Sin Heng Heavy Machinery (SGX:BKA) has secured an option to purchase a two-story leasehold shophouse at 21 Ghim Moh Road, Singapore, for SG$2.8 million, according to a Tuesday filing on the Singapore Exchange.

The property, with a leasehold tenure of 52 years, will be acquired for investment purposes. The option follows arm's length negotiations, with the purchase consideration aligned with the property's indicative valuation as of Oct. 30.