Serviced Office Demand Rapidly Increases in India

Due to the economic downturn, the demand for serviced offices is rapidly increasing in India. The increased demand is generating new business for serviced office providers as business clients are avoiding long-term leases in a period of uncertainty. The demand has increased by fifteen percent over a three-month period.

Business clients are becoming wary of entering a long-term lease during economic uncertainty and serviced office business centers are reaping the benefits with flexible lease terms and fully equipped office that provide immediate occupancy.

In addition to economic uncertainty, the recent terrorist attack in Mumbai has also contributed to the increase in demand for serviced office space. Business clients want to establish a presence in India without the long-term commitment associated with a conventional lease.

Avanta, a leading serviced office provider in the UK recently established three serviced office buildings in New Delhi and Mumbai. The company has plans to expand to over 20 serviced office business centers across India over the next to years with an investment of $2.5 million per center.

Another leading serviced office provider, Servcorp, is also looking into expansion plans into India to increase the supply to meet the demands of business clients.

Up until the increased demand for serviced office space in India, most companies with small teams were operating out of the hotels in India because conventional office space was at a large premium during recent years. The companies occupying the high premium office space are now looking into serviced office occupancy.

Serviced offices provide business clients with a cost effective method for establishing a business presence in India. Clients like the idea of the flexibility of being able to move in immediately while reducing upfront costs which include capital expenditures. The companies no longer want to block their capital with conventional leasing.

In addition to Avanta and Servcorp, other major players in the serviced office industry are currently making plans to expand into India and the rise in the demand makes expansion an attractive proposition for investors.

Move and Stay at www.moveandstay.com has updated information on serviced office accommodations in India.

Global Financial Meltdown Increases Demand for Serviced Offices in India

The demand for serviced offices has recently gained momentum and is growing at a rate of 15 percent to 20 percent. The sudden growth in demand comes as a result of the current global financial meltdown and its effect on conventional long term leases for office space and corporate downsizing.

The demand for serviced office space has increased due to the fact that a serviced office does not require the expense of furnishings and provides a way for businesses to move in quickly and establish a business presence in a prime location. In addition to being able to establish an instant office, the leases for serviced offices are flexible which allow businesses to expand or downsize as the economy fluctuates.

As a result of the increase in demand, serviced office providers are making plans to expand serviced office centers in India by tapping into negotiations with top builders to construct serviced offices in prime location commercial buildings. The conventional lease offices in the commercial buildings require corporate clients to commit to a long terms lease until the lease period ends. Clients occupying serviced offices can lease the office space for as little as one day and exit without a commitment.

Avanta, a leading serviced office provider in the UK, plans to expand serviced office centers from 3 to 20 in metropolitan areas at an investment of $2.5 mn. The company is developing serviced office centers in Mumbai and the project includes Lower Parel, Andheri, and Powai. The serviced office project will include both large and small serviced office space.

Servcorp, an Australian-based serviced office provider, has recently entered into a franchise agreement with K Raheja Corp. Other serviced office providers such as Regus, India, are considering the acquisition of over 8,000 square feet of office space and The Executive Centre from Hong Kong also has expansion projects into India.

Major serviced office providers are looking to expand their operations to many metropolitan areas in India due to the rapid increase in demand for serviced office space and the rates are expected to be on the basis of Rs 80,000 per desk.

For continual updates, office accommodations, and expansion of new projects in India, log onto Move and Stay at www.moveandstay.com .

Avanta Opens Serviced Offices in India

Avanta, a leading serviced office provider in the United Kingdom, recently launched two serviced office facilities in Delhi and Mumbai via Avanta’s Indian subsidiary, Avanta India.

The serviced office facilities in Delhi occupy over 20,000 square feet of office space, meeting rooms, and training rooms, and are located in Connaught Place. The serviced office facilities in Mumbai occupy 70,000 square feet of space and are located in Oval House near Fort and Platina Building in Bandra Kurla Complex.

The serviced office facilities will provide corporate clients with high end offices offer minimal up front payment requirements and a design that allows for immediate occupation. Terms for length of stay are flexible and companies are welcoming this option due to the current global slowdown as well as some of the recent events that have occurred in Mumbai.

The company’s expansion into India has occurred as a result of Kenmore Property Group buying Avanta management last year. This provided Avanta with a £100 mn fund for the sole purpose of international expansion in growth markets such as India, China, and the United Arab Emirates.
Avanta has set a benchmark in the serviced office industry with its expansion into India and plans for continued expansion are underway.

Avanta was founded in London in 2004 and offers state-of-the-art serviced offices, meeting rooms, and training facilities equipped with audio and videoconferencing. Companies can rent the meeting rooms and training rooms by the day or for a longer term. Inquiries can be directed to Move and Stay at www.moveandstay.com .

Avanta offers highly flexible, unbranded serviced office space, with advanced and competitively priced technology that can be customized to meet the individual requirements of corporate clients. In the UK it currently manages over 670,000 square feet of serviced office space in prime locations in London, the Thames Valley, Manchester, Birmingham and Edinburgh.

Additional information on Avanta serviced office space can be obtained by logging on to Move and Stay at www.moveandstay.com

Serviced Office Market Increasing in India

According to market statistics, business start-ups, professionals, and large companies who are looking to establish a presence or expand their business to India, are increasingly opting to choose serviced office space as opposed to conventional leased office space. Businesses prefer to take advantage of the flexibility of serviced office space that does not require furnishing and an extensive lease but provides a professional business presence with immediacy and location at a reasonable cost.

With serviced office space, a company can opt to stay for a few months, a few years, or even a few hours regardless of whether it needs a full office or virtual presence with a virtual office. Companies can simply enter, sign a simple agreement and immediately start conducting business. This simplicity allows business to concentrate on business development, productivity and profitability instead of detailed logistics of establishing a presence. The company pays for serviced office space on a pay as you go basis with the flexibility of allocating additional space at short notice.

In India, the cost per serviced office space could amount to anything between Rs 20,000 and Rs 80,000 and the market is rapidly beginning to double because it is beginning from a low base of current serviced office availability. According to Avanta, a leading serviced office space provider in the United Kingdom, the trend of serviced offices has significantly increased in India and the company recently launched its first facility at Connaught Place. The demand for serviced offices has increased due largely because of high rental of conventional leased office space.

Avanta predicts that the trend of leasing serviced offices will continue to be on the upswing in India during the next few years and the company plans to expand its portfolio of serviced office properties to accommodate the trend.

To learn more about available serviced office accommodations and the upward trend of increase space availability, contact Move and Stay at www.moveandstay.com .

Avanta Launches Serviced Offices in India

Avanta, a leading provider of serviced office space throughout the United Kingdom, recently launched its first serviced office facility in Statesman House, Connaught Place, New Delhi. The new serviced office property occupies 21,000 square feet of office space and offers meeting and training rooms, a secure reception area, and wi-fi enabled communal areas.

The serviced office building is located in the heart of New Delhi’s primary business district and within close proximity to domestic and international airports, the railway station, the main shopping area of Connaught, and a variety of restaurants and bars.

The serviced office spaces range from two person furnished accommodations to complete floors that are tailored to meet the individual needs of each client. The prime serviced office space is competitively priced featuring cutting edge communications technology that includes VoIP telephone systems, Internet access, and dedicated client server rooms.

The serviced office facility offers businesses a complete package of office support and is capable of delivering an entire range of business center facilities to home workers, business start-ups, mobile professionals, and larger companies seeking a presence in India. There is also a meeting and training room facility equipped with audio and videoconferencing, that is available to companies desiring to rent space short term for meeting and training sessions.

The serviced office center in Statesman House, New Delhi, has already attracted many inquiries noting that the Avanta model is known for quality and value in many professional markets. Avanta plans to expand their serviced office facilities to other regions in India in the near future.

During the grand opening of the new center, Avanta provided a reception for business partners, clients, and international and Indian commercial property consultants. The reception was followed by a guided tour of the serviced office facility and a party that included a performance by Ash Chandler who is one of India’s popular stand-up comedians.

Avanta's primary mission is to provide organizations of all sizes and types with well-equipped, non-branded and high quality serviced office accommodations in prime locations, flexible services and contracts, fixed and reliable pricing and exceptional value for the money.

Additional information on serviced offices can be obtained from Move and Stay at http://www.moveandstay.com/ .