Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
The 219 Kallang Bahru real estate will be primarily for the team’s own usage, with the standing room tenanted out for recurring income.
This is the group’s third commercial building purchase. In October 2023, Aedge completed the acquisition of 9 Tuas South Street 11, called Amethyst House. Throughout virtually 80,000 sq ft of land, it serves as added warehouse room supporting the growth of the engineering business and now additionally houses a 299-bed secondary workers’ dorm room.
The leasehold home has a 60 years lease term granted by JTC, beginning 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).
This belongs to the group’s extended expansion strategy to expand and produce recurring earnings, according to a June 30 bourse declaring by Aedge. The Singapore-listed company offers engineering, security, manpower, and transport assistances, and also contracts out its investment properties for leasing earnings.
Poh Soon Keng, executive chairman and chief executive officer of the team, stated: “Industrial real properties such as this set support our core engineering and working demands, whilst the more lettable room gives a steady revenue stream that matches the project-based revenue from our other service sections.”
In its latest submission, Aedge indicated that this acquisition grows its presence in recurring-income realty.
This was followed by the purchase 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 supporting dormitory, according to Aedge’s website.
HPF Holdings, a 51%- acquired branch of Aedge Group, has actually finished the purchase of the industrial building located at 219 Kallang Bahru for $13.99 million.
” At an appropriate chance in the future”, Aedge will additionally explore investment enhancement initiatives to repurpose the establishment to fit the team’s future needs.
Back in September 2025, the subsidiary HPF had actually exercised the choice to purchase the balance of the lease of the property, paying a deposit of $559,520 to the seller, Chutex Holdings. The balance factor to consider of $13.29 million was to be paid upon finish of the deal.
The acquisition price is in line with the private assessment of $14 million.
