Perennial Holdings and Far East Organization unveiled the next chapter in the former Golden Mile Complex’s history at a press conference on Dec 10. The development partners presented their vision for the refreshed conservation building and announced the preview of the strata-titled commercial units.
The entire development, known as Golden Mile Singapore, will be Singapore’s first large-scale conserved building to feature a tropical linear urban complex with brutalist architecture.
The building, now renamed as The Golden Mile, will be transformed into a commercial development that includes 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre.
The office units and medical suites will be available for sale this month, but the developers have not disclosed any indicative pricing yet. Additionally, a new 45-storey residential tower called Aurea will be built on the site where the residential carpark used to be. The 188-unit condominium is set to be previewed next quarter.
CEO of Perennial Holdings, Pua Seck Guan, recalled the lively and diverse mix of retail stores that characterized Golden Mile Complex’s prime mixed-use development in the 1970s. However, as the strata-titled ownership changed over the years, the building’s status as a premier mixed-use property declined. Pua says that Perennial Holdings and Far East Organization are determined to restore and elevate the building’s stature as a next-generation urban complex in Singapore.
The joint venture has partnered with local architecture firm DP Architects and architecture conservation specialist consultancy Studio Lapis to bring their vision for Golden Mile Singapore to life. DP Architects, formerly known as Design Partnership, was the firm that initially proposed the iconic design and mixed-use concept for Golden Mile Complex.
Previously, retail took up 40% of the strata area in Golden Mile Complex, 41% was allocated for office units, and the remaining 19% was for residential use.
The new Golden Mile Singapore will feature retail occupying 15% of the strata area, offices taking up 48%, and 30% set aside for residential use. The remaining 4% will be for medical suites, and 3% for the architecture centre. The architecture centre will be set up under the government’s Community/Sport’s Facilities Scheme, and the joint venture has returned 24,994 sq ft to URA for its establishment.
In addition, two new public access urban gardens will be created on the 9th and 18th floors. This will utilize previously unused spaces in the former Golden Mile Complex, including the rooftop which will be converted into a sky garden on the 18th floor.
The retail atrium at Golden Mile Singapore will undergo a revamp to incorporate a new event space and F&B offerings. The new design will allow for natural light and ventilation, reminiscent of the original concept. Pua says they aim to recreate the street shop-style retail experience that was present when Golden Mile Complex first opened.
The retail units will not be up for sale, as the joint venture plans to retain and curate them. Pua explains that retail is not a major component at The Golden Mile compared to the proportion of office and residential units, and this location is not known as a prominent retail hub in Singapore. He believes that the retail units will complement the offices and residential units.
This month, Perennial and Far East will launch the preview of the strata-titled office units at The Golden Mile. Six different layouts have been designed to cater to various end-users.
The office suites will have a dedicated lobby, and new lift cores will support the office floors above. The original Golden Mile Complex had two end lift cores, but new lift shafts and cores have been added to accommodate the increase in office units and private lift access. The new office lobby will also feature high ceilings and modern Grade A office facilities, such as a concierge and central access control.
The flagship office units on floors 4 – 7 will have a dedicated lift lobby with direct access to the basement carpark and retail floors. Each unit will include two toilets and ranges from 1,378 sq ft to 4,682 sq ft.
Loft Suites on the 4th floor and Loft Executive units on the 5th floor will have full-height windows with landscape views of Beach Road. Loft Suites range from 958 sq ft to 2,034 sq ft, while the Loft Executive units range from 710 sq ft to 926 sq ft.
The stacked terrace section of the building will house the Loft Mezzanine units on floors 6 – 15. These units will have bay views, a double-volume ceiling, and a balcony for natural ventilation and lighting. They are designed with a dual-key layout, a feature usually seen in private residential projects. The Golden Mile is the first strata-titled commercial development with this layout. Units range from 1,528 sq ft to 2,799 sq ft.
Each Loft Mezzanine unit is a combination of two former residential units, with a portion of the ceiling removed to create a single office unit with a double-volume ceiling of approximately 5.4m. Access to the upper office space will be via a staircase with its own entrance or accessed from the lower floor.
In sum, choosing to invest in a Singapore condo brings forth a range of benefits such as high demand, potential for increased value, and attractive rental incomes. Nonetheless, it is crucial to carefully assess various factors like location, financing options, government regulations, and market conditions. Through conducting extensive research and seeking expert guidance, investors can make informed and strategic decisions to achieve maximum returns in Singapore’s dynamic real estate scene. Whether you are a local investor seeking portfolio diversification or a foreign buyer in search of a stable and profitable investment, Singapore condos, such as those offered by Singapore Condo, present a highly advantageous opportunity.
The 16th and 17th floors will feature Enterprise Office units, which were previously duplex penthouse units and will offer stunning views of the city and the bay. Each unit will have two toilets and ranges from 1,851 sq ft to 3,122 sq ft.
The top four floors will house the newly built Crown Office units. There will be four units per floor, except for the penthouse floor which will have two units. These offices range from 3,315 sq ft to 5,393 sq ft.
Pua believes that their office units, especially the Loft Mezzanine units, will appeal to family offices, as Singapore has seen an increase in family offices in recent years. He also mentions that the other office layouts will attract various corporate tenants.
The Golden Mile will have a diverse mix of tenants, from corporate to family offices, creating a unique ecosystem. Pua says that they will screen each potential buyer to ensure the right mix of tenants from different industries and market segments.