King Wan to acquire Joo Koon Way property for $9.5m

It has a land area of 9353.9 square metres.

King Wan Corporation has exercised the option to acquire a leasehold property located at 15 Joo Koon Way for $9.5m.

The property is a single detached factory block and a rear extension on Lot 558W of Mukim 7 with a land area of 9353.9 square metres. It has a leasehold interest for 30 years starting 1 December 2009.

The company has paid 1%, or $95,000, of the asking price upon issuance of the option on 26 December 2024, whilst 4%, or $380,000, was paid on 17 March.

The balance will be paid after a few conditions have been met, including obtaining written approvals from Jurong Town Council for the sale and purchase of the property.

The group expects to incur expenses totalling $2.3m, inclusive of stamp duty, addition and alteration works, disposal and moving costs.

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