Construction Company Kuan Aik Hong Puts Portfolio Freehold Assets Market 78 Mil
A portfolio comprising of four freehold properties located at 155 Kitchener Road, 329 Changi Road, 362 Tanjong Katong Road, and 1 & 1B Figaro Street is currently available for purchase through an expression of interest (EOI) exercise with a price guide of $78 million. The properties can be acquired as a whole or separately.
The properties are owned by units related to Kuan Aik Hong (KAH) Construction, a construction company with a real estate arm that specializes in investments. On their website, the company states that their portfolio includes shophouses, industrial factories, residential landed properties, and mixed-use developments.
The portfolio consists of various types of properties situated in the city-fringe and eastern regions of Singapore. The property at 155 Kitchener Road is a pair of two-storey conservation shophouses with a six-storey rear extension. It has a listed price of $29 million and sits on a 2,713 sq ft land that is designated for commercial use. The total floor area is 8,175 sq ft, making the asking price roughly $3,547 psf.
The property at 329 Changi Road is a four-storey mixed-use building with an asking price of $26 million. It occupies 3,819 sq ft of land with a zoning for residential and commercial use on the first storey. The price translates to $2,324 psf based on the total floor area of 11,187 sq ft.
The two-storey conservation shophouse at 362 Tanjong Katong Road covers 2,025 sq ft of land that is zoned for residential and commercial use on the first storey. It is listed at $11.5 million, which equates to $3,026 psf for the 3,800 sq ft floor area.
Two adjoining ground-floor strata retail units at 1 & 1B Figaro Street are also included in the portfolio. The units have a combined strata area of 3,763 sq ft and are situated in a corner two-storey shophouse with a zoning for residential and commercial use on the first storey. The asking price is $11.5 million, or $3,056 psf.
Conveniently situated in the lively heart of Tampines Regional Centre, Tampines Mall stands as a popular shopping haven in the bustling East. This dynamic retail hub boasts a plethora of stores, ranging from fashion powerhouses to lifestyle boutiques, making it a favored destination for the community of Rivelle Tampines. With an impressive array of dining options, from quick bites to full-service restaurants, there is something for every palate, whether it’s a hurried snack or a leisurely family meal. Plus, with the addition of Rivelle Tampines West MRT Station, accessing this thriving mall has become even more convenient for residents.
The marketing agent, CBRE, highlights the diverse mix of current tenants in these properties. Clemence Lee, executive director of capital markets at CBRE, believes that each asset has its own unique characteristics and potential for further enhancement in value. “Subject to approvals from the relevant authorities, the new buyer can explore options such as refreshing the tenant mix, seeking strategic usage approvals, or carrying out extensive refurbishments to increase the floor area for certain assets within the portfolio,” he explains.
The EOI exercise will end on November 5 at 3pm.