LHN Group signs lease agreement for 2 Mount Elizabeth Link

By
/ EdgeProp Singapore
|
November 30, 2021 9:08 PM SGT
The tenancy of the property will be recognised as right-of-use assets for an amount of approximately $11.3 million.
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SINGAPORE (EDGEPROP) - Real estate management firm LHN Group has announced that it has entered into a three-year Lease Agreement for a residential property at 2 Mount Elizabeth Link. Its wholly owned subsidiary Erinite Properties signed the lease with the landlord Eastern Realty on Nov 29.
The lease term commences on Dec 1, with a tenancy period of 15 years in total. The tenancy of the property will be recognised as right-of-use assets for an amount of approximately $11.3 million.
The property is a 22-storey building with 72 residential units and the site features a basement carpark. Amenities found in the development include a swimming pool, a spa pool, a children’s play area, a barbeque area, a gym, and landscaped gardens.
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LHN says that it intends to renovate the property and operate it as a serviced apartment under its co-living brand Coliwoo. Rooms will be renovated and configured to create dual and triple room units as suitable co-living spaces, they add.
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