Aedge Group’s 51%-owned subsidiary HPF Holdings has exercised the option to purchase the balance of the lease for a property at 219 Kallang Bahru.

The company has paid a deposit of $559,520 to the vendor, Chutex Holdings, and will pay the balance consideration of $13.29 million upon completion, which is expected to take place on June 1, 2026.

The deposit is in addition to the option money, which has been paid to Chutex on issuance of the option, which is 1% of the consideration price of about $14 million.

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The property is a leasehold granted by Jurong Town Corporation with a 60-year lease term beginning Feb 20, 1984. It has a land area of 2,652.1 square metres and a built-up area of 6,617.9 square metres.

Shares in Aedge Group closed flat at 28 cents on Sept 22.