According to LHN, an earnest deposit of $260,000 and a further deposit of $1.29 million have already been paid. The balance of $24.25 million will be paid by CWL Properties at the close of the transaction.
LHN Limited is selling its stake in the company that owns 115 Geylang Road, for $25.8 million. 115 Geylang Road is where one of LHN’s hotels, Coliwoo Hotel Gay World, is located at. The property was one of the three co-living properties LHN Group put on the market for $120 million in October 2024. The group first acquired the property in 2021.
On May 21, LHN’s indirect wholly-owned subsidiary, Coliwoo Holdings, entered into a share sale and purchase agreement with CWL Properties, a company that is mainly engaged in real estate development activities. CWL Properties is 100%-owned by Chia Teo Meng.
