LHN procures River Valley asset for $23.25m

The property consists of 12 units an a total land area of 388.4 sq.m.

LHN has acquired two River Valley properties for $23.25m, with plans to convert them to a serviced residence and/or hotel under the Coliwoo brand.

The property is located at 286 River Valley Road, consists of 12 units and has a total land area of 388.4 sq.m. and are estate in fee simple properties.

According to LHN, the aquisitions will expand the Group’s portfolio of properties under its residential business in Singapore, increase the brand value of COLIWOO, provide potential capital appreciation to the Group, and provide additional opportunities to generate revenue.

The purchase of the property is expected to be completed in 10 weeks after the date of the option to ourchase on 4 October.

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