SBI Cap Buys Office Space in Lower Parel
SBI capital bought the space worth more than Rs. 70 crore from Marathon Realty through a tender process that concluded last week. This office space is for shifting the operations of SBI Cap’s broking subsidiary SBI Cap Securities Ltd (SSL) from its present location and some activities of the investment bank’s operations. The investment bank may shift its investment bank to 12th floor in the office space.
There has been almost no outright office transaction in Lower Parel, Prabhadevi and Worli for over six months. The deal is significant as it brought at least some movement in the stagnant market. Capital values and lease rentals for office space have seen very little activities for the last two years. The rates have, thus, been very competitive and attractive. Recently, Sun Pharmaceutical Industries entered into an agreement to acquire an entire commercial building in Goregaon suburb of Mumbai from Standard Chartered Bank for Rs. 280 crore.
Source: The Times of India
Commercial real estate, future, investment bank, Lease, Lower Parel, Marathon Realty, Mumbai, Rental, SBI, SBI Cap Securities Ltd, sbi capital, Worli
