As far as the properties are concerned, we can safely say that Singapore is in quite some luck right now and justifiably so. The co-living company, known by the name of Hmlet, has decided to stretch its realms and accommodate the heritage properties located in Tiong Bahru. After including these assets, Hmlet’s present configuration in Singapore shows that it manages a total of 48 properties that comprises of more than 1,000 rooms.
The latest apartments that are essentially walk-up and have loft conversions are spread over 18,000 square feet and across seven locations namely, Tiong Bahru Road, Hoot Kiam Road, Zion Road, Chan Yan Street, Moh Guan Terrace, Guan Chuan Street, and Tiong Poh. More so, these apartments will be rendered as studios and one-bedroom and two-bedroom units along with a courtyard and kitchen for each and communal areas. In the press release on February 6th, 2020, Hmlet confirmed that some of the 80 rooms that are being targeted to be made available for procurement have been already inaugurated on the firm’s platform.
According to the CEO of Hmlet, this project will majorly influence the brand’s community for the better and resultantly, expand it by furnishing its members with superior flexibility and wider business options that lay in close to the central business district. He added that Hmlet is looking forward to endowing these properties with new lease terms in order to leave a positive impression on the already scintillating community of Tiong Bahru. As per the delineations of Singapore-based Hmlet, they first collaborate with the landlords to diligently analyze the properties that have not been optimally utilized and undergoing renovations to outline profitable designs for the buildings.
This venture of Hmlet is not its first one for the community. Last year, the firm launched properties in the areas of Hmlet Yong Siak and Hmlet Echelon and with the addition of Tiong Bahru, it can be inexorably asserted that it has only Hmlet strengthened the label’s presence. The chief objective of Hmelt is to do their bit for the convenience and enhancement of the local community and with these new units ready to be leased out, it is continuing to comply with its visions of the redevelopment of the heritage buildings that were isolated for so long.
Coming to its former works of development, in September 2019, Hmlet rolled out 150-room Hmlet Cantonment that was originally positioned around Keppel Primary School before being transformed and taken over by the Corrupt Practices Investigation Bureau headquarters. Currently, Hmlet has confirmed that the occupancy rate of this area has amounted to 90%. Taking all these figures and units into consideration, Hmlet is operating more than 100 plots in Singapore, Australia, Hong Kong, and Japan since it came into being in 2016. In July 2019, Hmlet raised somewhat about US$40 million through a Series B financing round that was headed by Bruda Principal Investments with involvement from their prevailing investor Sequoia India and the new members Reinventure Group, Mitsubishi Estate Co and angel investors.
Refer to webpage below for more information,
https://www.straitstimes.com/business/property/hmlet-launches-more-co-living-properties-in-tiong-bahru
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