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UBS Business Solutions India has leased an entire commercial office tower in Pune's Yerwada area under a long-term agreement valued at over INR 263 crore. The company has taken a fully managed and furnished workspace spanning about 165,290 sq ft at Tech Park One, with seating capacity for nearly 1,520 people. The lease reflects continued demand from global financial services firms for ready-to-use office spaces in Pune, particularly in well-connected micro markets such as Yerwada's Airport Road corridor.
UBS Business Solutions India, the Indian arm of global financial services group UBS, has entered into a long-term lease for a full commercial office tower in Pune's Yerwada micro market. The total rental commitment under the agreement stands at more than INR 263 crore, highlighting sustained occupier demand for large, managed office spaces in the city. Advertisement
The company has leased a managed office facility at Tech Park One, located on Airport Road in Yerwada. The leased premises cover approximately 165,290 sq ft, spanning from the ground floor to the seventh floor of the building. The space has been planned to accommodate around 1,520 seats, supporting UBS's operational requirements in the city.
The lease has been executed under an enterprise office services model with Smartworks Coworking Spaces. As per the agreement, UBS will pay an initial monthly rent of about INR 240 per sq ft, with an annual escalation of 5 percent over the five-year lease term. The arrangement commenced earlier this year, marking one of the larger managed office leasing transactions in Pune in recent months.
In addition to the rental outgo, UBS has provided a security deposit equivalent to six months rent, amounting to roughly INR 23.8 crore. The agreement also grants the company external signage rights on the building, a feature typically sought by large occupiers for brand visibility.
The lease structure includes a lock-in period of 60 months for Smartworks, while UBS has a lock-in of 30 months. This provides a balance between revenue stability for the workspace operator and operational flexibility for the occupier. The fully furnished nature of the office allows UBS to avoid upfront capital expenditure on fit-outs and enables quicker occupancy.
Yerwada's Airport Road area has steadily emerged as a preferred office location in Pune due to its proximity to the airport, established IT and commercial hubs, and improving connectivity to areas such as Kharadi and central Pune. Over the past few years, the corridor has seen growing interest from global capability centres, banking and financial services firms, and technology companies seeking scalable office solutions.
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