As per the sources available with www.propertykhazana.com, Hindustan Unilever Ltd. (HUL) had strived to redevelop its marker Brooke field’s property in Bangalore in Whitefield. This time the plan was to co-develop 26.5 acres of land into IT SEZ and the company’s total auxiliary was Brooke Bond property and called for the bids for joint-development and the property was leased to the co-developers. Companies like Cognizant, TCS, Goldman Sachs, HP and many Realty companies are keen in associating with HUL. Those companies which were not having ability in realty were in talks with the developers for the project and HUL is likely to have talks with the realty agencies including Tishman Speyer and Cushman & Wakefield to find the associates for the venture.
CMD of Salarpuria Sattva Group Bijay Agarwal speaking to www.propertykhazana.com confirmed that they are in conversation with HUL and told, “A crowd of realty companies are discussing with HUL and originally, cash outflow will not be very high for co-developers because of readily available property. Developers will also get an equity investment in the venture.” In 2006-07 HUL had attempted to release the price of the land and Ramkumar Ramamoorthy V-P of Corporate Marketing Research and Communication at Cognizant refused the company was interested in taking part in the venture. The company representative said that, “We had received SEZ endorsement for this site and now assessing another choice to carry on further.” Later it was said that it is hunting at an absolute auction and the property was fixed when the Brooke Bond India moved its foundation from Bangalore to Kolkata in middle 80’s and then approached to HUL crease when it purchased Brooke Bond. And it was abode HUL’s foods trade but most of that business was shifted to Mumbai in 2006.
Source: NIMMA BENGALURU
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