Natural Cool acquires two property units for S$4.3m

Share  |    |   Comment  |   E-mail to friend  |   Bookmark & Share   

Singapore-based Natural Cool Holdings Ltd announced that its subsidiary has entered into an option to purchase agreement with Sin Hong Hwa Pte Ltd to acquire two property units at 42 Toh Guan Road East for a total consideration price of S$4.30 million.

“The properties are purchased for use as a distribution centre in the Western region of Singapore by our Aircon division,” it said. “The properties are expected to improve the efficiency of the distribution channel for our Aircon division.”

The S$2.15 million price tag of each property was reached after thorough negotiations and on a willing buyer willing seller basis.

The company noted that five percent of the consideration will be paid upon the exercise of the option, while the remaining 95 percent will be paid upon completion of the purchase of properties.

Related Stories:

Increase in industrial land supply to lower prices, rents

Demand for strata industrial units could prove risky

Hafary divests industrial property in Aljunied for S$65.28m

Share  |    |   Comment  |   E-mail to friend  |   Bookmark & Share