# Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil

- **Source:** EdgeProp Singapore
- **Published:** 2026-06-30T15:20:47.000Z
- **Author:** Edgeprop Singapore
- **Original:** https://www.edgeprop.sg/property-news/aedge-subsidiary-buys-219-kallang-bahru-industrial-building-1399-mil
- **Topics:** Commercial & Industrial, Investment & Capital Markets

## Featured rationale

Using most space operationally while leasing the remainder may lower occupancy dependence and strengthen recurring income, with future enhancement potentially improving the asset’s utility.

## AI summary

Aedge subsidiary HPF Holdings completed its $13.99 million acquisition of the 71,236 sq ft leasehold industrial building at 219 Kallang Bahru.

## Original article

HPF Holdings, a 51%-owned subsidiary of Aedge Group, has completed the acquisition of the industrial building located at 219 Kallang Bahru for $13.99 million.

This is part of the group’s long-term growth plan to diversify and generate recurring income, according to a June 30 bourse filing by Aedge. The Singapore-listed company provides engineering, security, manpower, and transport services, and also leases out its investment properties for rental income.

The 219 Kallang Bahru property will be mainly for the group’s own use, with the remaining space tenanted out for recurring income.

Read also: Aedge Group’s subsidiary exercises option to purchase balance of lease at 219 Kallang Bahru for about $14 mil

“At an appropriate opportunity in the future”, Aedge will also explore asset enhancement initiatives to repurpose the building to suit the group’s future needs.

The leasehold property has a 60 years lease term granted by JTC, commencing 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).

The purchase price is in line with the independent valuation of $14 million.

Back in September 2025, the subsidiary HPF had exercised the option to purchase 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 completion of the transaction.

In its latest filing, Aedge noted that this acquisition deepens its presence in recurring-income real estate.

Poh Soon Keng, executive chairman and CEO of the group, said: “Industrial properties such as this one support our core engineering and operational needs, while the additional lettable space provides a steady income stream that complements the project-based revenue from our other business segments.”

This is the group’s third industrial building acquisition. In October 2023, Aedge completed the acquisition of 9 Tuas South Street 11, named Amethyst House. Across nearly 80,000 sq ft of land, it serves as additional warehouse space supporting the growth of the engineering business and now also houses a 299-bed secondary workers’ dormitory.

This was followed by the acquisition of 4 Tuas South Street 11, named Beryl House, in November 2024. Sitting 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.

## Chinese translation

> Translation model: grok

### Aedge子公司以1,399万新元购入加冷峇鲁219号工业大厦

该工程集团表示，物业将主要用于集团自用，其余空间出租以获取租金收入。

Aedge Group持股51%的子公司HPF Holdings已完成以1,399万新元收购位于加冷峇鲁219号（219 Kallang Bahru）工业大厦的交易。

据Aedge于6月30日提交的交易所文件，此举是集团长期增长计划的一部分，旨在实现业务多元化并创造经常性收入。这家新加坡上市公司提供工程、保安、人力与交通服务，亦将其投资物业出租以获取租金收入。

加冷峇鲁219号物业将主要用于集团自用，其余空间出租以获取经常性收入。

延伸阅读：Aedge Group子公司行使期权，以约1,400万新元购入加冷峇鲁219号剩余地契

Aedge亦表示，“未来在合适时机”将探讨资产提升计划，以重新规划大厦用途，满足集团未来需求。

该地契物业由裕廊集团（JTC）批出60年租约，自1984年2月起计。土地面积2,652平方米（28,547平方英尺），建筑面积约6,618平方米（71,236平方英尺）。

收购价与独立估值1,400万新元相符。

2025年9月，子公司HPF已行使购入该物业剩余地契的期权，并向卖方Chutex Holdings支付定金559,520新元。余款1,329万新元于交易完成时支付。

Aedge在最新文件中指出，此次收购加深了其在经常性收入房地产领域的布局。

集团执行主席兼首席执行官傅顺庆（Poh Soon Keng）表示：“此类工业物业支持我们的核心工程与运营需求，而额外可出租空间则提供稳定收入流，补充其他业务板块以项目为主的收入。”

这是集团第三宗工业大厦收购。2023年10月，Aedge完成收购大士南街11号9号（9 Tuas South Street 11），命名为Amethyst House。该物业土地面积近80,000平方英尺，用作支持工程业务增长的额外仓库空间，现亦设有299个床位的二级外劳宿舍。

随后于2024年11月收购大士南街11号4号（4 Tuas South Street 11），命名为Beryl House。据Aedge网站，该物业坐落于107,643平方英尺地段，包括一栋四层单用户独立式仓库及一座408个床位的二级宿舍。