Enzyme Office Spaces has leased 14,000 sq ft of managed office space in Mumbai’s Andheri East to SUGAR Cosmetics, providing 300 seats for a five-year term. The deal reflects India’s growing demand for flexible workspaces, with the coworking sector expected to surpass 100 million sq ft by 2026.
In a significant move within India’s coworking industry, Enzyme Office Spaces has leased 14,000 square feet of managed workspace in Andheri East, Mumbai, to beauty and personal care brand SUGAR Cosmetics. The space, accommodating 300 seats, has been secured for a five-year lease term, reinforcing the rising demand for customized office solutions in India’s business hubs.
Enzyme Office Spaces, which operates 32 centres spanning 14 lakh sq ft across Bengaluru, Mumbai, Hyderabad, and Delhi-NCR, continues to expand its presence in India’s coworking market. Depending on location, the company offers flexible seating solutions ranging from ₹5,000 to ₹25,000 per desk. Speaking on the latest deal, Ashish Agarwal, Founder & CEO of Enzyme Office Spaces, stated, “The partnership affirms our commitment to be a key player in India’s coworking and managed office landscape.”
Enzyme initially leased the workspace from the House of Hiranandani, but the entire facility is now subleased to SUGAR Cosmetics. Nirav Jagad, Chief People Officer at SUGAR Cosmetics, emphasized the strategic nature of the deal, saying, “As a part of our strategic expansion, we have entered into an agreement with Enzyme Office Spaces for a custom-developed workspace solution in Andheri East.” He further highlighted the accessibility benefits of the location for employees and visitors.
The broader coworking sector in India is witnessing rapid growth. According to real estate consultancy Vestian, flexible office operators currently hold 67 million sq ft of prime office space, a figure expected to exceed 100 million sq ft by 2026. Meanwhile, Anarock MD-Commercial Leasing & Advisory Peush Jain noted that coworking’s share of gross office leasing in India’s top seven cities rose from 15% in 2019 to over 25% in 2023, though 2024 saw a slight dip to 21%.
Despite fluctuations, the demand for managed workspaces remains strong, driven by corporate flexibility, cost efficiency, and evolving work models. Enzyme Office Spaces’ latest deal with SUGAR Cosmetics is a testament to the sector’s resilience and the increasing preference for tailored office environments.
Leave a Comment
You must be logged in to post a comment.