Cadbury House In Mumbai To Be Sold For Rs.450 Cr

Cadbury House, the current headquarters of Cadbury India, is expected to be sold for Rs.450 Cr. The confectionery firm has already appointed Cushman & Wakefield for this.

Cadbury India has informed that it will sell its headquarters Cadbury House. The sale deed is to be fixed for Rs.450 Cr. Cadbury House is located on Pedder Road area in Mumbai.

Mondelez International’s Indian wing Cadbury India plans to move to some suburbs where the confectionery firm will gain some better office spaces. The confectionery firm has been operating from Cadbury House for over 50 years.

Now the decision to sell this iconic building that comprises Bournville Apartments and office space is considered as its plan to look for some new offices with better facilities and amenities. The top officials of the firm live in these apartments.

The firm feels that by securing an office slightly away from the city will help them enjoy better facilities at lower rates.

According to the experts, the sale deal would probably fetch them around Rs.450 Cr. The price is estimated on the basis of current market price in Mumbai.

There are eight stories in Cadbury House. The property lies in close proximity to Altamont Road area. This is one of the most posh areas in Mumbai.

Many industrialists and Bollywood celebrities are living in this area. Mukesh Ambani is one among them. His Rs.4500 Cr home Antilla is set on Altamont Road. Gautam Singhania and Kumar Mangalam Birla are other industrialists who reside in this location.

Cushman & Wakefield India has been appointed to look after the sale deal. The global property consultants will find out takers.

Commenting on the sale deal a Cadbury India spokesperson said that the firm is looking for another office. He added that the new office will not be very far away but will be in Mumbai.