AIPL leases out More Than 5 lakh sq ft of Grade A Office and Retail Space in Gurugram

AIPL leases out More Than 5 lakh sq ft of Grade A Office and Retail Space in Gurugram

AIPL estimates an annual rental income of approximately Rs 50 crore from the project, with an average lease agreement period spanning 9 years. Kuehne+Nagel, Lummus Technology, Milliman, British Airways and Deloitte have each secured over 50,000 sq ft of space.

Gurugram-based real estate firm Advance India Projects Ltd (AIPL), which specialises in developing upscale commercial and residential real estate projects, has leased out approximately 5 lakh square feet of office space in its Grade A+ office complex, ‘AIPL Business Club’, the company said on June 13.

The project, AIPL Business Club, is located on Golf Course Extension Road, Sector 62, Gurugram, Haryana. It has a total leasable area of approximately 6,75,000 sq ft, along with retail outlets and a food court.

The project has been developed with an investment of around Rs 320 crore. The company anticipates an annual rental income of approximately Rs 50 crore, it said.

The tenants

Its key tenants include Kuehne+Nagel with 65,220 sq ft, followed by Lummus Technology (52,374 sq ft), Milliman (52,374 sq ft), British Airways (52,378 sq ft), Deloitte (51,409 sq ft), Cargill (35,797 sq ft), Brillon Consumer Products (16,603 sq ft), Grupo Bimbo (16,596 sq ft) and Unlimint (14,855 sq ft) of space, and many more, the company said.

“The complex’s design and architecture have been a crucial factor in attracting corporates looking for expanding in Gurugram,” said Ishaan Singh, Director, AIPL.

AIPL Business Club has a LEED gold and GRIHA 4 Star Certification.

AIPL has a diverse portfolio comprising over 7 million sq ft of premium office spaces, over 3.7 million sq ft of retail spaces and approximately 800 acres of residential township development across Delhi-NCR and Punjab.

Source : Money Control

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