There is an opportunity to purchase a 10,988 square feet commercial office space (40% leased) in L&T Seawoods Grand Central - India’s first and largest Transit Oriented Development - located in Navi Mumbai, for an all-in cost of Rs. 17,58,00,000 (Rs. 13,563 per sf purchase price).
The listing is a combination of 2 units in Tower 2:
1. 7th Floor Unit measuring 4,240 sf leased to Ansell a $4 billion Australian company manufacturing protective and medical gloves
2. 6th Floor Unit measuring 6,748 sf currently vacant but under discussion with multiple potential tenants
The listing is a combination of both units meaning investors will get a share of both the Ansell lease and the vacant area totally measuring 10,988 sf.
Developed by L&T, the retail mall and one office tower has been bought by global PE fund Blackstone. PropertyShare’s units are located on the 6th floor and 7th floor of Wing D and Wing F respectively and enjoy unobstructed views of the Arabian sea. Property Share has leveraged its relationship with Blackstone and L&T to get a phenomenal purchase price of Rs. 13,563 psf which is a 10% discount to what L&T sells lower floors for in the property.
Seawoods Grand Central is a LEED Gold certified high-end mixed-use development with a 1 mn sf mall, 2 mn sf office and an upcoming hotel built on top of the centrally connected Seawoods Railway Station.
The integrated development has a 1 mn sf operational mall which has been purchased by global real estate PE fund Blackstone and houses marquee tenants like H&M, Lacoste among others.The office tower has been recently leased to $18 bn co-working start-up WeWork.
Spread across 40 acres, Seawoods Grand Central is an integrated Commercial, Retail and Hospitality development above the Seawoods railway station.
