KLW Holdings Buy In Carlton

Singaporean investment company, KLW Holdings, has bought a five-storey property at Lincoln Square South in Carlton for $12.5m AUD.

Based in Singapore, KLW Holdings is primarily a door manufacturing business, however, a step into real estate has been in the making for a number of years.

Last year KLW Holdings bought into their first Melbourne property by acquiring a seven-storey property at 301 Flinders Lane for a whopping $23.6m.

The Carlton property is approximately 3745sqm and sits on a 906sqm lot - and is positioned only 500m from Melbourne's CBD.

Managing Director of KLW Holdings, Lee Boon Teck, was excited about entering the property market in the past 12 months.

“Being in a mixed use zone, we are presented with a range of potentially lucrative development options from office to residential uses,” he said.

“It has an excellent location close to the CBD, with three street frontages enabling ample natural light and offering stunning views of Lincoln Square Gardens and the CBD. It also has major attractions within its immediate precinct including the Carlton Gardens, Royal Exhibition Buildings, Melbourne Museum, Melbourne University, Melbourne Central and The Royal Melbourne Hospital.”

Colliers International and Allard Shelton marketed the property.