Sevens Atelier to purchase industrial building at 60 Bendemeer Road for $4.15 mil

Sevens Atelier, a Singapore-listed company, is looking to acquire an industrial building located at 60 Bendemeer Road. An announcement was filed with the Singapore Exchange on May 2, stating that Sevens Creation (SC), a wholly-owned subsidiary of Sevens Atelier, has been granted the option to purchase the property until May 23.

The 99-year leasehold property is a single-storey building with a total land area of approximately 4,402 sq ft and a remaining lease of approximately 40 years and 10 months. It has been zoned for “light industrial usage” by the URA and is currently occupied by the vendor Olympia Engineering.

Olympia Engineering deals with the trading and exporting of ISUZU automotive spare parts in Singapore. Recent transactions of industrial properties in the vicinity of the property shows an indicative valuation of $4.15 million. Sevens Atelier intends to rebuild the property to house its showroom and administrative operations team, in order to consolidate all its operations under one roof and achieve savings on rental costs.

The transaction is estimated to be completed three months after obtaining the necessary approvals from relevant authorities.

District 23 is an attractive destination for both buyers and renters, offering The Myst CDL modern amenities, historical landmarks, and natural attractions such as Little Guilin in Bukit Batok. Shopping malls, kampungs and fruit tree plantations coexist in the laid back residential district.

Sevens Atelier’s acquisition of 60 Bendemeer Road is a strategic move to save on rental costs and house their showroom and administrative operations team in one property. Olympia Engineering will vacate the property upon the completion of the sale, and the transaction is expected to be completed within three months.