honestbee may be in the thick of rebuilding its fallen house, but it is also eyeing a real estate play. The startup plans to sub-lease about half of its Delta House office space for co-working, pending approval from its landlord. Its CEO Ong Lay Ann said that the co-working space, called b. at Delta, would be able to seat up to 100 tenants. It would comprise hot desks, dedicated desks and a private office. The target market is other startups. It is still early days, with the startup ironing out pricing plans. “We have no plans to be a WeWork,” Mr Ong added. “We are not going to lease another 10 properties and go into that business. I’m just trying to utilise existing resources we have and make those resources work a little harder.” HE said that honestbee, which is now restructuring over US$209 million worth of debt, plans to keep its Delta House office for the long haul, which is why it is prepared to sub-lease the space. BT understands from previous filings that honestbee spends about S$125,000 in rentals monthly.... Continue Reading