Amazon Development Centre India has renewed its lease at Taurus 2 facility of Constellation Business Park in Bengaluru at an initial monthly rent of around ₹5 crore.
The development centres are the backbone of the US-based e-commerce giant, carrying out the software development and engineering for the company. These are the centres where its core activities take place to support its front-end retail and other operations.
The company is leasing 10 floors in the building spread over an area of 6.6 lakh square feet. The lease is for five years with the rental rate at ₹72.74 psf (per square feet) in the first two years, escalating to ₹83.65 psf in the last three years of the lease.
The company has been allotted 916 car parking slots at a rate of ₹2,875 each for the first three years and ₹3,306.25 each for the last two years, according to the lease details made available by Propstack.
The building, developed by Bagmane Developers, is located on the Outer Ring Road in Bangalore. The business park has been constructed on a campus area of 30 acres and other occupiers include Google, Qualcomm, Publicis and Redhat. Amazon already has a corporate office at the park in an adjoining facilities.
There is an option to renew the lease for a further period of five years, while Amazon also has the right of first refusal to buy the premises in case the developers intend to sell it.