Warner Music India Private Limited has successfully secured a prime office space in Mumbai's bustling Oshiwara area from none other than Bollywood legend Amitabh Bachchan, according to sources.
The commercial premises, spanning 10,000 square feet on the 21st floor of the esteemed 'Lotus Signature' building, were acquired through a leave and license arrangement.
Under the terms of the deal, Warner Music India will pay license fees totalling a substantial ₹11 crore, accompanied by a security deposit amounting to ₹1 crore. The acquisition marks a strategic move for Warner Music India, positioning the company in a key location within the vibrant Mumbai business landscape.
It's worth noting that Amitabh Bachchan had acquired four office units in the Lotus Signature building in September of the previous year, making this transaction an interesting development.
Notably, other prominent figures from the film industry, including Kartik Aryan, Manoj Bajpayee, Sarah Ali Khan, Ajay Devgn, and Kajol, have also invested in office spaces within the same Lotus Signature tower.
This trend reflects a growing inclination among Bollywood stars to invest in commercial real estate due to its promising rental yields compared to residential properties.
Also read: Amazon India to shut down distribution unit after closing food delivery and learning platforms
First Published: Feb 16, 2024 7:18 PM IST
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