Home / Business and Economy / WeWork Leases Hyderabad Office, Sub-Leases to JP Morgan
WeWork Leases Hyderabad Office, Sub-Leases to JP Morgan
1 Dec
Summary
- WeWork India leased 1,75,953 sq ft in Hyderabad's Hitech City.
- JP Morgan Services India Pvt Ltd will occupy the entire leased space.
- A significant rent difference exists between WeWork's lease and sub-lease.
WeWork India has finalized a major workspace transaction in Hyderabad, leasing 1,75,953 sq ft at the Skyview 20 commercial tower in Hitech City. This space is then being sub-leased entirely to JP Morgan Services India Pvt Ltd.
The initial lease agreement between WeWork India and Mahanga Commercial Properties involves a 60-month term with a monthly rent of ₹1.72 crore. Shortly after, WeWork executed a sub-lease agreement with JP Morgan for the same area, at a significantly higher rent of ₹4.38 crore per month.
This substantial rent differential underscores the value WeWork adds through custom fit-outs, amenities, and services, catering to JP Morgan's demand for managed office solutions. The deal reflects the growing demand for flexible workspaces in Hyderabad, driven by hybrid work models.
