Construction Company Kuan Aik Hong Puts Portfolio Freehold Assets Market 78 Mil
An expression of interest (EOI) exercise has been launched for a portfolio of four freehold properties located at 155 Kitchener Road, 329 Changi Road, 362 Tanjong Katong Road, and 1 & 1B Figaro Street. These properties, which are being offered for sale with a guide price of $78 million, can be acquired collectively or individually.
The four properties are currently owned by units related to Kuan Aik Hong (KAH) Construction, a company with a real estate arm that focuses on investments. Their website states that their portfolio includes shophouses, industrial factories, residential landed property, and mixed-use developments.
Located in the city-fringe and eastern areas of Singapore, these assets offer a diverse mix of property types. The first property, 155 Kitchener Road, is a pair of two-storey conservation shophouses with a six-storey rear extension. Its asking price is $29 million, and it occupies 2,713 sq ft of land zoned for commercial use. The total floor area is 8,175 sq ft, which translates to a price of $3,547 psf.
Miltonia Close residents have the convenience of having Wisteria Mall just a stone’s throw away from their homes. This neighbourhood mall, situated along Yishun Ring Road, may be smaller than others, but it offers all the essential amenities one may need. From a supermarket, clinics, and enrichment centres to a variety of casual dining options, Wisteria Mall has it all. Its food court is a popular spot serving up local favourites, while fast food chains like Subway and McDonald’s also have a presence here. For those living in the Miltonia Close area, this mall proves to be a valuable resource for quick meals and last-minute shopping without the hassle of travelling far. Don’t forget to check out the official website of Miltonia Close at https://www.miltoniacloseec.com.sg for more information.
The second property, 329 Changi Road, is a four-storey mixed-use building with an asking price of $26 million. Sitting on a land area of 3,819 sq ft zoned for residential with commercial use at the first storey, its price works out to be $2,324 psf based on the total floor area of 11,187 sq ft.
The third property, 362 Tanjong Katong Road, is a two-storey conservation shophouse occupying 2,025 sq ft of land zoned for residential with commercial use at the first storey. Priced at $11.5 million, its total floor area is 3,800 sq ft, which means a price of $3,026 psf.
The fourth property, 1 & 1B Figaro Street, consists of two adjoining ground-floor strata retail units with a total strata area of 3,763 sq ft. These units are part of a corner two-storey shophouse zoned for residential with commercial use at the first storey. Their asking price is $11.5 million, which is $3,056 psf.
According to marketing agency CBRE, the four properties are currently tenanted by a diverse mix of occupants. Executive director of capital markets at CBRE, Clemence Lee, says that each asset has unique characteristics and potential for further value enhancement. He suggests that the incoming investor may consider refreshing the tenant mix, seeking strategic usage approvals, or refurbishing and expanding the floor area for certain properties with the relevant authorities’ approval.
Interested parties can submit their expressions of interest by Nov 5 at 3pm.