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A co-working space company has entered into a six-year lease contract for an entire building at 139 Cecil Street.
In an SGX filing, Vibrant Group, which owns a stake in property owner Ececil, revealed that the 11-storey building is currently undergoing major alteration works that will see five floors added to the property.
Set to be operational by mid-2019, the property will feature “retail outlets on the ground floor, as well as a communal roof terrace space that will have facilities such as a gym, pool and a club” upon completion of renovation works.
While Vibrant did not divulge the name of the co-working space operator, previous reports identified that tenant as Campfire, marking the Hong Kong-based firm’s debut in Singapore, said the Business Times.
Ececil is 40 percent owned by a joint venture (JV) between DB2 Group and Vibrant, with the latter holding a 51 percent stake in the JV company, while the remainder was acquired in 2016 by a Shanghai-based family.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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