Lian Beng acquires Khong Guan Industrial Building for $31 mil

SINGAPORE (Oct 18): Lian Beng construction group has acquired Khong Guan Industrial Building, an eight-storey freehold light industrial building at 20 Mactaggart Rd, for $31 million through its wholly-owned subsidiary, Smooth Venture.

This building, known as Khong Guan Industrial Building presently, has a gross floor area (GFA) of 57,019 sq ft. At the purchase price of $31 million, price psf is $544. It sits on a site area of 21,123 sf and is zoned for “Business 1” use at plot ratio of 2.5, according to URA Master Plan 2014.

This site is located 300 m from Tai Seng MRT Station within the Macpherson/Tai Seng industrial estate. The present building has a basement car park and enjoys prominent dual road frontage and entrances along Mactaggart Road and Burn Road.

---

Related Stories

• Q&M Dental to acquire Veritas Dental for $800,000
• Parkway Life REIT acquires nursing home in Osaka for $20.7 mil
• Singlife becomes fully owned subsidiary of Sumitomo Life following regulatory approval

---