Portfolio of three freehold co-living properties on sale via EOI

The portfolio has a guide price of $120m.

JLL announced the sale of a portfolio of three freehold co-living properties across various districts in Singapore via expression of interest (EOI).

The properties are located at 115 Geylang Road, 471 Balestier Road, and 404 Pasir Panjang Road. The properties can be acquired individually or collectively as a portfolio with a guide price of $120m.

The 115 Geylang Road property spans 305.6 square meters (sq m), with a gross floor area (gfa) of 922.18 sq m. Its ground floor is currently tenanted by a restaurant.

The 471 Balestier Road property spans 366.1 sq m with a gfa of 1,107.88. It has a provision for a retail space on the ground floor.

Both properties are under a master lease with the existing co-living operator.

Meanwhile, the property at 404 Pasir Panjang Road has a site area of 1,544.6 sq m and a gfa of 2,452.26, with commercial space on the ground floor. It is offered with the flexibility of vacant possession or master lease with LHN's Coliwoo co-living.

In addition, all three properties are newly renovated and are located near amenities such as shopping malls and various F&B options. 

“Investor sentiment towards Singapore’s co-living market remains positive, driven by strong demand for flexible living spaces and the city’s growing appeal to young professionals and expatriates. Additionally, the sector has experienced strong occupancy rates, with rental rates normalizing as the market matures and stabilizes,” Tan Ling Wei, Vice President for Investment Sales at JLL Hotels & Hospitality Group Singapore said.