Barclays leases over 64,000 sq ft of commercial space for 5 years at a monthly rent of ₹2.08 crore per month in Mumbai

Barclays has paid a security deposit of ₹12.48 crore for the deal. The lease deeds were registered on January 24, 2024, the documents showed

Published on: Jan 30, 2024, 17:01:48 IST

By Vandana Ramnani

Prefer HTon Google

Share via

Copy link

Barclays has leased 64,995 sq. ft. in a building known as Altimus in Worli, Mumbai, for five years at a starting monthly rent of ₹2.08 crore, documents accessed by FloorTap.com showed.

Barclays has paid a security deposit of ₹12.48 crore for the deal, the document showed.

The Barclays Bank has leased one-and-a-half floors and an outdoor unit (31,32 and 33rd floors) and Barclays Investments & Loans (India) Private Limited has leased 5,558 sq ft on the 33rd floor. These floors have been leased from Whispering Heights Real Estate Pvt Ltd, a 50-50 JV between K Raheja Group and Reco Solis Private Limited (a 100% step-down subsidiary of GIC Reality Private Limited which is owned by Government of Singapore). K Raheja Corp has constructed this marquee 42-storey building, a new age Central Business District asset class in Worli.

The commercial units with Barclays Bank come with 47 car parkings and those with Barclays Investments & Loans (India) Private Limited four car parkings, the document showed.

The lease deeds were registered on January 24, 2024.

The rent works out to be ₹320 per sq ft on the chargeable area that totals to ₹2.08 crore. It will increase by 4.5% every year. The lease of the floors commences from January 1, 2024, the document showed. The lease will expire on December 31, 2028.

The maintenance charges towards the common area of the building will be at the rate of ₹25 per sq ft on the chargeable area of the premises per month amounting to ₹16.25 lakh, the document showed.

The company can increase the lease term for another five years, the documents showed.

Also Read: Share of green office leasing touches 16% in 2022-2023; Global Capability Centres account for 76% of overall leases

The building has been constructed as per LEED standards for a platinum rating and post completion the lessor will obtain IGBC platinum certification and the lessee shall obtain green energy from the power generation company, the document showed.

Also Read: Air India leases 6.2 lakh sq ft commercial real estate space in Gurgaon at an annual rent of ₹90 crore for 21 years

Sources said that Morgan Stanley and ANZ Bank have already taken up space in the building.

K Raheja Corp and Barclays Bank did not comment.

Last year, Netflix had renewed its lease for a commercial space in Godrej BKC for five years at a monthly rent of around ₹5 crore.

ABOUT THE AUTHOR
Vandana Ramnani
Vandana Ramnani leads the real estate vertical at Hindustan Times Digital, bringing over two decades of journalism experience across real estate, education, human resources, and foreign affairs. She specialises in India’s real estate sector, covering residential and commercial markets in Delhi-NCR, Mumbai, and Bengaluru, with in-depth reporting on regulatory developments, urban policy, housing trends, and interviews with industry leaders. Her work has also appeared in the Hindustan Times newspaper and HT Estates. Earlier, Vandana played a key role in establishing the real estate vertical at Moneycontrol (NW18 Group), shaping its editorial direction and market coverage. She has also written extensively on international education for HT Education, tracking global study destinations, policy changes, and student mobility trends, earning the Singapore Education Award 2009 for Best Media Coverage (Print). Her reporting portfolio includes human resources and employment trends for HT ShineJobs and PowerJobs, as well as lifestyle and interior design features for HT Premium Homes. Vandana began her career with the Press Trust of India, gaining strong editorial and reporting expertise. She was also selected for a prestigious fellowship at Fondation Journalistes en Europe in Paris, where she wrote for EuroMag. One of her notable reporting assignments included covering Germany’s capital relocation from Bonn to Berlin. Outside of journalism, Vandana is a passionate traveller, constantly seeking out charming hideaways across India and the lesser-known, offbeat corners of Southeast Asia.Read More