Saturday, April 9, 2016

Sheng Siong exercises option to purchase commercial premises at Block 209 New Upper Changi Road

Sheng Siong Group says wholly-owned subsidiary, Sheng Siong Supermarket has exercised its option to purchase the commercial premises situated at Block 209 New Upper Changi Road for an aggregate consideration of $53 million.

The property comprises the first and second storeys of a four-storey HDB commercial property, and is situated within the recently upgraded Bedok Town Centre. The property has a gross floor area of 2,844 sqm, with a leasehold tenure of 86 years starting from July 1 1992. The property is currently leased to Sheng Siong Supermarket.

Sheng Siong says the consideration was arrived at on a willing-buyer, willing-seller basis, and will be funded by internal funds.

Sheng Siong last closed at 84 cents.

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