J’Den Condo is a 40-storey residential and commercial development located in Jurong East, Singapore, J’Den Condo near MRT and multiple amenities. CLD expects to launch the property in the second half of 2023.
Sevens Atelier, a Singapore-listed company, is in the process of acquiring an industrial building located at 60 Bendemeer Road. On May 2, it was announced that its wholly-owned subsidiary Sevens Creation (SC) has been granted the option to purchase the property, with a deadline of May 23 to exercise the option.
The single storey, 99-year leasehold building has a total land area of 4,402 sq ft and a remaining lease of 40 years and 10 months. It is zoned for “light industrial usage” by the URA and is currently occupied by Olympia Engineering.
The consideration of $4.15 million for the property was established on a willing-buyer-willing-seller basis, taking into account an indicative valuation from a Singapore-based bank for similar properties in the vicinity.
Sevens Atelier intends to rebuild the property in order to consolidate all its operations in one roof, as well as save on rental costs of its current office and showroom. It is expected to be completed three months after receiving the necessary approvals.
The acquisition of 60 Bendemeer Road is part of a larger trend of industrial property transactions in the area. Recent transactions of industrial properties near the building, as observed via the EdgeProp research tool, show that there is good potential for such investments.
