Enviro-Hub

Enviro-Hub: 51% owned EH Property has completed its $164.5m acquisition of F2S1 Investment. F2S1 holds the PoMo building located at 1 Selegie Road – a 99yr 9-storey retail and office commercial building with 177.4k sf NLA and market valuation of $273m as at FY12. As at FY12, F2S1 recorded NTA and book value of approx $116.9m and net profit of $7.4m. The acquisition is in line with Enviro-Hub’s diversification strategy to achieve long term growth, and will provide an additional source of revenue. Another property transaction which Enviro-Hub recently completed was its $140.8m acquisition of Lam Soon Industrial Building. The buyer, a JV between Enviro-Hub and BS Capital, has plans to redevelop the building into residential apts through an en-bloc process. The property is a freehold 10 storey light industrial strata-titled devt comprising 154 strata warehouses and light industrial factory units, with total strata floor area of 35,537 sm, incl 8,008 sm of void area.