reporter2
28-09-21, 17:57
Balestier Hotel sold for $15 mil
September 24, 2021
https://i.imgur.com/ExjWnkC.jpg
SINGAPORE (EDGEPROP) - Coliwoo Holdings and Four Star have formed a joint venture (JV) to acquire Balestier Hotel for $15 million. The JV partners have announced that the acquisition of the hotel property is intended for the running and operation of a co-living hotel.
Coliwoo Holdings is an indirect wholly owned subsidiary of LHN Group, while Four Star is a separate joint venture equally owned by Singapore Handicrafts, a wholly owned subsidiary of LHN Group, and W&S Star, an independent company.
Coliwoo Holdings will control 40% of the new JV company while Four Star will control the remaining 60%. The co-living hotel will operate under LHN Group’s Coliwoo brand, a co-living business that runs more than 800 rooms in Singapore in areas such as Balestier, Boon Lay, and Bukit Timah.
Read more at: https://www.edgeprop.sg/property-news/balestier-hotel-sold-15-mil
September 24, 2021
https://i.imgur.com/ExjWnkC.jpg
SINGAPORE (EDGEPROP) - Coliwoo Holdings and Four Star have formed a joint venture (JV) to acquire Balestier Hotel for $15 million. The JV partners have announced that the acquisition of the hotel property is intended for the running and operation of a co-living hotel.
Coliwoo Holdings is an indirect wholly owned subsidiary of LHN Group, while Four Star is a separate joint venture equally owned by Singapore Handicrafts, a wholly owned subsidiary of LHN Group, and W&S Star, an independent company.
Coliwoo Holdings will control 40% of the new JV company while Four Star will control the remaining 60%. The co-living hotel will operate under LHN Group’s Coliwoo brand, a co-living business that runs more than 800 rooms in Singapore in areas such as Balestier, Boon Lay, and Bukit Timah.
Read more at: https://www.edgeprop.sg/property-news/balestier-hotel-sold-15-mil