Sheng Siong enters deal to buy Aljunied Avenue property for around S$30 million

Sheng Siong Supermarket in Singapore’s Little India area; taken October 2018.Sheng Siong Supermarket in Singapore’s Little India area; taken October 2018.

Sheng Siong Group’s wholly owned subsidiary Sheng Siong Supermarket has entered a deal to acquire the property at Block 118 Aljunied Avenue 2 #01-100 from Jelita Property for S$29.5 million, the supermarket operator said in a filing to SGX Friday.

“The proposed acquisition would enable the group to open an additional store and is in line with the group’s strategy to operate supermarkets in areas where our potential customers reside,” Sheng Siong said.

The location is within walking distance of the Aljunied MRT station and near Geylang Polytechnic, NTUC Health Nursing Home (Geylang East) and Aljunied Industrial Estate, the filing said.

The property includes units on the first and second storeys of a seven-story Housing and Development Board (HDB) commercial property with a four-storey public carpark annex, the filing said.

The deal is contingent on the approval of HDB, Sheng Siong said.

The site has a gross floor area of around 2,717 square meters and a leasehold tenure of 86 years, starting from 1 July 1993, the filing said.

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