Office Spaces

Sometimes you need to know...

More than 750 office space leases in Mumbai are set to expire in 2016. 

According to PROPSTACK, a commercial real estate information and analytics company, the amount involved in the lease renewal, comprising 36 months average duration, will be around Rs 50 crore a month. Although 77% of 750 office space lease renewal are below 5,000 sq ft, the transactions range from as low as 500 sq ft to 2,35,000 sq ft.

Sectors like IT-ITeS and BFSI sector continue to dominate the leasing activity in Mumbai. “Mumbai has remained a financial capital hub where IT-ITeS and BFSI companies have continued to dominate the office space take-up. Last year BFSI, manufacturing and pharmaceutical sector played a major role in leasing apart from the technology firms. This trend is expected to continue in 2016 as well,” says Raja Seetharaman, director of PROPSTACK.

Raja acknowledged that the office rentals were at its peak in 2008 and since then the average rentals in key locations of Mumbai across all grade buildings have dropped. “The 35%-40% fall in the average rentals is spurred by softer market conditions and demand dearth in the first quarter of 2015,” he said.

“Office rentals are expected to remain nearly stable with 3-4% increase in certain key locations with low vacancies. However, at a city level, since a lot of large take-ups are happening in peripheral areas, weighted average rentals are expected to remain status quo,” Raja said.

The company further expects brokers to take home over Rs 300 crore a year from the aforementioned number of deals. “Considering that around 30% of renewals will be direct between the existing tenant and the landlord and at an average of 15-30 day brokerage; expected broker earnings just on renewals could vary from Rs 290 crore to Rs340 crore,” Raja observed.

 

Pause Wines-Life Can Wait

Shiraz.

For all those who know not, is a wine produced from the Shiraz grape.

And well, in India,the best grapes grow in and around Nasik, Maharashtra. Therefore,all premium vintners (those who make wine) are based around here.

So when a Mumbai based Vintner asked if they could send me a bottle of their prize winning Shiraz, how could I refuse.

I have dabbled in wine...

But I must confess that a sommelier,I am not.

I know my reds from my white. I know a white wine must be chilled,whereas a red wine may be had at room temperature. 

I know you must swirl the wine in the glass and catch the whiff of the aromas it has immersed in each drop.

And I know that I must simply not gulp it down, but swirl it around my mouth too.

Well for someone who appreciates a pint of beer , and why an expensive Vodka doesn't need a juice and has just discerned why single malt is worth every rupee you pay for ...wine never figured in the must try list.

Oh, we've done the polite one glass of wine stuff...but never with the intent to appreciate it for what it was.

So this bottle arrives at my door,just when the food delivery guy brought I the tandoori chicken.

And I do know that spicy Indian cuisine is perfect with Red Wine. 

Pinot Noir to be precise.(Googled it)

So we open this bottle.

And poured out a glass.

And that food blogger curse...photo before food.

And the mandatory swirl and sniff and swigs in the mouth...

So, I have the last glass beside me...
Right now.

And it is tangy.

It smells of fruit and summer and dry skies.

It's a deep purple red.

The alcohol content is 13%, which is more than the strongest beer.

And it pairs well with tandoori chicken.
And other spicy Indian food. The wine should be cold ,but not chilled.  That made the taste better.

It doesn't leave a sour after taste.

The information provided by www.pausewines.com on this Shiraz and a wide array of other beautiful sounding wines.

At Rs675 for 750mils and Rs350 for 375 mils , the wine is not too expensive.

It's a lovely experience in every sip.

I'm not an  experienced wine drinker, but I was happy...am happy.

And the sommeliers have awarded this a Silver Medal at the 2009 SIWC.

So pick up that bottle of Shiraz Pause Wines from that aisle in the Liquor store -and if someone brings it to your home, open it and serve it for dinner.
Or maybe, just enjoy it yourself.
You deserve some special time and wine for yourself.

Whatever else may be there in store for you.

Life can wait.