Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
The leasehold home has a 60 years lease term approved by JTC, starting from February 1984. It covers a land area of 2,652 sq m (28,547 sq ft) and a built-up area of concerning 6,618 sq m (71,236 sq ft).
Back in September 2025, the subsidiary HPF had actually exercised the choice to acquire the balance of the contract of the property, settling a deposit of $559,520 to the company, Chutex Holdings. The balance consideration of $13.29 million was to be paid upon finalization of the transaction.
This was complied with by the procurement of 4 Tuas South Street 11, named Beryl House, in November 2024. Sitting on a 107,643 sq ft site, this consists of a four-storey single-user detached warehouse and a 408-bed secondary dormitory, according to Aedge’s website.
This becomes part of the team’s extended development program to branch out and produce recurring income, according to a June 30 bourse filing by Aedge. The Singapore-listed company provides engineering, security and safety, workforce, and transportation services, and also contracts out its investment properties for leasing income.
” At an appropriate chance in the future”, Aedge will additionally explore investment enhancement efforts to repurpose the facility to suit the team’s future needs.
Poh Soon Keng, executive director and chief executive officer of the team, said: “Industrial estates such as this one assist our core engineering and working needs, whilst the more lettable area provides a steady income stream that complements the project-based income from our other service segments.”
The purchase price remains in line with the independent appraisal of $14 million.
HPF Holdings, a 51%- managed branch of Aedge Group, has actually finished the purchase of the industrial building located at 219 Kallang Bahru for $13.99 million.
In its newest submission, Aedge noted that this acquisition strengthens its presence in recurring-income realty.
The 219 Kallang Bahru real estate are going to be generally for the group’s very own usage, with the remaining area tenanted out for recurring income.
This is the group’s 3rd industrial property acquisition. In October 2023, Aedge finished the acquisition of 9 Tuas South Street 11, called Amethyst House. Throughout nearly 80,000 sq ft of land, it serves as additional warehouse space sustaining the development of the engineering business and now likewise houses a 299-bed secondary employees’ dorm room.
