Singapore-based Coliwoo Holdings Limited (“Coliwoo”) is acquiring the former Park Avenue Changi for SGD101 million. This translates to approximately SGD402,000 per key for the 251-key property. Coliwoo will acquire the leasehold interest in the strata lot from Singapore-based ESR-REIT Management (S) Limited’s (“ESR-REIT”), and convert it into a co-living property. The property forms part of ESR BizPark@Changi and includes ground-floor retail space. The property is strategically located within a five-minute walk of Expo MRT station, approximately 500 metres from the Singapore EXPO Convention and Exhibition Centre, with Changi City Point shopping mall within a five-minute walk and Changi Airport accessible via a 15-minute train ride.
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