Coliwoo Holdings Limited Announces S\$101 Million Strategic Hotel Acquisition at Changi Business Park

Key Highlights of the Acquisition

• Acquisition Target: Coliwoo Holdings Limited, via its wholly-owned subsidiary Coliwoo Project Ace Pte Ltd, has entered into a put and call option agreement to acquire the leasehold estate of a hotel strata lot (including retail units) located at 2 Changi Business Park Avenue 1, Singapore 486015.
• Purchase Price: The acquisition price is set at S\$101,000,000 (excluding GST).
• Property Details: The property is situated within ESR BizPark @ Changi and comprises a hotel block with over 250 rooms and retail space on the ground floor.
• Vendor: The vendor is Perpetual (Asia) Limited, acting as trustee for Viva Trust, a wholly-owned sub-trust of ESR-REIT.
• Lease Structure: The lease will be registered with the Singapore Land Authority, with an initial term expiring one day before the ESR BizPark @ Changi lease with JTC Corporation ends (30 years from 1 February 2008), plus an option to renew for another 30 years, subject to certain conditions.
• Option Fee: 10% of the purchase price (S\$10,100,000) was paid upon execution of the agreement, funded from IPO proceeds.
• Completion: The balance 90% of the purchase price (plus GST) is payable upon completion, subject to any adjustments.
• Long Stop Date: The transaction must be completed by 31 March 2026, or another date mutually agreed upon.
• Vacant Possession: Vendor will deliver vacant possession of unoccupied parts of the property at completion.

Strategic Rationale and Implications for Shareholders

Coliwoo’s Business Model: Coliwoo specializes in acquiring or leasing underutilized properties and transforming them into contemporary co-living spaces under the ‘Coliwoo’ brand, or leasing to third-party operators. The group also offers property enhancement and management services. This acquisition is consistent with Coliwoo’s strategy to expand its portfolio of co-living properties.

Use of IPO Proceeds: The initial option fee of S\$10.1 million was funded using proceeds from Coliwoo’s IPO, specifically earmarked for the expansion and growth of its co-living business. The updated breakdown of IPO proceeds utilization is as follows:

• Expansion and asset enhancement through leased properties: S\$40 million allocated, S\$4.687 million utilized, S\$35.313 million balance
• Expansion and asset enhancement through owned/joint venture properties: S\$34 million allocated, S\$14.885 million utilized, S\$19.115 million balance
• Repayment of loans: S\$12 million allocated, S\$6.36 million utilized, S\$5.64 million balance
• General working capital: S\$10.213 million allocated, S\$3.18 million utilized, S\$7.033 million balance
• Listing expenses: S\$4.767 million allocated and fully utilized

The company confirms that the usage aligns with its stated IPO prospectus.

Financial Impact: At this stage, the acquisition is not expected to have a material impact on the Group’s consolidated net tangible asset per share or consolidated earnings per share for the financial year ending 30 September 2026.

Potential Price-Sensitive Information for Investors

• This acquisition marks a significant expansion of Coliwoo’s co-living asset base, potentially enhancing future revenue streams if successfully repositioned or managed as a co-living space.
• The strategic location at Changi Business Park may provide access to a large pool of working professionals and expatriates, supporting higher occupancy and rental yields.
• Utilization of IPO proceeds for the acquisition demonstrates active capital deployment and commitment to growth, which could be viewed positively by investors.
• No director or substantial shareholder has any interest in the acquisition other than through their respective shareholdings.
• The transaction, if completed as planned, could be a catalyst for future growth; however, any delays, regulatory hurdles, or failure to secure JTC’s agreement could impact completion.
• Further announcements will be made as material developments arise and periodic updates on IPO proceeds utilization will be provided.

Additional Information for Shareholders

A copy of the Put and Call Option Agreement is available for inspection at Coliwoo Holdings Limited’s registered office for three months from the date of the announcement.

Maybank Securities Pte. Ltd. acted as Issue Manager and Global Coordinator for Coliwoo’s IPO and listing on SGX Mainboard.

Conclusion

This acquisition is a strategically significant event for Coliwoo Holdings Limited, demonstrating the company’s growth ambitions and its ability to deploy capital raised from the IPO into accretive assets. The successful completion and integration of the hotel property into Coliwoo’s portfolio could have positive implications for future revenue and asset values, potentially impacting share price over the medium term.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with professional advisors before making investment decisions. The information above is based on company disclosures as of 30 January 2026 and may be subject to change.

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