Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
The acquisition rate remains in line with the private appraisal of $14 million.
This was adhered to by the procurement 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 supporting dormitory, according to Aedge’s website.
In its latest declaration, Aedge considered that this purchase deepens its visibility in recurring-income property.
This is the group’s 3rd industrial property acquisition. In October 2023, Aedge finished the acquisition of 9 Tuas South Street 11, called Amethyst House. Throughout virtually 80,000 sq ft of land, it serves as additional warehouse room supporting the growth of the engineering business and now additionally houses a 299-bed secondary employees’ dorm room.
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 about 6,618 sq m (71,236 sq ft).
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 dealer, Chutex Holdings. The balance factor to consider of $13.29 million was to be paid upon finish of the deal.
The 219 Kallang Bahru real estate are going to be generally for the group’s own use, with the standing room tenanted out for recurring income.
” At an appropriate chance in the future”, Aedge will also look into asset enhancement efforts to repurpose the structure to fit the group’s future needs.
Poh Soon Keng, executive director and chief executive officer of the group, claimed: “Industrial properties such as this help our core engineering and operational requirements, while the added lettable room supplies a steady revenue stream that goes with the project-based income from our various other organization sectors.”
This is part of the group’s long-term expansion plan to branch out and create recurring revenue, according to a June 30 bourse filing by Aedge. The Singapore-listed firm supplies engineering, security and safety, workforce, and transportation assistances, and also contracts out its investment properties for rental income.
HPF Holdings, a 51%- managed branch of Aedge Group, has completed the procurement of the commercial building located at 219 Kallang Bahru for $13.99 million.
