Investing in Condos in Singapore has become a highly sought-after venture for investors, both local and international, in recent times. This is due to the country’s strong economy, stable political climate, and exceptional quality of life, making it an ideal location for property investments. The thriving real estate market in Singapore offers a variety of opportunities, and Condos have emerged as a top choice for their convenience, amenities, and potential for lucrative returns. This article aims to delve into the advantages, key considerations, and necessary steps involved in venturing into a Condo investment in Singapore. With the numerous benefits of owning a Condo, it has become a highly attractive option for investors looking to add Condo to their investment portfolio.
Perennial Holdings and Far East Organization revealed their vision for the rejuvenated Golden Mile Singapore at a press conference on Dec 10. The iconic former Golden Mile Complex will now be known as The Golden Mile, with a refreshed look that preserves its unique tropical linear urban complex design with brutalist architecture. This marks Singapore’s first large-scale strata-titled conserved building.
The Golden Mile will feature 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre. These will be available for sale this month, with the exception of the medical suites and office units, for which pricing has not been released yet.
A new 45-storey residential tower, Aurea, will also be built on the former residential carpark area and is set to be previewed in the next quarter. Pua Seck Guan, CEO of Perennial Holdings, fondly remembers the vibrant and eclectic retail mix that defined the heyday of Golden Mile Complex in the 1970s. However, over the years, as the strata-titled ownership changed hands, the building’s status as a prime mixed-use development declined. Perennial Holdings and Far East Organization are determined to restore and elevate The Golden Mile’s status as a next-generation urban complex in Singapore.
The joint venture partners have collaborated with DP Architects and Studio Lapis to bring their vision for Golden Mile Singapore to life. DP Architects (previously known as Design Partnership) was the original architect responsible for the iconic design and mixed-use concept of Golden Mile Complex. In the past, the development’s strata area was divided into 40% for retail, 41% for offices, and 19% for residential use.
With the refreshed Golden Mile Singapore, retail will now take up 15% of the strata area, offices will occupy 48%, and residential units will make up 30%. The new medical suites and architecture centre will take up the remaining 7%. Public access urban gardens will also be created on the 9th and 18th floors, utilizing previously vacant spaces in the complex, including the building’s rooftop which will be converted into a sky garden.
The revamped two-storey retail atrium will feature a new event space and F&B offerings, bringing back the original design’s natural light and ventilation. The joint venture partners will be curating and retaining these retail units, as they are not available for sale. Pua Seck Guan explains that retail is not a significant component at The Golden Mile, and it will serve to complement the offices and residences in the complex.
The preview for the strata-titled office units will be launched this month, featuring six different layouts to cater to a variety of users. The office suites will have a dedicated lobby, and new lift cores will support the office floors, replacing the previous two end lift cores. The new office lobby will also feature a 6m high ceiling and modern facilities like a concierge and centralized access control.
The Flagship office units on the 4th-7th floors will have a dedicated lift lobby for direct access to the basement carpark and retail floors, with two toilets in each unit. These units span 1,378 sq ft to 4,682 sq ft. The Loft Suites on the 4th floor and Loft Executive units on the 5th floor will have full-height windows with views of Beach Road, ranging from 710 sq ft to 2,034 sq ft.
The Loft Mezzanine units on the 6th-15th floors will enjoy bay views and come with a double-volume ceiling, balcony, and a dual-key design. These units are a combination of two former residential units, with a portion of the ceiling removed to form a single office unit with a double volume ceiling of about 5.4m. Access to the upper office space will be through a staircase, which has its own entrance or can be accessed from the lower floor. Units span 1,528 sq ft to 2,799 sq ft.
The Enterprise Office units on the 16th and 17th floors, which used to be penthouses, offer panoramic views of the city and bay. Each unit comes with two toilets and spans 1,851 sq ft to 3,122 sq ft. The top four floors house the newly built Crown Office units, with four units per floor, except for the penthouse level, which features two units. These units range from 3,315 sq ft to 5,393 sq ft.
Pua Seck Guan believes that the office units, especially the Loft Mezzanine units, will appeal to family offices. The other layouts will also cater to various corporate tenants, creating a mix of tenants from different industries and market segments. The Golden Mile will truly be a next-generation urban complex, comprising a good mix of tenant profiles.