Julius Baer rents around 74,000 sq ft in Andheri East

Julius Baer’s lease of around 74,000 sq ft at Waterstones Business Park puts the focus on Andheri East as an important commercial office market in Mumbai.

The five-year lease reportedly starts at approximately ₹1.55 crore per month, or ₹209 per sq ft, with an annual escalation of 5%. For brokers, developers and commercial property owners, the transaction provides a useful benchmark for premium office space in the micro-market.

Andheri East has a diverse commercial inventory ranging from older standalone buildings to modern Grade A business parks. Rentals can therefore differ significantly depending on building quality, location, floor plate, amenities and connectivity.

The location benefits from proximity to Mumbai airport, the Western Express Highway and Metro connectivity, along with established commercial clusters around Marol, Chakala, MIDC and SEEPZ.

Another important factor is the growing requirement for quality office space from Global Capability Centres and financial services companies. Large occupiers increasingly evaluate buildings on infrastructure, accessibility, employee experience and operational efficiency rather than rental cost alone.

Key takeaway: Large corporate leases indicate continued demand for quality commercial assets in Andheri East and provide brokers and developers with useful benchmarks for the premium office segment.