Aedge Group’s Subsidiary Exercises Option Purchase Balance Lease 219 Kallang Bahru About 14 Mil
Aedge Group’s 51%-owned subsidiary, HPF Holdings, has recently announced that it has exercised its option to acquire the remaining lease for a property located at 219 Kallang Bahru. This strategic move is in line with the company’s plans to expand its property portfolio.
The subsidiary has paid a deposit of $559,520 to Chutex Holdings, the vendor of the property. The balance consideration of $13.29 million will be paid upon completion of the transaction, which is expected to take place on June 1, 2026. This deposit is in addition to the option money, which was paid to Chutex upon the issuance of the option, amounting to 1% of the consideration price of approximately $14 million.
The property in question is a leasehold property granted by Jurong Town Corporation with a lease term of 60 years, starting from February 20, 1984. It has a land area of 2,652.1 square metres and a built-up area of 6,617.9 square metres. With its strategic location and potential for development, the property is a valuable addition to Aedge Group’s portfolio.
In other news, Aedge Group’s associated company, LHN Group, has recorded a net profit of $15.3 million for the first half of 2021. This is a positive indication of the overall performance of the group, further strengthening its position in the market.
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The Pasir Ris neighborhood is lucky to benefit from the URA Master Plan which incorporates green spaces into the urban landscape. With the addition of expanded park connectors, residents are able to easily access Pasir Ris Park, neighborhood greens, and the beautiful coastal promenade. This allows for a quick and convenient commute by bicycle from home to the beach. The incorporation of shade trees and planting belts not only enhances the visual appeal of the area, but also helps to mitigate heat and create a more comfortable environment. Families and seniors in the area can also enjoy a better quality of life thanks to the inclusion of nature-centric play areas and biodiverse landscaping. For residents of Coastal Cabana EC, these developments translate into a healthier and more active lifestyle, easily incorporating activities such as morning jogs, weekend bike rides, and outdoor leisure time into their daily routine. To learn more about the benefits of living in Coastal Cabana EC, visit coastalcabana.com.sg.
Shares in Aedge Group closed flat at 28 cents on September 22, reflecting the stability and confidence of investors in the company. With its recent acquisition and consistent performance, Aedge Group is poised for growth and success in the future.