Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
Back in September 2025, the subsidiary HPF had actually exercised the option to buy the balance of the lease of the property, settling a deposit of $559,520 to the seller, Chutex Holdings. The balance consideration of $13.29 million was to be paid upon completion of the purchase.
This belongs to the team’s long-term growth program to expand and produce recurring income, according to a June 30 bourse filing by Aedge. The Singapore-listed firm offers engineering, safety and security, workers, and transport assistances, and also rents out its investment properties for rental revenue.
Poh Soon Keng, executive director and CEO of the team, stated: “Industrial estates such as this set assist our core engineering and working demands, while the more lettable room gives a steady revenue stream that goes with the project-based revenue from our other service sectors.”
The leasehold home has a 60 years lease term granted by JTC, starting from February 1984. It spans a land area of 2,652 sq m (28,547 sq ft) and a built-up area of regarding 6,618 sq m (71,236 sq ft).
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This is the group’s 3rd commercial building procurement. In October 2023, Aedge finished the acquisition of 9 Tuas South Street 11, named Amethyst House. Throughout almost 80,000 sq ft of land, it serves as extra warehouse space supporting the growth of the engineering business and now likewise houses a 299-bed secondary workers’ dorm room.
The 219 Kallang Bahru property will be mostly for the team’s very own use, with the standing room tenanted out for recurring earnings.
The acquisition cost is in line with the independent appraisal of $14 million.
” At a proper chance in the future”, Aedge will additionally explore property enhancement campaigns to repurpose the building to fit the team’s future demands.
In its most current declaration, Aedge indicated that this purchase deepens its visibility in recurring-income property.
HPF Holdings, a 51%- owned subsidiary of Aedge Group, has actually carried out the procurement of the commercial establishment located at 219 Kallang Bahru for $13.99 million.
This was complied with by the procurement of 4 Tuas South Street 11, called Beryl House, in November 2024. Settling on a 107,643 sq ft site, this includes a four-storey single-user detached warehouse and a 408-bed secondary dormitory, according to Aedge’s website.
