We are very proud to announce that Tata Group’s retail business Trent has acquired 5 floors of office space at the recently completed office building, Lodha Excelus at Lodha NCP. This transaction marks one of the largest deals in the commercial real estate segment in terms of both value and prestige. Of these 5 floors, 1 has been taken on lease basis and the balance 4 floors have been purchased, making it a total of approximately 150,000 sq.ft. area.
Trent operates retail chains like Westside, Landmark, a family entertainment format store, and Star Bazaar, a hypermarket chain which is a joint venture with UK’s supermarket chain, Tesco. The newly acquired space is expected to house consolidated offices of these brands.
Over the past few months, Lodha NCP has emerged as a key rental hub in the neighbourhood. With over 300+ tenants at Lodha NCP, home owners have enjoyed the highest absolute rental incomes in the entire micro market. The deal with Trent further is significant as it offers Lodha NCP a ready captive audience for tenancy.
Further with the BKC-Sion elevated road set for completion soon, BKC will be just 10 mins away from Lodha NCP making it a part of the BKC office ecosystem and significantly boosting rental demand. Additionally, it has been seen across the world that an integrated development coupled with major infrastructure developments has always led to significant appreciation in the micro-market.
Moreover, this partnership is an ideal start to the ‘Walk to work’ concept that Lodha NCP promotes, where residents need not spend hours commuting to work and get more time for themselves.
With the announcement of Trent and several other alliances in the pipeline, Lodha NCP is well and truly on its way to the becoming the epitome of integrated lifestyle in Mumbai.
To read more please visit - https://bit.ly/2CkTAVr