Cubispace
75%
60-70%
occupancy rate through0ut the year
ABOUT CUBISPACE
IDENTIFYING THE PROBLEM
JSV is a renowned automobile group in Lucknow, with showrooms of Jaguar, Audi, and Hyundai, all at premium locations. Mr. Jatin, the owner of JSV group, met us with concern in his mind; under-utilization of his commercial properties.
All the automobile showrooms of the group had well-furnished standalone buildings. But, the concern arose because the IInd floor needed to generate more revenue. At the property, the ground floor is for showroom use; the basement & Ist floor is mostly used for an office. But, IInd floor was more like a revenue-eating burden, which needed to be monetized better & was a stressed asset for the owner.
DESIGNING A COWORKING SOLUTION
Propques’s experienced staff started putting together their minds to analyze the concern & to come up with a promising solution. We did proper research to find out that all JSV showrooms were in strategic locations, on the main road & near residential colonies.
Moreover, we know that after the COVID & lockdown, corporate is searching for nearby home offices. Especially the companies with HOs in metro cities are looking for micro offices on a hybrid model for their remote team. Flexible offices that are near residential areas were thumbs up for them.
Therefore, we suggested that Mr. Jatin start a flexible co-working space in his properties. On-ground execution of our plan started with the first center at Jankipuram, a hub for students, colleges, residential apartments & colonies. We developed that property with all the essential features of a micro office.
Everything was strategically developed in meeting rooms, training rooms, manager cabins, conference rooms, boutique offices & open seats. We also noticed the growing demand for day & night shifts in micro offices. Therefore, we considered it in our plan & developed the property for 24-Hour operations. It required a successful transformation of building facilities & features.
POSITIVE END RESULT
The center’s inauguration in March 2022 was a special moment; we witnessed the successful results of our efforts. Our analysis of adding the flexibility of day & night shifts in our co-working was a great revenue booster. By Dec 2022, the center occupancy passed the mark of 90%. And, the previous showroom building that expected per sqft rental of 30-40rs now saw a sharp rise to 88-93rs.
Promising results encouraged the owner, Mr. Jatin, to further expand his vision & earning. And he planned to absorb his other showroom buildings to this high-earning concept. Our expert team has started working on his vision by formulating an even more refined application of this revenue-generating concept.
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