It seems like there might still be hope for Golden Mile Complex after all.

Conservation study launched

According to The Straits Times (ST) the Urban Redevelopment Authority (URA) is conducting a conservation study on the 45-year-old development.

A URA spokesperson told ST that the development has "heritage value, and is engaging the stakeholders to explore options to facilitate conservation. 

The agency also told Channel NewsAsia (CNA) "Where there are strong support and merits for conservation, we will work with the relevant stakeholders to facilitate the process."

There is no word yet on when the conservation study will end, however the tender exercise which has been lengthened to accommodate the conservation study will close on January 30, 2019 at 3pm..

Also put up for en bloc sale

At the same time, a collective sale tender has been launched. The estimated price of the sale is S$800 million.

According to ST, residential units could fetch between S$1.27 million and S$6 million each, while shop units can get between S$200,000 and S$7 million each. Office units can get between S$360,000 and S$3 million each if the reserve price is met.

The property's marketing agent, Edmund Tie & Company (ET&Co), told ST that URA had informed them of the study at a consultation.

Two months later, ET&Co submitted a planning application to the authorities to retain the 16-storey building and add a new block next to it. This application is subjected to the authority's approval.

DP Architects, the firm which designed Golden Mile in the 1970s has been appointed consultant architect for the en bloc site.

The news of the conservation study comes on the back of a petition launched by local architects and heritage specialists calling for the authorities to save Golden Mile Complex from being demolished.

The petition also saw more than 80 per cent of the unit owners in Golden Mile Complex formally sign an agreement to proceed with en bloc sales.

If Golden Mile gets conservation status and proceeds with collective sale, it will be the first time a large scale conserved development gets sold en bloc.

Top image by ET&Co

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