LHN Limited subsidiaries buy $16m Beach Road property

One of the properties will be turned into the Group's new headquarters.

LHN Limited subsidiaries LHN SB 2 Pte. Ltd. and Coliwoo (BR) Pte. Ltd. have acquired properties at 75 Beach Road, worth a total of $16.8m.

The LHN SB 2 Pte. Ltd. purchased four units with prices ranging from $2.07m to $2.12m each, amounting to a total of $8.4m. Four other units, also combining for a $8.4m total value, were acquired by Coliwoo. .

The third and fourth floors of 75 Beach Road, acquired by the LHN SB 2 Pte. Ltd., will be used as the new headquarters of the Group; whilst the Coliwoo units at the fifth and sixth floors will be developed as a co-working and co-living space.

The subsidiaries paid a total of $2.7m to the Urban Redevelopment Authority for changing the permitted use of the acquired property.

The headquarters units and Coliwoo units have a total combined area of 1,012 square meters.

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