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ACQUISITION OF THE BALESTIER PROPERTY for $18.1m
The Balestier Property is located at 320 Balestier Road, Singapore 329924, comprising of a four-storey corner building, with a total land area of approximately 406.7 square meters. The first floor of the Balestier Property has been leased to the tenant by the Vendor with a tenancy term of two years from 10 July 2020 to 9 July 2022, for which all Vendor’s rights and benefits will be assigned to the Purchaser on the Completion Date. The second, third and fourth floors will be delivered with vacant possession.
The Group intends to operate the Balestier Property as a co-living space. As such, the Balestier Acquisition will expand the Group’s portfolio of properties under the co-living business in Singapore, increase the brand value of COLIWOO, provide potential capital appreciation to the Group and provide additional opportunities to generate revenue.
https://links.sgx.com/FileOpen/20200916%...eID=631934
Stay home and stay safe, everyone.
The Balestier Property is located at 320 Balestier Road, Singapore 329924, comprising of a four-storey corner building, with a total land area of approximately 406.7 square meters. The first floor of the Balestier Property has been leased to the tenant by the Vendor with a tenancy term of two years from 10 July 2020 to 9 July 2022, for which all Vendor’s rights and benefits will be assigned to the Purchaser on the Completion Date. The second, third and fourth floors will be delivered with vacant possession.
The Group intends to operate the Balestier Property as a co-living space. As such, the Balestier Acquisition will expand the Group’s portfolio of properties under the co-living business in Singapore, increase the brand value of COLIWOO, provide potential capital appreciation to the Group and provide additional opportunities to generate revenue.
https://links.sgx.com/FileOpen/20200916%...eID=631934
Stay home and stay safe, everyone.