Far East, Perennial offer to buy Golden Mile Complex for lower price of S$700m
Sale committee will now have to convince unit owners to accept a bid that's S$100m less than reserve price and independent valuation
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A CONSORTIUM comprising Far East Organization and Perennial Holdings has offered to buy the iconic Golden Mile Complex for S$700 million, which is S$100 million lower than its reserve price of S$800 million, a source has confirmed with The Business Times.
Golden Mile Complex's collective sale committee (CSC) will now have to convince respective owners of the development with 718 strata-titled units to accept the deal as the offer fell below both the reserve price and an independent valuation of the property.
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