The new office of WPP, having 260,000 sq ft carpet area, is located at Sahar, one of the metro’s key opportunity zones
JLL India, the country’s largest real estate consultancy and professional services firm, has advised and facilitated a 10 year lease for WPP from Chalet Hotels, for its new office, having a carpet area of 260,000 sq ft, it said in a statement released today. The Firm was also appointed as the project manager to complete fit-outs for the office space, which is situated in The Orb - an integrated food, beverage and entertainment project close to the city’s international airport. The Mumbai campus is named BAY99, which symbolises the city’s historical roots and is also the campus’s postal code reference.
The creative transformation company is bringing together over 16 of its agencies that were previously situated at different locations across Mumbai. According to the terms of the agreement, the space will be leased in three phases. First to co-locate to this campus include Ogilvy this month, followed by other agencies including Wunderman Thompson, Grey, GroupM to name a few in the weeks ahead.
JLL India was the exclusive advisor and project manager to WPP on this transaction.
Ramesh Nair, CEO & Country Head - India, JLL said, “This is a prestigious transaction for us. It showcases JLL’s expertise in advising and structuring large transactions in Mumbai, a highly demand-driven and robust office leasing market. With its well-developed social and physical infrastructure, excellent connectivity to the airport, proximity to ready-to-move in offices and other key locations in the city, the Sahar Area offers the right mix of location and quality space. We believe that this transaction will provide a significant fillip to the overall office leasing market.”
CVL Srinivas, WPP Country Manager, India said, “The plan to establish a WPP Campus in Mumbai is in line with our global strategy of bringing together agency brands like Ogilvy, GroupM, Wunderman Thompson and others into a single integrated office campus. India is a leading growth market for WPP. To support our already strong local presence, we have developed this exciting new workspace that will encourage a fresh approach to creativity, innovation and agile collaboration among our companies. This move also demonstrates our commitment to having best-in-class infrastructure and ensuring that we provide exceptional facilities to our employees and services to our clients.”