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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
China Evergrande to delay 2023 annual results; shares remain suspended
Dubai ruler’s firm refinances US$8.2 billion to tap property boom
US home prices jump by most in nearly two years in February
UK’s second biggest mortgage lender pulls offers over flood risk
China state firm to sell 20 Shanghai office towers in downturn
Strained Chinese cities struggle to pay home-buying subsidies