Golden Mile Complex Sale Gets Nod From Strata Titles Boards
SINGAPORE – The Strata Titles Boards has approved the collective sale of the Golden Mile Complex, reported The Business Times on Wednesday afternoon (10 August, SGT), citing a new announcement from marketing agent Edmund Tie.
The legal completion of the en bloc sale is expected in November 2022, while vacant possession of the mixed-use commercial property will be handed to the buyers in May 2023, under terms of the sales and purchase agreement (SPA).
Previously, it was reported in May 2022 that the 16-storey integrated development was acquired for S$700 million by a consortium of real estate developers consisting of Sino Land, Perennial Holdings, and Far East Organization.
Constructed in 1973, the almost 50-year-old commercial property last year became Singapore’s 1st modern, large-scale strata-titled project to be gazetted for conservation due to its architectural and historical importance.
At present, the development has a gross floor area (GFA) of 56,000 sq m and contains a total of 718 strata units. These consist of offices, shops and residential units, in addition to car parks and a swimming pool as strata lots.
Unit owners will get gross sale proceeds ranging between S$119,000 and S$31 million depending on unit size and property category, added marketing agent Edmund Tie.
