Thompson Reuters leases 32,416 sq ft office space in Mumbai

NEW DELHI: In a deal that is could lead to Thomson Reuters likely shifting its India headquarters to One Indiabulls Center in Mumbai, the company has recently leased 32,416 square feet office space in the commercial building in Lower Parel, Mumbai, according to two people in the know of the development.

The office space, at the 12th floor of One Indiabulls Center, is leased at an all-inclusive monthly rental of Rs 180 per sq ft, which includes the registered rental value and common area charges, taking the annual payout to Rs 7 crore, according to one of the persons mentioned above.

Thomson Reuters has paid a security deposit of Rs 8 crore for a lease period of 15 months, for an office space that could seat around 300 employees, he added. It already has an office in the Piramal Towers, at Peninsula Corporate Park in Lower Parel, sized at around 20,000 sq ft.

“The company could potentially be making the new office as its India headquarters,” said the second person. Confirming the deal, Vishal Parekh, CFO, Thomson Reuters India, said, “The new office will provide best in class infrastructural facilities to our employees and help in providing excellent service and experience to our customers.”

Indiabulls Real Estate, however, declined to comment on the deal. There is a lot of commercial activity happening in the Lower Parel location of Mumbai in a rental range of Rs 140-180 per sq ft per month, according to Raja Seetharaman, co-founder, Propstack. “Lower Parel is a centrally located area and have a few grade A office buildings,” he said.

One Indiabulls Centre, owned by Indiabulls Real Estate, has a total office space of 16 lakh sq ft, of which around 15.25 lakh sq ft has already been occupied.

Some of the marquee clients with offices in the building include Bloomberg Data Services, Birla Sunlife Asset Management, Aditya Birla Financial Services, American Express Services India and Reliance Capital Limited.

Credits ET Realty

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