Fractional ownership platform hBits launches ₹63-crore commercial space in Pune

The Pune asset spans across a chargeable area of 40,000 sq ft and has been leased for a period of five years to a US listed multinational giant

Fractional ownership platform hBits has launched a ₹63-crore commercial space in Pune. The asset spans across a chargeable area of 40,000 square feet and has been leased for a period of five years to a US listed multinational giant, the company’s statement said.

Fractional ownership platform hBits launches ₹63-crore commercial space in Pune (Representational photo) (Pexels)

The rental inflow and purchase price of the asset offer an entry yield of 8.75% and an expected internal rate of return of 14.53%, the statement added.

The property is part of a 25.7 acre commercial campus, primarily occupied by prestigious tenants from the technology, engineering, manufacturing, and financial services industries, the company said.

Location of the property

The new asset - Trillion Dollar MNC - is located in Commerzone, Yerwada, the company said in a statement on August 12.

“Driven by robust regulatory policies and strong infrastructure development, our country is witnessing a significant uptick in leasing activity, and Pune is of the top cities experiencing this surge,” said Shiv Parekh, Founder and CEO, hBits.

As a part of the Eastern Secondary Business District, Yerwada has emerged as one of the most established micro markets in Pune.

Founded in 2018, hBits enables investors to invest in high-yield, Grade-A commercial spaces at a ticket size as low as ₹30 lakh. Headquartered in Mumbai, hBits group has 14 properties so far. The brand achieved a successful exit for its inaugural asset, 32 Der Deutsche Parkz, yielding a high IRR of 17.54%.

hBits plans to register with the Securities and Exchange Board of India as a ‘small and medium real estate investment trust’ (SM REIT) soon. “With plans to list on SM REITs, the new asset in Building Number 1 Commerzone, Yerwada, promises significant capital appreciation and a strategic foothold in Pune’s commercial real estate market,” the statement said.