Golden Mile Complex en bloc

The S$700 million en bloc sale of Golden Mile Complex has been finalised, and the buyers said the building will be sensitively restored.

In order for the sale to proceed, the conditional agreement had to be exercised by 9 May — and this option was duly exercised by the buyers three days early. The writing was on the wall for the building when more than 80% of its occupants reportedly agreed to the S$700 million sale. Far East Organization has handled the conservation of buildings like Far East Square and The Barracks Hotel in Sentosa. In the announcement, the group also said the sale will be a historic one. Thus, despite the sale, “the existing building will be sensitively restored”, the joint venture said. This was noted by the buyers of the landmark when they finalised its S$700 million sale on Friday (6 May).