Fragrance Group boss bags two industrial buildings for S$101 million

ENTITIES controlled by Fragrance Group founder and chairman James Koh have picked up two ageing freehold Singapore industrial buildings for a total of nearly S$101 million.

He is paying S$61 million for a five-storey property at 3 New Industrial Road, in the Upper Paya Lebar-Bartley area. The property, with a site area of 34,125 sq ft, is substantially occupied by the seller, Kimly Construction, which is expected to lease back space in the building for a short period. There are also other third-party tenants in the building. Kimly Construction is owned by a Khoo family.

The other property Koh is buying, for nearly S$40 million, is at 3 Kallang Pudding Road. The low-rise building, with a site area of about 24,700 sq ft, is at the corner of Kallang Pudding and Tannery roads. The property is being sold by Cheng Meng Furniture Group, controlled by a Choo family. The seller occupies the building.