Bermuda-based global financial services provider Apex Fund Service LLP has picked up over 53,592 sq. ft. of office space in Pune’s Viman Nagar from property developer Panchshil Realty for a total tenure of five years.
The company has leased the office space on the 7th floor of Panchshil Business Park’s Tower A with a lock-in period spanning over the entire lease tenure.
As per the agreement, Apex Fund Service will be paying monthly rentals of Rs 107 per sq. ft. for the office space. It also includes a clause to escalate rentals by 15% after the first three years.
According to property consultants, the demand for commercial real estate spaces in Pune has primarily been driven by manufacturing sector companies, banks, and financial institutions.