The Business Times
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Golden Mile Tower back on the market at S$556 million

This reserve price is 7.3 per cent lower than the one in its 2023 bid to be sold en bloc at $600 million

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Ry-Anne Lim

Ry-Anne Lim

Published Thu, Aug 8, 2024 · 09:10 PM
    • The 99-year leasehold commercial development at 6001 Beach Road made its first bid for an en bloc sale in November 2022, and its second, in April 2023.
    • The 99-year leasehold commercial development at 6001 Beach Road made its first bid for an en bloc sale in November 2022, and its second, in April 2023. PHOTO: BT FILE

    GOLDEN Mile Tower will be relaunched for collective sale again – this time at a lower reserve price of S$556 million, down 7.3 per cent from the S$600 million reserve price listed in its previous attempt. 

    The lower reserve price translates to a land rate of S$1,117 per square foot (psf), before factoring in land-betterment charges and a premium to upgrade the lease to a fresh 99-year period. 

    Anna Tan, business development director at Tag Realty, the sales agent, told The Business Times that the current attempt is “quite promising” – the owners are submitting an outline application to the Urban Redevelopment Authority (URA) for the redevelopment of the site.

    Collective salePropertySingapore commercial propertyCommercial property

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