The Office Pass leases 26,000 sq ft in Gurugram

January 13, 2023
The Office Pass leases 26,000 sq ft in Gurugram

Neighbourhood Coworking operator, The Office Pass has leased 26,000 sq ft of office space for its 14th centre.

The occupancy across TOP Coworking offices reached 87% in December 2022 quarter.

The new office will come up in Unitech Cyber Park (UCP), which is close to HUDA Metro Station. This will be TOP’s fourth office in UCP with a combined capacity of over 1600 desks spread across 72,000 SqFt.

“The coworking and managed office business is experiencing strong tailwinds on account of people returning back to office in a hybrid manner. We hope to capitalise on this momentum and target of open 50 offices over next 24 months. TOP business turned profitable in Jan-March 2022 and we have been growing in triple digit post COVID,” said Aditya Verma, Founder & CEO, The Office Pass (TOP).

The new space will cater to the office requirements of large corporates, SMEs, as well as start-ups. Corporates from team size 8 to 200 will be able to utilise this ready to plug-in facility from end of February 2023. TOP will make in investment of approximately Rs 12 crore in this new facility.

Flexible office operators see steady demand from enterprises and SME’s due to the uncertainty in the business environment and flexibility on investment commitment in the coworking space.

“Hybrid work is the way forward. And with the leadership of the NCR markets, the growth playbook for geographic expansion is ready. Both bottom line and top line growth can be expected as TOP opens new centres in the months to come,” said Brijesh Damodaran, Founder, Auxano Capital one of the early investors in TOP.

The Coworking and managed office market has disrupted the traditional work environment and has seen massive growth in the last few years.

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