Sun Pharma to purchase StanChart’s Mumbai Tower for Rs 280 crore
Two persons familiar with the development, informed that the drug maker company Sun Pharamacuitals will buy the official building in Mumbai’s Goregaon suburb from Standard Chartered Bank for Rs 280 crore.
The building is named as Standard Chartered Tower which consists of ground plus six upper floors and has total built up area of 2.20 lakh sq ft and includes two basements. The cost of this deal is depends upon the space.
It is learnt that both the concern parties have already entered into the agreement and the deal will be finalized in next 2 weeks.
Apart from the main building, the property includes a clubhouse with gymnasium and swimming pool facilities and parking space for total 177 cars. This property is part of Raheja Titanium Complex and is developed over 1.8 acer space on western express highway.
This tower is till now used for the bank operations but now Sun Pharma is planning to transfer its headquarters in the Andheri suburb of Mumbai to this new office building.
The capital value and rents for the commercial buildings have been decreasing since last 24 months.
Standard Chartered has already transferred its staff from the Goregaon office to its headquarters in BKC.
It is learnt that the bank headquarters is spread over2.5 lakh sq ft across 4.5 floors is big enough to accommodate the staff from Goregaon office.
Source: The Times of India
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