Cosmosteel Receives Final Approval Dispose Property 90 Second Lok Yang Road 9 Mil
CosmoSteel Holdings has recently announced that it has received the final approval for the disposal of its property located at 90 Second Lok Yang Road. The company is expecting the transaction to take place in end-August 2025.
The upcoming EC project, Miltonia Close EC Khatib, is set to provide residents with a range of top-notch condominium amenities. These include a well-equipped clubhouse, a lap pool for some refreshing swims, a children’s playground for the little ones, fitness areas for active lifestyles, barbecue pavilions for social gatherings, and beautifully landscaped gardens for a tranquil ambience.
The development is expected to offer a diverse selection of unit types, catering to the varying needs of potential buyers. This includes two-bedroom compact units, perfect for young couples, as well as larger four-bedroom layouts to accommodate multi-generational families. For added flexibility, the option of dual-key units may also be available, providing opportunities for extended families or rental income.
As executive condominiums are subject to certain government regulations, buyers can anticipate a significant price discount compared to surrounding private condominiums, particularly during the launch phase. This presents a great opportunity for individuals and families to own a high-quality home at a more affordable price. Don’t miss the chance to become a part of Miltonia Close EC Khatib, a promising and desirable living community.
The property in question is a 5-storey single-user warehouse building that comes with an ancillary workers’ dormitory. It sits on a land area of approximately 69,998.79 sq ft and is currently leased from Jurong Town Council. The lease is set to expire on June 15, 2032.
According to the company, the buyer of the property is Tenda Equipment & Services, who has agreed to a sale consideration of $9 million. As part of the agreement, an option fee of $90,000 will be paid upon the vendor’s acceptance. This vendor is a wholly-owned subsidiary of Cosmosteel. Additionally, a deposit of $360,000 will be paid upon the execution and exercise of the option to purchase, with the balance to be paid on or before the completion date.
This news comes shortly after the recent sale of Macpherson Industrial Complex for $103.9 million, 17% above the asking price. CosmoSteel’s disposal of its property at 90 Second Lok Yang Road is part of the company’s strategy to focus on its core business and divest non-core assets. Interested buyers can check out the latest listings for industrial real estate properties on our platform.