The partnership between Perennial Holdings and Far East Organization has unveiled the next chapter of the Golden Mile Complex’s history. The conservation building, now renamed The Golden Mile, will feature 156 Grade A office units, 19 medical suites, a two-storey retail component, and a public access architecture centre. This development, known collectively as Golden Mile Singapore, is the first large-scale strata-titled conserved building in Singapore, preserving its iconic identity as a tropical linear urban complex with brutalist architecture.
At a press conference on Dec 10, the partners also announced the preview of the strata-titled commercial units, which will be available for sale this month. The office units and medical suites will be marketed by the developers, but no indicative pricing has been released yet. In addition, a new 45-storey residential tower, called Aurea, will be developed on the site where the residential carpark used to be. The condominium, which consists of 188 units, is expected to be previewed in the next quarter.
Perennial Holdings CEO, Pua Seck Guan, recalls the bustling retail scene that was characteristic of the Golden Mile Complex in the 1970s. However, with the change in ownership over the years, the building’s prime mixed-use development status faded. The partners are determined to revive and elevate the building’s status as a next-generation urban complex in Singapore.
Partnering with homegrown architecture firm DP Architects and architecture conservation specialist consultancy Studio Lapis, Perennial and Far East have a new vision for Golden Mile Singapore. DP Architects was the original architecture firm that proposed the building’s iconic design and mixed-use concept.
Previously, the strata area at Golden Mile Complex was divided into 40% retail, 41% office, and 19% residential use. The refreshed Golden Mile Singapore, including Aurea, will see retail occupying 15% of the strata area, offices taking up 48%, and residential use 30%. The remaining 4% will be used for medical suites and 3% for the architecture centre. The rooftop, previously a vacant space, will be converted into a sky garden on the 18th floor, with public access urban gardens on the 9th and 18th floors.
The revamped two-storey retail atrium will feature natural light and ventilation, creating a street shop-style shopping experience. The retail units will be owned and curated by the joint venture partners, and are not available for sale. This is a strategic move, as the locale is not known as a major retail hub in Singapore. Pua believes that the retail units will complement the offices and residential units, and not be a major component of The Golden Mile.
The strata-titled office units at The Golden Mile will be launched this month. There are six different layouts catering to a variety of end-users. The Flagship office units on the 4th to 7th floors will have a dedicated lift lobby and access to the basement carpark and retail floors. The units come with two toilets and range from 1,378 sq ft to 4,682 sq ft.
Loft Suites and Loft Executive units on the 4th and 5th floors respectively, will have full-height windows with views overlooking Beach Road. The Loft Suites range from 958 sq ft to 2,034 sq ft, while the Loft Executive units span from 710 sq ft to 926 sq ft. The Loft Mezzanine units on the 6th to 15th floors are designed with a double-volume ceiling and balcony for natural ventilation and illumination. These units also feature a dual-key design, with units ranging from 1,528 sq ft to 2,799 sq ft. The 16th and 17th floors feature the Enterprise Office units, each with two toilets and panoramic views of the city and bay. These units range from 1,851 sq ft to 3,122 sq ft.
Investing in Singapore’s real estate market requires a thorough understanding of the regulations and limitations surrounding property ownership. While foreigners can easily purchase condominiums, restrictions are placed on the ownership of landed properties. Additionally, foreign buyers must also pay the ABSD, currently set at 20% for their initial property purchase. Despite these extra expenses, the stability and potential growth of the Singapore real estate market remains a strong draw for foreign investors. To explore lucrative opportunities, interested parties can consider Singapore Projects.
Finally, the newly built Crown Office units will take up the top four floors, with four units per floor except for the penthouse floor with two units. These units range from 3,315 sq ft to 5,393 sq ft. Pua believes the Loft Mezzanine units will appeal to family offices, as The Golden Mile aims to attract a mix of tenants from different industries and market segments.
The Golden Mile complex will feature a revamped two-storey retail atrium, with new F&B offerings and event space. The retail experience will be returned to its original design, with natural light and ventilation. A new office lobby, lifts, and facilities such as a concierge and access control will also be added. The joint venture partners are determined to create a vibrant ecosystem of tenants at The Golden Mile, with the aim of elevating the building’s status as a next-generation urban complex in Singapore.