hBits lease out 37,362 sq ft office space in Thane| CREDAI MCHI Thane

hBits lease out 37,362 sq ft office space in Thane

November 25, 2024

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The grade A commercial asset, valued at Rs 54.66 crore, is situated in Ashar IT Park at Wagle Estate. The valuation is based on the rental rate as per the signed agreement with the tenant.

NEW DELHI: hBits, a fractional-ownership-platform, has leased out 37,362 sq ft office space in Thane to a French-listed multinational company.

The grade A commercial asset, valued at Rs 54.66 crore, is situated in Ashar-IT-Park at Wagle Estate. The valuation is based on the rental rate as per the signed agreement with the tenant.

The asset has an entry yield of 8.75% and an expected internal rate of return (IRR) of 15.16% over the five-year holding period, with a return multiple set at an average of 1.81x.

The leasable area of the entire building is about 1.1 million sq ft.

Source: realty.economictimes.indiatimes.com