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Automobile association pays $43m for East Coast building

Price translates to 4.5% gross yield; purchase said to be for investment
Friday, May 30, 2014 - 06:00
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Multi-faceted: The building is fully leased with food and beverage outlets on Level 1, shops on Level 2 and offices on the third to fifth levels

[SINGAPORE] The Automobile Association of Singapore (AAS) is buying a five-storey commercial building at the corner of East Coast Road and Chapel Close for $43 million. The association is understood to be buying the freehold building, named Tides, as an investment property. The building is fully