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Located at 1375, 1377, 1379 and 1381 Serangoon Road, the freehold properties are “strategically and conveniently located at the city fringe”, according to an SGX filling by Goodland Group. Photo: Goodland Group
Goodland Group’s subsidiary, Peg East, has agreed to acquire a row of four double-storey shophouses along Serangoon Road for $16 million.
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Located at 1375, 1377, 1379 and 1381 Serangoon Road, the properties are “strategically and conveniently located at the city fringe”. They have a freehold tenure and are easily accessible via expressways, major roads, MRT stations and shopping malls.
“The group intends to redevelop the land on which the properties are situated, which is in line with the business of the group, subject to obtaining the necessary approvals from the relevant authorities,” said Goodland in an SGX filing on Wednesday (9 June).
It added that the acquisition is being funded via internal sources and/or bank borrowings.
Goodland does not expect the acquisition to materially affect the group’s net tangible assets and earnings per share for the current financial year ending 30 September 2021.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
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