The property was formerly Allepey Company, a coir (coconut fibre) trading company. The coir industry is centered in Alappuzha (formerly called Allepey) 40 miles south of Kochi and is the largest cottage industry in the State of Kerala, giving employment to over a million people. Coir from Kerala supplies over 60% of the global market for white coir fibre. Coir was delivered to the building from inland by small wooden boats via the Calvathy Canal where it was woven, stored and packed for international shipping from Cochin Port.

The venue has been loaned to Kochi-Muziris Biennale by Shri PM Siddique and is being developed as an events hall and hotel.