HPF Holdings, a 51%-owned subsidiary of Aedge Group, has exercised its option to acquire the remaining lease term for a property located at 219 Kallang Bahru.

The subsidiary has made a deposit payment of $559,520 to the seller, Chutex Holdings, and will settle the remaining consideration of $13.29 million upon transaction completion, which is scheduled for June 1, 2026.

This deposit comes in addition to the option fee previously paid to Chutex upon the option's issuance, representing 1% of the total consideration price of approximately $14 million.

The property operates under a leasehold arrangement granted by Jurong Town Corporation, featuring a 60-year lease term that commenced on February 20, 1984. The site encompasses a land area of 2,652.1 square meters with a built-up area of 6,617.9 square meters.

Aedge Group shares remained unchanged at 28 cents at the close of trading on September 22.