Redbrick Offices’ Subsidiary Red Fox Acquires 22 Commercial Units in Mumbai, Andheri for ₹267 Crore

Red Fox IT Infra LLP, a subsidiary of co-working space provider Redbrick Offices, has made a substantial investment in Mumbai’s commercial real estate market. The company has acquired 22 office spaces in the Times Square building in Andheri East for ₹267 crore. This significant transaction highlights the growing demand for flexible office spaces in one of India's key business districts.

The acquisition covers a total area of 87,618 square feet, spanning the 6th, 7th, and 8th floors of the Times Square building located in the Marol area of Andheri East. According to property registration documents accessed by CRE Matrix, the deal for 18 of the offices was registered initially, while the remaining four units were registered subsequently. The transaction also includes 88 car parking spaces, a valuable asset in Mumbai’s dense urban environment.

The stamp duty for the entire transaction amounts to over ₹8 crore, with the average rate per square foot calculated at around ₹30,500. The seller in this deal is NTPL Developers LLP, indicating a high-value exchange in the region's commercial real estate market. Redbrick Offices is known for its extensive network of co-working spaces across major Indian cities, including Mumbai, Pune, Navi Mumbai, Thane, Bengaluru, and Hyderabad.

Andheri East, where this acquisition is located, is a prominent commercial hub in Mumbai, known for housing numerous co-working spaces. Redbrick Offices operates 35,000 seats across 31 centers in various key commercial areas such as Bandra Kurla Complex (BKC), Goregaon, Andheri, and Lower Parel. This new acquisition strengthens their presence in a region renowned for its connectivity and business activity.

The demand for co-working spaces in Mumbai has been on the rise, driven by the flexibility and cost-efficiency they offer to businesses. This trend is reflected in other recent high-value transactions in the city.

Red Fox IT Infra LLP's purchase of the 22 office spaces in Andheri for ₹267 crore underscores the strategic investments being made to cater to the evolving needs of modern businesses. As companies continue to adapt to new working models, the demand for co-working spaces is expected to remain robust, driving further investments in this sector. This acquisition not only expands Redbrick Offices' footprint but also reinforces the importance of flexible office solutions in today’s dynamic business environment.