BT EXCLUSIVE

RedMart to occupy honestbee's former habitat site

GROCERY delivery service RedMart is set to occupy the first floor of 34 Boon Leat Terrace, the property which previously housed honestbee’s concept supermarket habitat, The Business Times has learnt from sources.

BT understands that RedMart plans to use the space as a fulfilment centre for deliveries in the south of Singapore. When reached for comment, RedMart’s parent company Lazada confirmed that it will be leasing the space. 

This marks the end of the road for habitat, which honestbee had once touted as its crown jewel when it opened in 2018. The supermarket was also key to honestbee’s attempt to restructure US$230 million worth of debt last year.

Spanning 60,000 square feet, the supermarket featured high-end groceries and eateries. As BT previously reported, it was also decked with expensive furniture and fine art, including a Roy Lichtenstein painting and a sculpture said to have been bought for S$185,000. 

On July 20, the Singapore High Court issued honestbee a winding-up order, based on the application of creditor Benjamin Lim Jia-Rong, whom the startup owes some US$3.8 million. According to a notice on the Government Gazette, all creditors of honestbee are to file their proof of debt with liquidators from BDO Advisory.

Separately, the personal residence of honestbee’s head honcho Ong Lay Ann has been listed for sale at S$4.5 million on property portal PropertyGuru. Mr Ong said the property is owned by his wife.

When reached for comment, Mr Ong said that the sale is a personal decision and has nothing to do with ongoing proceedings at honestbee.

He added that while he remains a director at honestbee, the liquidators are taking charge of the company’s winding-up process, and he has no role other than to assist them if needed.