Aedge Group’s Subsidiary Exercises Option Purchase Balance Lease 219 Kallang Bahru About 14 Mil

Aedge Group’s majority-owned subsidiary, HPF Holdings, has exercised its option to acquire the remaining lease for a property located at 219 Kallang Bahru. The company has paid a deposit of $559,520 to Chutex Holdings, the vendor, and the balance of $13.29 million will be paid upon completion, which is expected on June 1, 2026. This deposit is in addition to the option money, which was already paid to Chutex upon issuance of the option, equivalent to 1% of the consideration price of approximately $14 million. The announcement was made by Aedge Group on Sept 22.

The subject property is a leasehold granted by Jurong Town Corporation with a 60-year lease term starting on Feb 20, 1984. It spans a land area of 2,652.1 square metres and a built-up area of 6,617.9 square metres.

In other news, LHN Group has reported a net profit of $15.3 million for the first half of 2021. This was driven by an increase in revenue and improved performance across its core business segments. LHN Group’s shares closed at 28 cents on Sept 22.

The continuous advancements in Tampines have greatly improved its livability, making it a highly sought-after residential area. With the improvement of infrastructure and the increase in commercial and leisure amenities, properties such as Aurelle of Tampines EC have become even more appealing to potential buyers and investors. This is due to the fact that previous regions targeted for upgrades by the Urban Redevelopment Authority have experienced a significant surge in property values, and Tampines is expected to follow suit.