UK's MLS group to develop business centres
20 Feb 2007
Chennai: The UK-based operator of business centers, MLS Group, has plans to invest around Rs25 crore to develop business centres in five Indian cities. MLS was formed in 1998 to serve a niche in the marketplace and operates affordable, high quality serviced office buildings in Central and Greater London, as well in other key UK cities and international locations.
The UK-based company focuses on the SME sector by providing functional workspaces tailored to the individual requirements of its clients.
Its wholly owned Indian subsidiary MLS Business Centres India Pvt Ltd recently launched its first business centre in Chennai, spread over 33,000 sq.ft, across seven floors at an investment of around Rs4.5 crore.
According to S Sridhar, director, India Operations, the company is open to let-out the space fully or on a per desk basis. "Each desk space requires around 75sq.ft, including space for mobility, etc. We expect to earning anything between Rs14,000 to Rs20,000 per desk depending on the services availed by the leasee."
Another 15,000-sq.ft centre will be ready during the third quarter of this year. "By 2008-09 five centres will be operational. The company will open business centres in Mysore, Coimbatore, Hyderabad, Pune and Chennai.