Real Estate advisory pays Rs 30 crore for BKC office

Real estate advisory pays Rs 30 crore for office in BKC
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The Guardians Real Estate Advisory has bought an office in ONE BKC. Plans to make it their head office. The deal has culminated at a price of Rs 40,000 per sq. ft.

By Varun Singh

Real estate, non-broking consultancy firm The Guardians Real Estate Advisory has bought a 7,500 sq. ft. office at one of the prime commercial buildings of BKC, ONE BKC.

The office has been purchased in Tower C of the building and the real estate advisory firm plans to make it their Head Office.

The firm is currently based out of another project in BKC called The Capital from where it plans to shift out in the month of September.

The purchase has been made to reduce the recurring cost of lease and comes at the back of the firm announcing sales of Rs 318 crores on Akshaya Tritiya, during the lockdown.

The firm plans to close the purchase with internal funds and has already made a substantially large down payment. “Around 70% of the payment for the property has been made and we plan to shift during the auspicious days of Navratri this year,” said Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory. 

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He further added, “The response at our mandated projects post the lockdown gave us the confidence to proceed with the purchase.”

One BKC has clients like Bank of America, Facebook, Merril Lynch, Cisco, Amazon and also Brett Lee’s F45 Gymnasium and Fitness Studio. 

Godrej Fund Management recently leased ~ 2 lakh sq. ft. office space to A.P. Moller – Maersk’s business units in Mumbai. The space is located in Godrej Two, Vikhroli.

Earlier in July Morgan Stanley concluded negotiations and reached a deal to lease up to 1.1 million square feet office space for 9.5 years from Oberoi Realty in Goregaon.

Also Read: Godrej leases office to Maersk for Rs 13.09 crore rent

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