Built Up Area
566280 sq.ft (13 Acre)
Bannerghatta Road, Bangalore
- Sale Type
IBC, a three generations old family owned and professionally managed real estate developer of South India having delivered over 12 million sqft, is excited to share an
opportunity to acquire 100% interest in IBC Knowledge Park strategically located on Dairy Circle, Bangalore, only 5 km from the Central Business District.
IBC Knowledge Park is Bangalores most renowned office address spread across 13.3 acres of land on which an impeccably planned Grade-A office space of about
1.75 million sqft (core asset) stands tall, and has 3,500 Car Parks with a car parking ratio of 1:60 sqm.
Currently, the Gross Leasable Area (GLA) is spread across Towers A-D of 1.75 million sqft with an additional unused FAR, that will be loaded for constructing Tower G with GLA of 480,000 sqft (Forward Sale) as part of the future development. All required clearances for such a construction are in place. The Property has over the last decade been home to several big names in the IT Industry like Accenture, Oracle, IBM and many others with current occupancy at99+% and Net Operating Income (NOI) stabilizing at INR 169 Cr (as projected for FY19-20). Assets of this scale and size are a real rarity in Bangalore, a city that commands the tag of being the most mature office market in India.
Furthermore, the Property has an attractive lease profile with potential near-term rental reversions of close to (35%) as rents are adjusted from the average base rate
of INR 63/sqft/month (as on April 2018) to match the market rental of INR 85/sqft/month. This provides a significant future upside. The Capital City, of the State of Karnataka, Bangalore has a per Capita Income of USD 4,175 and is an economic hub steadily on the rise with a GDP growth rate of 10.3%.
Why Young India prefers Bangalore:
#1 Easy Access to Tech Talent
PRICE 5500 CRORES Slight Negotiable. For More Details Please Contact us only on whatsapp