Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
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 about 6,618 sq m (71,236 sq ft).
In its most recent declaration, Aedge noted that this procurement deepens its presence in recurring-income property.
This is the group’s 3rd commercial property acquisition. In October 2023, Aedge finished the acquisition of 9 Tuas South Street 11, named Amethyst House. Across nearly 80,000 sq ft of land, it works as extra warehouse space sustaining the growth of the engineering business and now additionally houses a 299-bed secondary workers’ dorm room.
” At a suitable opportunity in the future”, Aedge will likewise look into property improvement efforts to repurpose the facility to fit the group’s future needs.
HPF Holdings, a 51%- owned branch of Aedge Group, has actually carried out the acquisition of the industrial property located at 219 Kallang Bahru for $13.99 million.
The acquisition cost is in line with the independent assessment of $14 million.
The 219 Kallang Bahru property are going to be primarily for the team’s own use, with the lasting space tenanted out for recurring revenue.
Back in September 2025, the subsidiary HPF had exercised the choice to acquire 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 finalization of the purchase.
This is part of the team’s long-term growth plan to branch out and create recurring revenue, according to a June 30 bourse filing by Aedge. The Singapore-listed business offers engineering, security and safety, workforce, and transportation assistances, and also rents out its investment properties for leasing income.
This was complied with by the acquisition of 4 Tuas South Street 11, called 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.
Poh Soon Keng, exec chairman and chief executive officer of the team, stated: “Industrial estates such as this set help our core engineering and working needs, whilst the added lettable area gives a steady income stream that goes well with the project-based profits from our various other company sectors.”
