Singapore-listed Reclaims Global, a specialist in construction and demolition waste recycling and excavation services, has entered a sale and purchase agreement to acquire 100% of Lasidon Holdings Pte Ltd, owner of the freehold Serangoon Building, for $38.8 million. The six-storey property sits prominently at the corner of Serangoon Road and Burmah Road, featuring a 35-metre dual road frontage, a basement carpark, and a gross floor area of 506.8 sq.m. (5,455 sq.ft). Komala Vilas Vegetarian Restaurant currently occupies the first floor.

Located in the Farrer Park precinct within District 8, the building is within walking distance of Farrer Park MRT Station on the North East Line, offering direct access to City Square Mall and nearby Farrer Park Hospital. It is also adjacent to the newly completed Piccadilly Grand condominium and Piccadilly Galleria, which connects underground to the MRT and City Square Mall, enhancing the site’s accessibility and visibility.

Reclaims Global intends to redevelop Serangoon Building to improve operational efficiency and increase net lettable area. The company plans to retain the property as a long-term investment, targeting capital appreciation and rental income from tenants. The redevelopment is part of the group’s strategy to strengthen long-term resilience and unlock growth opportunities in its property portfolio.

Tan Kok Huat, executive director and CEO of Reclaims Global, highlighted that the acquisition represents a strategic investment, aligning with the company’s objective to enhance asset performance and generate sustainable returns.

Read the full article for details on the redevelopment plans and Reclaims Global’s long-term property strategy.