SINGAPORE (EDGEPROP) - Singapore-listed LHN Group has announced it is acquiring a property located at 48 Arab Street for $6.39 million.

Read also: LHN Group acquires Pasir Panjang Inn for $30 mil

In a Singapore Exchange filing on Sept 23, the group disclosed that its wholly-owned subsidiary Coliwoo West had entered into the option to purchase the property with seller Chamber Investment Holdings on Sept 23.

The property has a total land area of 1,323 sq ft with a remaining lease of approximately 29 years. The seller is currently using it as a backpacker hostel.

According to LHN, the property will be purchased with vacant possession. Through its Coliwoo co-living brand, the group intends to operate the property as a co-living space. The purchase of the property comes on the heels of LHN’s acquisition of Pasir Panjang Inn, a hotel located at 404 Pasir Panjang Road, for $30 million, which the group announced on Sept 16.

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