BHIVE workspace

BHIVE acquires four Co-working Places in Bengaluru

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BHIVE is a Bengaluru-based company that leased four co-working spaces in Bengaluru, These working centres are located in HSR Layout, Koramangala and Jaya Nagar, Shesh Paplikar, co-founder and CEO of the company said.

 

The firm has leased approximately 20,000 and 28,000 sqft spaces in HSR Layout that will have a seating capacity of 500 and 700 seats respectively. Similarly, the firm has leased approximately 12,000 sq ft space in Koramangala and rented 20,000 sqft space in Jaya Nagar. The centre in Koramangala is estimated to have 300 seats while the centre in Jaya Nagar will have 500 seat capacity.

 

BHIVE is working on three different co-working models out of this, two functions under franchise-owned, company-operated (FOCO) model. Under the first model, the property owner has to invest while in the second case private investor(s) has to make an investment. 

 

BHIVE will act as a facility manager under both FOCO models as the third one is a lease and sub-lease model.

 

MK Ravindra co-founder of the company said that the spaces leased in HSR Layout and Jaya Nagar are based on investor-led FOCO model and the space in Koramangala is based on landlord-led FOCO model.

The average monthly rental of Rs 8,000 per seat is estimated in these spaces and recently, the company opened its 1,000 seater co-working space along the MG Road. 

 

Arun Narayan, co-founder of the firm said that Unacademy has acquired approximately 100 seats and Janagraha has taken 40 seats with us. Unacademy also opened 250 and 480 seater co-working space in Banashankari and Koramangala respectively.