Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
Back in September 2025, the subsidiary HPF had actually exercised the choice to buy the balance of the lease of the property, paying a deposit of $559,520 to the seller, Chutex Holdings. The balance consideration of $13.29 million was to be paid upon finish of the transaction.
This is the group’s third commercial 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 works as added warehouse space sustaining the development of the engineering business and now likewise houses a 299-bed secondary employees’ dormitory.
This was complied with by the purchase of 4 Tuas South Street 11, named 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 leasehold home has a 60 years lease term provided by JTC, commencing from February 1984. It spans an acreage of 2,652 sq m (28,547 sq ft) and a built-up area of concerning 6,618 sq m (71,236 sq ft).
In its most current filing, Aedge noted that this procurement strengthens its existence in recurring-income property.
Poh Soon Keng, exec director and CEO of the team, stated: “Industrial properties such as this one assist our core engineering and working demands, while the added lettable space provides a steady revenue stream that goes well with the project-based income from our other business sections.”
HPF Holdings, a 51%- managed branch of Aedge Group, has completed the acquisition of the commercial property found at 219 Kallang Bahru for $13.99 million.
This is part of the team’s long-term growth strategy to expand and generate recurring earnings, according to a June 30 bourse declaring by Aedge. The Singapore-listed business gives engineering, safety and security, manpower, and transportation services, and also leases out its investment residences for rental income.
” At a proper option in the future”, Aedge will certainly additionally look into asset improvement campaigns to repurpose the building to suit the team’s future demands.
The acquisition cost remains in line with the independent evaluation of $14 million.
The 219 Kallang Bahru real estate are going to be mostly for the team’s own use, with the standing room tenanted out for recurring revenue.
