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Perennial secures IWG as tenant at TripleOne Somerset to house 35,000 sq ft co-working space

PERENNIAL Real Estate Holdings on Wednesday evening said that it has leased over 35,000 square feet of space at TripleOne Somerset to IWG, a provider of flexible workspace solutions.

This will see the integrated office and retail development house IWG's Spaces - a lifestyle co-working space - across two floors.

The facility will be Spaces' largest when it commences operations in mid-2019, said Perennial in a release on Wednesday.

It added: "Spaces at TripleOne Somerset will host a wide variety of co-working spaces, meeting rooms, private offices, conferencing facilities and event spaces offering creative working environments."

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The facility will also include a business club that is accessible to Spaces' members globally.

TripleOne Somerset is currently undergoing a S$120 million enhancement programme, which will see it expand its retail offerings to include the incorporation of medical suites and renovation works to the office lobby and common areas.

"The new two-storey retail podium is expected to receive its temporary occupancy permit by H2 2018. The full suite of works is expected to be completed by 2019," Perennial said.

Perennial shares finished S$0.005 or 0.6 per cent lower at S$0.865 on Wednesday.