SINGAPORE (Nov 23): Natural Cool Holdings is selling its property at 38 Lok Yang Way for a consideration of $4.3 million to Hwee Metal Works.

The manufacturer of steel structures and components on Thursday exercised its option to purchase granted by Natural Cool’s subsidiary, Loh & Sons Paint (L&S).

38 Lok Yang Way, which is valued at $4.2 million as of 15 Nov, formed part of the assets of L&S when it was acquired by the group 2015.

The property has a total land area of 2,091.5 sqm on a lease granted by Jurong Town Corporation (JTC) for a 30-year tenure starting from March 29, 2012, with an option to extend for a further term of seven years and three days.

It was previously used to house the manufacturing, warehousing, and administrative functions of Natural Cool Holdings upon its acquisition.

This story, written by Michelle Zhu, first appeared on The Edge Singapore.