Lhn Group Puts Three Co Living Properties Market 120 Mil
LHN Group, a real estate company, has recently put three of its co-living properties on the market for sale. These properties, located at 115 Geylang Road, 471 Balestier Road, and 404 Pasir Panjang Road, are being offered as part of an expression of interest exercise with a guide price of $120 million. JLL, a real estate firm, is handling the sale and potential buyers have the option to acquire the properties individually or as a portfolio.
According to JLL, all three properties are freehold and have been recently renovated. The property at 115 Geylang Road has a land area of approximately 3,289 sq ft and a gross floor area of 9,926 sq ft. It is currently being managed by co-living operator Habyt under a master lease arrangement. LHN purchased the property in 2021 for $13.5 million and operated it as Coliwoo Hotel Gay World before transferring management to Habyt. The property is currently operating as Habyt Kallang.
Similarly, the property at 471 Balestier Road, which was acquired by LHN for $15 million in September 2021 through a joint venture with Four Star, offers 39 rooms and a retail unit on the ground floor. It has a land area of 3,941 sq ft and a gross floor area of 11,925 sq ft. The property is also currently managed by Habyt and operating as Habyt Novena.
The largest property of the three is located at 404 Pasir Panjang Road, with a land area of 16,626 sq ft and a gross floor area of 26,396 sq ft. It includes a commercial unit on the ground floor and is being offered for sale with vacant possession or with a master lease with Coliwoo, LHN’s co-living brand. The property was acquired by LHN in September 2022 for $30 million and opened as Coliwoo Hotel Pasir Panjang in December 2023.
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LHN Group has been actively expanding its co-living portfolio and eyeing partnerships to support the growth of its brand Coliwoo. With the sale of these three properties, the company aims to continue its expansion plans in the co-living market.