The Hindu Business Line : Accenture to finalise developer for built-to-suit facility

According to real estate industry sources, Accenture is looking to set up a software development and business process outsourcing centre in Chennai spreadover 5,00,000 sq.ft.

The company is in discussions with four developers, including a leading garment exporter from Chennai and one from outside the city. Accenture, through its real estate consultant, is in the final round of negotiations.

The centre will be a built-to-suit facility, which means that Accenture will give its specifications and requirements and let the developer come up with the building. The company will then lease the facility from the developer, according to sources.

The consulting firm wants to have the facility ready by the second quarter of 2005. Once completed, the facility will seat about 5,000 professionals. The first phase will be spread over 2,00,000 sq.ft.

Sources said lease rentals in Chennai for built-to-suit facilities now range from Rs 25 to Rs 52 a sq.ft. The lease rental at Tidel Park is Rs 52 per sq.ft.

Several companies setting up BPO operations opted for built-to-suit facilities rather than buying up space or leasing space in an office complex, sources said. With a built-to-suit facility, the BPO company need not worry about land acquisition, planning permission and other approvals. It need not spend money on construction, and can specify the features it wants in the building.

Accenture, for instance, wants more space for parking cars and two-wheelers than that specified by planning authorities. The Chennai Metropolitan Development Authority insists that one car-parking slot be provided for every 1,000 sq.ft. of built-up space. But Accenture, according to the sources, is looking for one slot for every 400 sq.ft. or 450 sq.ft. of built-up space.