Church buys Elite Building in collective sale

Singapore

ELITE Building, a freehold six-storey property near Aljunied MRT Station, has been sold through a collective sale for S$52 million to The Tabernacle Church and Missions Limited.

The price works out to S$1,242 per square foot based on the existing gross floor area of 41,866 sq ft.

Completed about two decades ago, Elite Building comes with 19 carpark lots in the basement. It has a 60-metre-long frontage along Aljunied Road.

Unanimous consent of the owners has been obtained. The Institute of Singapore Chartered Accountants (ISCA) owns 13 of the 16 strata units in the building. Two units are owned by another church, …