Food and beverage firm LES, which clinched the tenancy for the former Alkaff Mansion at Telok Blangah Green last week, expects to invest S$5 million in the project.
This is almost five times more than analysts’ projections.
Its top bid of S$79,251 in rent per month for the property beat eight other contenders in the tender by the Singapore Land Authority.
In a statement, LES said the former Alkaff Mansion will be transformed into an elegant casual dining Italian restaurant.
About 80 staff will be hired to run the F&B operations.
LES said its three shareholders include LHN Lifestyle, chef Kenji Tanaka Salz and chef Gabriele Piegaia.
LHN Lifestyle is a wholly-owned subsidiary of LHN Group which specialises in space resource management.
The company said the managing director of LHN Group, Mr Kelvin Lim, will assume the position of chairman in LES.
Mr Lim will take charge of strategic planning and overall direction of LES.
Meanwhile, chef Salz who is presently working at the Four Seasons Hotel as the executive chef, will take on the position of Chief Executive Officer at LES.
The third shareholder, chef Piegaia will be LES’ executive chef.
Chef Piegaia is currently the Executive Sous Chef for a restaurant at Resorts World Sentosa.
LES said the revamped property is expected to open towards the end of this year or early next year.
Source: Channel News Asia, 21 Jun 2010