Milestone Ventures' 32nd Milestone now is 32nd Avenue
Milestone Ventures' 32nd Milestone now is 32nd Avenue

'32nd Milestone' -- the oldest and popular food and entertainment destination in Gurugram -- has been relaunched as '32nd Avenue' and will house 35 premium restaurants.

Realty firm Milestone Ventures has invested about Rs 25 crore to retrofit this property. It roped in property consultant CBRE South Asia as the leasing and marketing partner to reinvent the property as a specially curated high- street hotspot, offering a range of F&B (food and beverages) brands.

"We are relaunching the 32nd Milestone located on Delhi- Jaipur national highway. This will have 1.5 lakh sq ft area, apart from terrace area of 25,000 sq ft and lawn of 1.2 lakh sq ft," Milestone Ventures CEO Dhruv Sharma told reporters here.

Asked about the rental income, he said the area had been leased at guaranteed minimum rental and revenue sharing.

The 32nd Avenue will house a total of 35 premium restaurants, of which 15 will be opened in the first phase of the development -- by mid-December.

The old '32nd Milestone' had seven restaurants and a 50- room hotel, apart from facilities of a banquet hall.

 
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