Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
HPF Holdings, a 51%- managed branch of Aedge Group, has actually carried out the purchase of the commercial establishment found at 219 Kallang Bahru for $13.99 million.
The leasehold home has a 60 years lease term granted by JTC, beginning from February 1984. It spans an acreage of 2,652 sq m (28,547 sq ft) and a built-up area of regarding 6,618 sq m (71,236 sq ft).
In its most current declaration, Aedge indicated that this acquisition grows its visibility in recurring-income property.
This is the group’s third industrial building acquisition. In October 2023, Aedge carried out the acquisition of 9 Tuas South Street 11, called Amethyst House. Throughout nearly 80,000 sq ft of land, it serves as added warehouse room sustaining the development of the engineering business and now also houses a 299-bed secondary employees’ dormitory.
This was adhered to by the acquisition 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.
The purchase rate remains in line with the independent assessment of $14 million.
” At a suitable option in the future”, Aedge will certainly likewise look into asset improvement initiatives to repurpose the structure to fit the group’s future requirements.
The 219 Kallang Bahru real estate are going to be mainly for the team’s own usage, with the standing area tenanted out for recurring earnings.
Poh Soon Keng, exec director and CEO of the team, stated: “Industrial estates such as this one assist our core engineering and operational requirements, whilst the added lettable room provides a steady revenue stream that goes well with the project-based income from our various other business sections.”
This becomes part of the group’s continued expansion program to diversify and generate recurring income, according to a June 30 bourse filing by Aedge. The Singapore-listed firm offers engineering, security, manpower, and transport assistances, and also contracts out its investment residences for rental earnings.
Back in September 2025, the subsidiary HPF had actually exercised the alternative to purchase the balance of the contract of the property, settling a deposit of $559,520 to the company, Chutex Holdings. The balance factor to consider of $13.29 million was to be paid upon finalization of the transaction.
