Airbus leases 650,000 sq ft office in Bengaluru for 10 years for GCC set up
Airbus has picked up over 650,000 sq ft office space in a commercial tower in Bengaluru’s Whitefield through a long-term lease of 10 years to set up its global capability centre (GCC), supporting innovation and technology development-related strategic initiatives worldwide, said persons with direct knowledge of the development.
The European multinational company will be paying rentals of over Rs 500 crore for this new office space in an entire building of Titanium Tech Park through the lease term.
The deal has provision for future scalability to accommodate growth with an additional 150,000 sq ft that can be exercised after a year, taking the total space to 800,000 sq ft. The clause for lease tenure also includes an option to extend the same by an additional five years, making it a 15-year deal.
“The lease deed has been signed. The total rental outgo will increase once the additional space take up is finalised. The fit-out work will commence in the next few weeks,” said one of the persons mentioned above.
The lease agreement also includes a clause to escalate the rentals by 15% every three years.
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