Golden Mile Complex obtains sale order from strata board; legal completion by November

Aug 10, 2022

MARKETING agent Edmund Tie announced on Wednesday (Aug 10) that the collective sale of Golden Mile Complex has obtained the sale order from the Strata Titles Boards on Aug 3.

Under terms of the sales and purchase agreement, the legal completion is scheduled for November this year, while vacant possession of the development will be handed to the developers in May 2023.

The Business Times reported in May that the nearly 50-year-old building had been sold to a consortium comprising Far East Organization, Perennial Holdings and Sino Land for S$700 million.

Built in 1973, the 16-storey commercial building last year became the first modern, large-scale strata-titled development to be gazetted for conservation for its historical and architectural significance.

It now has a gross floor area (GFA) of 56,000 square metres (sq m) and accommodates a total of 718 strata units comprising shops, offices and residential units, as well as car parks and swimming pool as strata lots.

Depending on both the property type and unit size, owners will receive gross sale proceeds ranging from around S$119,000 to S$31 million, said Edmund Tie in its press statement.