Staff Reporter
Published:
Photo by Nitin Chauhan from Pexels
This marks the group’s first commercial property.
Aedge Group Limited has acquired a freehold commercial corner-terrace property at 2 Westerhout Road from IPF Investments for a consideration of $7.5m.
The asset, located in District 14 within the Geylang / Eunos precinct, spans a land area of about 297.4 square metres and marks the group’s first commercial property.
“We see longer-term potential to unlock further value from the site, including through redevelopment, subject to the relevant approvals,” said Aedge CEO Poh Soon Ken.
He added that Aedge is also progressing asset enhancement plans for 219 Kallang Bahru to repurpose the building as the group continues to grow and manage its property portfolio.
The acquisition was funded through a combination of internal resources and bank borrowings, Aedge said.
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