Golden Mile Complex tender relaunched at S$800m reserve price
Singapore
EDMUND Tie & Company (ET&Co) has relaunched a tender for the sale of Golden Mile Complex, with the reserve price unchanged at S$800 million.
The current tender exercise will close on April 25 at 3pm. The property, known for its signature step-terraced building design, could be conserved if a buyer is found.
ET&Co, the marketing agent for the en bloc project, said applications have been submitted to conserve the existing 16-storey building and add a new block next to it.
The Urban Redevelopment Authority (URA) has indicated that subject to conservation of the main Golden Mile Complex building, the existing development can be intensified to a total gross floor area of 85,977.5 sq m, reflecting an equivalent plot ratio of 6.387. The original designers of Golden Mile Complex, DP Architects (formerly Design Partnership), will serve as consultant architect for the redevelopment of the property.
"It is possible to integrate the new development sensitively with the old so that the history of the building can enhance the sense of place and bring value to the whole development," said DP Architects director Chan Hui Min.
The existing property has a land area of about 1.3ha, sits on Beach Road and boasts panoramic sea and city views along both Beach Road and Nicoll Highway. It is also located just outside the Electronic Road Pricing (ERP) zone, and is a five-minute walk from Nicoll Highway MRT station.
Under the URA's Master Plan 2014 scheme, the Beach Road/Ophir Road corridor, where Golden Mile Complex sits, is set to become a vibrant mixed-use cluster in the future.
"In the past few months, we have heard many exciting and creative ideas from developers on the adaptive reuse of Golden Mile Complex," said executive director of investment advisory Swee Shou Fern. "A recent advice from the URA would also help to provide greater clarity and guidance on the conservation requirements for the building."
