Golden Mile Complex Obtains Sale Order From STB Instagram

Golden Mile Complex Obtains Sale Order From Strata Titles Board

Owners Are Now in a Buoyant Mood as They Enter the Last Few Stages of the En Bloc Sale Process

The Golden Mile Complex, a prominent sale site that made one of the biggest headlines in the en bloc market, had obtained a sale order from the (STB) Strata Titles Board on August 3.

Edmund Tie, their appointed marketing agent, announced the news.

According to the terms of the sales and purchase agreement, the mixed-use development’s legal completion is slated for November of this year, and developers will get vacant possession in May of 2023.

In May 2022, a consortium comprised of Far East Organization, Perennial Holdings, and Sino Land paid S $700 million for the nearly 50-year-old development.

The 16-storey commercial building, constructed in 1973, was the first contemporary, sizable strata-titled complex to be gazetted for conservation due to its historical and aesthetic value last year.

It presently has a gross floor area (GFA) of 56,000 square meters (sq m) and can hold 718 strata units, including strata lots for car parks, a swimming pool, and stores, offices, and residences.

Owners will get gross sale proceeds ranging from about S$119,000 to S$31 million depending on the property type and unit size, according to a news release from Edmund Tie.

Meanwhile, the owners of Chuan Park condo, which sold en bloc recently for a massive amount of S$890 million, which is the highest collective sale in 2022, are now waiting for a sale order from STB.

Golden Mile Complex Thai Food Lovers

Thai-Food Lovers Including Singaporeans, Tourists and Thai Workers Used To Come Here For Dining and Gathering

Many Will Miss the “Old Golden Mile Complex”

The Golden Mile Complex has long been recognized for having a thriving Thai population, and it was often referred to as “Little Thailand” since most Thai construction workers would congregate there in droves because of the area’s abundance of restaurants providing Thai food.

Most of the food served here is made with ingredients that were grown in an organic way.

The bulk of Thai restaurants, supermarkets, and bars are located in the building’s commercial section, along with other companies.

Tenants and customers alike voiced sorrow at the loss of a unique community jewel due to the building’s impending makeover, according to the news.

Some companies want to relocate, while others will permanently shut their doors.