Church in S$54.5 million purchase of 19,289 sq ft retail space in Orchard Towers
The property, in the front block of the freehold building, is being sold by the Sassoon family
Add BT as a preferred source
ABOUT 19,000 square feet (sq ft) of retail space on the fourth level of the freehold Orchard Towers is being sold for S$54.5 million.
The price works out to S$2,825 per square foot based on a total strata area of 19,289 sq ft.
Under a sale and purchase agreement inked about two weeks ago, the property is being bought by Cornerstone Heritage, whose shareholders include Yang Tuck Yoong and Daphne Yip. The couple are the founders and senior pastors at Cornerstone Community Church. The remaining shareholder, Timothy Chong, is also a pastor at the church.
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential legal liabilities
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
