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A four-storey residential and commercial construction at 320 Balestier Road was around for about $18.1 million into Coliwoo Balestier, a direct wholly-owned subsidiary of LHN, a Singapore-based property management solutions team.
LHN plans to operate the house as a co-living area, enlarging the team’s portfolio of properties under its co-living company in Singapore.
LHN, during its subsidiary LHN Facilities Management, had previously developed a co-living property together with Hmlet, at Hmlet in Cantonment.
The mixed-use construction in Balestier contains two store units on the ground floor that are now tenanted. The second, third and fourth floors are vacant. It’s zoned for residential and commercial use, and isn’t gazetted for conservation.
“The land is particularly appealing to co-living operators, as a result of its own corner plot arrangement and its proximity to employment clusters like the Novena medical hub in addition to educational institutions like Curtin Singapore and St Joseph’s Institution,” states Karamjit Singh, CEO of Showsuite Consultancy.