LHN Group transforms underutilised buildings into modern spaces
The company has converted unused spaces into almost 2,000 co-living rooms.
After seeing how land scarcity has affected the real estate market in Singapore, LHN Group began recycling unused or underutilised properties and turned them into usable productive spaces. In simpler terms, this process is called "space optimisation."
"Space optimisation includes the identifying of all underutilised buildings and repurposing them into modern usages and modern layout," LHN Group's Executive Chairman & Group Managing Director Kelvin Lim told Singapore Business Review in a video interview.
"Usually, we identify old buildings with nice character and then we try to reorganise the layout and make the old building alive. Through the thoughtful space-saving design, we maximise the property's efficiency, so that the property can accommodate more tenants," he added.
In the case of LHN, the company converts unused spaces into co-living or work-storage buildings.
So far, the company has launched almost 2,000 rooms for their co-living segment called Coliwoo and has built self-storage spaces across 10 locations under its Work+Store brand.
When optimising spaces, Lim said LHN makes sure that "every square foot counts" in the property.
"For example, we utilise the spacious lobby or corridors in our Work+Store storage facility to create communal facilities such as a breakout area, shared live streaming studio, stacking stations, or discussion booths," Lim said.
"We utilise open space in co-living space for urban farming to create a self-sustaining living environment," Lim added.
Apart from addressing land scarcity, Lim said LHN Group's space optimisation offering also helps Singapore in reaching its net-zero target.
"Most of our co-living locations are in the city fringe so you can walk or cycle to work. That actually helps to reduce carbon footprint," Lim said.
In addition, LHN Group installs solar panels on the roof of the properties they optimise, including the building of its subsidiary LHN Energy Resources.
Above all, Lim said space optimisation will benefit property buyers.
"It can provide the right space for tenants at every stage of their business growth. The tenants can also have the flexibility to switch between locations-based concepts or space sizes whenever there is a need," Lim said.