United Engineers says it has sold its industrial property, UE Print Media Hub, for $51 million.
UE Print Media Hub, located at 61 Tai Seng Avenue, is a five-storey modern industrial building with a basement carpark developed and constructed by the group.
It received its temporary occupation permit in June 2007 and has a net lettable area of about 254,752 sq ft across a site area of 131,577 sq ft.
UE says the sale of UE Print Media Hub is fully in line with the group’s ongoing strategy to streamline businesses and asset management. This is the second sale of an industrial property by the group in five years. In December 2006, the group sold off UE Tech Park, a warehouse complex at Pandan Crescent, for $115 million.
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