Mercedes-Benz, One of the world’s largest luxury carmaker has finally decided to take a big leap and has leased over 3 lakh sq ft of commercial space for 15 years in Bengaluru’s eastern peripherals of brookefield.
These steps taken by Mercedes-Benz seems to be quite significant as the automotive industry gets troublesome with the introduction of autonomous, electric and shared mobility. Mercedes-Benz is also expected to use this designated space for SAP delivery platform with allied research. After the first two tranches, the balance 2,50,000 sq ft out of the total planned one million sq ft will be leased by next-year.
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- The initial 3.5 lakh sq ft of land leased by Mercedes-Benz will have the capacity of accommodate almost 3,500 employees. With that said Mercedes-Benz will also be paying?38 per sq ft month which will push the company’s annual payout to whooping Rs 16 crore.
- However once the whole 1 million sq ft is leased Mercedes-Benz total annual payout will almost touch a staggering Rs 46 crore.
- The lease for Mercedes-Benz shall stand a tenure of 15 years, including three standard terms of five years each. Altogether the lease agreement holds a 15% rental escalation clause set for every 3 years. Mercedes-Benz will also be liable for paying a security deposit equivalent to eight months’ rental.
- The Indian research and development centre for the company has metamorphosed from it’s tiny division of only 20 employees in Bengaluru a couple of decades ago into a full fledged powerhouse of more than 5,00, employees significantly contributing to the company’s new-age technology.
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