leased four co-working spaces in HSR Layout, Koramangala and Jaya Nagar, said Shesh Paplikar, co-founder and CEO of the company.
The company has leased about 20,000 and 28,000 sq ft spaces in HSR Layout, which will have 500 and 700 seats respectively. In Koramangala, it has leased 12,000 (approx) sq ft space while in Jaya Nagar it has rented 20,000 sq ft space. The former workplace will have 300 seats while the latter will have 500 seats capacity.
The company works on three distinctive co-working models. Two works under franchise owned, company operated (FOCO) model; in the first landlord does all the investment while in second private investor(s) put-in the money. Under both FOCO models, BHIVE acts as facility manager. The third is pure lease and sub-lease model.
MK Ravindra co-founder of the company said that the spaces leased in HSR Layout and Jaya Nagar are based on investor-led FOCO model while the one in Koramangala is landlord-led FOCO model.
It plans to maintain an average rent of Rs 8,000 per seat per month in these spaces.
BHIVE recently opened its 1,000 seater co-working space along the MG Road. Arun Narayan, co-founder of the company said that Unacademy has taken about 100 seats while Janagraha has taken 40 seats with us. It also opened 250 seater co-working space in Banashankari and 480 seater in Koramangala.
Source: ET Realty
Image source: bhiveworkspace.com