Sheng Shiong exercises option to purchase property at Bedok Town Centre

SHENG Siong Group - via its subsidiary Sheng Siong Supermarket - has exercised the option granted by Heartland Retail Holdings to purchase the commercial premises at Bedok Town Centre for about S$53 million.

The premises, comprised of the first and second storeys of a four-storey Housing and Development Board commercial property, is currently leased by Sheng Shiong Supermarket for the operation of a store.

Located at Block 209 New Upper Changi Road, it has a gross floor area of approximately 2,844 square metres with a leasehold tenure of 86 years commencing from July 1, 1992.

The proposed acquisition will enable Sheng Siong Group to secure the property with a view to ensuring this store's continued operations and contributions, the group said.