Coliwoo opens River Valley property, its 14th in Singapore - sg.finance.yahoo.com

The River Valley property was acquired by LHN in February last year for $8.5 million.

Homegrown co-living operator Coliwoo has opened its 14th property in Singapore, Coliwoo River Valley 298. The four-storey co-living residence is located at 298 River Valley Road, and the property is zoned for residential with commercial at first storey.

Coliwoo is a co-living subsidiary under local real estate management services group LHN Group.

The newly opened 16-room co-living property is about 400m from Fort Canning MRT Station on the Downtown Line. The residential neighbourhood also comprises upmarket condos and houses along Oxley Road, Martin Place, and River Valley Close.

The rooms at Coliwoo River Valley 298 offer a queen-size bed, an en suite bathroom, a kitchenette, a wardrobe, a smart TV, a workstation and a washer-dryer.

The River Valley property was acquired by LHN in February last year for $8.5 million, and the company refurbished and repurposed the asset rather than redeveloping it.

The interior of Coliwoo's River Valley co-living property. (Picture: Coliwoo)

In a press release, LHN states that it is looking to expand its presence in locations with existing Coliwoo properties, such as Balestier Road and Lavender Street, as well as new acquisitions along Arab Street and Pasir Panjang. The company has also announced the acquisition of two mixed-use buildings — 286 and 288 River Valley Road — for $23.25 million last month.

“With many projects in the pipeline, Coliwoo is committed to providing potential tenants with a wide selection of properties to choose from based on their varying needs. Our offerings are synonymous with the brand, providing tenants with flexible lease terms,” says Chong Ching Yeng, Coliwoo’s chief commercial officer.

She adds that the company is hoping to meet the growing demand from young local tenants seeking independent living options such as co-living. “We have noticed that local couples are also opting to rent rather than purchasing their own flats.”

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