Hyderabad city is forging ahead in leasing of space activities as the city saw 15-lakh sft of office space leased by companies in the first half year of the current fiscal year. Renowned real estate consulting firm CBRE South Asia Private Limited, in its latest report, said that industrial and logistic leasing of space crossed 15-lakh sft mark, while the supply of office space was limited to 9 lakh sft. While 3PL grabbed 46 per cent share in leasing activities, e-Commerce’s share is put at 21 per cent followed by retailer organizations with a share of 9%.
In Hyderabad, Flipcart took on lease independent warehouse with a total plinth area of 2,75,000 sft, the TCI Supply Solutions took on lease 2-lakh sft Indian Logistics warehouse, while the Safe Express took 1.4-lakh sft independent warehouse on lease. Meanwhile, rents in all the four corridors – north, east, west and south –have increased. While the rents in the north corridor spiked from 23 per cent to 25 per cent, other micro markest have registered a rental growth of 5% to 12 %.
CBRE South Asia chairman and India CEO Anshuman Magazine opined that the stepping up of the leasing activities in Tier-1 cities due to upgradation and expansion, rapid expansion of new markets in Tier-2 cities and expansion of distribution network in the logistic hubs are likely to contribute to further increase in leasing activities.
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