Golden Mile Complex gets 80% mandate for collective sale at lower price of S$700m

MORE than 80 per cent of Golden Mile Complex owners have agreed to a collective sale at S$700 million, which is lower than its original S$800 million reserve price.

The offer was made by a consortium comprising Far East Organization and Perennial Holdings last month via private-treaty negotiations after the building closed its second en bloc tender on Feb 28. 

The Beach Road development’s first collective sale attempt in July 2019, also at a reserve price of S$800 million, drew no bids.