Eurokars Group buys 23 Leng Kee Rd for S$33m

Singapore

MOTOR trade entrepreneur Karsono Kwee's Eurokars Group is expanding its property ownership in the prime Leng Kee motor belt.

Eurokars is understood to be buying 23 Leng Kee Road for S$33 million from Yong Lee Lee & Company. Eurokars Group already operates out of the building, which among other things houses the showroom and service centre for Mazda, for which the group is the authorised distributor in Singapore.

The group declined to comment when approached by BT earlier this week.

23 Leng Kee Road is on a site with a land area of nearly 40,000 sq ft; the site has 99-year leasehold tenure starting July 1954, which leaves about 34.5 years' balance…