KLW to buy two units at Kallang Avenue for S$2.28m

KLW Holdings has entered into an option to purchase two units located at 2 Kallang Avenue for about S$2.28 million.

KLW is acquiring the units from Ultra Group and Magnitude respectively, which are unrelated and independent third parties, it said.

The two units - with a total floor area of 252 sq m - are in the 11-storey CT hub located at the southern junction of Kallang Avenue and Kallang Bahru. The units are being sold in vacant possession.

Savills Valuation and Professional Services put the valuation of the units at around S$2.38 million.

"The units will act as an office, showroom, display and base for project operations of the company, as the company's current office lease will cease on 14 July," KLW added.

A deposit of over S$227,850 has been paid so far, while the rest will be paid when the deal is completed around May 7.

It will be funded through internal resources, KLW said.