In one of the biggest real estate deals in Bengaluru, Hindustan Coca Cola Beverages (HCCBPL), the largest bottling partner of beverage major Coca Cola India, has purchased 150,000 sq ft commercial space from Brigade Enterprises for an undisclosed sum.
The company will be consolidating various operations at Brigade Magnum, a new landmark commercial space coming up at Hebbal, one of the prime business localities on the way to Kempegowda International Airport. Though both the companies have not disclosed the deal value, sources have estimated it to be in excess of R70 crore.
The new office of Hindustan Coca Cola is spread over three floors at Brigade Magnum, which is under construction. Currently, HCCBPL’s operations are spread across different locations in the city. Around 250 people are currently working in HCCBPL’s Bengaluru offices. “Our multiple offices in Bengaluru will be brought under one roof,” a company spokesperson said.
The company will be shifting some of its key operations like financial shared services, legal department, public affairs and zonal office of Bengaluru at Brigade Magnum. Brigade enterprises, during their analyst call earlier this month, announced that they have sold 150,000 sq ft office space to HCCBPL at Brigade Magnum in Hebbal for shifting their head office from Gurgaon to Bengaluru.
“We have sold prime commercial space to Hindustan Coca Cola at our upcoming commercial project, Brigade Magnum for shifting their Indian head office. The project is under advanced stages of completion,” Vishal Mirchandani, CEO – Retail & Commercial, Brigade Enterprises told FE.
However, HCCBPL’s spokesperson clarified that their head office will remain in Gurgaon. “Hindustan Coca Cola’s Karnataka zonal office is already located at Bengaluru and various departments are operating from different locations in the city. They will all be consolidated in one place at Brigade Magnum,” the company spokesperson added.