Julius Baer leases 74,037 sq ft office space in Mumbai’s Andheri

MUMBAI: Swiss private bank Julius Baer Global Enterprise Services (India) has picked up over 74,037 sq ft of office space in Mumbai’s western suburb Andheri East through a 60-month lease at Waterstones Business Park.

The fresh lease, which commenced on May 1, 2026, has been signed with Brookfield-owned Striton Properties for the seventh floor of the commercial development. The transaction involves a built-up area of 41,461 sq ft and a chargeable area of 74,037 sq ft.

The office space has been leased at a monthly rental of Rs 209 per sq ft, translating into a monthly rent of Rs 1.55 crore. The total rent payable over the 60-month tenure is Rs 102.6 crore, showed property registration data accessed through Propstack, a realty data analytics platform.


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The lease also includes an annual escalation of 5%. Julius Baer has paid a security deposit of Rs 12.38 crore for the premises. For Julius Baer, the latest transaction represents a significant five-year office commitment in one of Mumbai’s key commercial locations.

ET’s email queries to Julius Baer and Brookfield remained unanswered until the time of going to press.

Waterstones Business Park is a commercial development in Andheri East, part of Mumbai’s Airport Road office district. The property is developed and managed by Brookfield and comprises office space along with hospitality and other amenities.

The transaction comes amid sustained demand for Grade A office space in Mumbai from financial services companies, global firms and other large occupiers. Andheri East has remained one of the city’s established office markets, supported by its proximity to the Mumbai airport and connectivity to the Western Express Highway, Eastern Express Highway and metro network.

The transaction comes at a time when India’s office market is witnessing sustained demand from global capability centres (GCCs), financial services firms, technology companies and other large occupiers.

Office leasing has remained strong across major markets, supported by expansion of global firms, demand for higher-quality Grade A space and consolidation into larger workplaces. The strength of occupier demand has also encouraged companies to make longer-term commitments across established office markets while emerging commercial districts continue to gain traction as India’s formal office stock expands.