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Golden Mile Tower relaunched for collective sale at $600m reserve price

Posted by admin on April 8, 2023

Golden Mile Tower was relaunched for sale on April 7 2023. The land has a size of 8727 square metres and a gross floor area of 38,953.72 sq m. Having a plot ratio of 4.46 is able to build up to more than 36 storeys high. It is zoned as a commercial use in the 2019 masterplan

The new asking price is now at $600m which translates to $1550 per square foot per plot ratio. If the reserve price is reached, the owners of the retail commercial units in Golden Mile Tower will gain to earn an indicative of $400,000 to $16million each.Those owners of the commercial offices will receive between $587,000 and $13.5million.The bank valuation was at $598million.

Golden Mile Tower is located on District 7 comprises of a total of 405 strata lots of which is 251 units of retail units, 152 units of offices, a cinema and a carpark.

The tower was built in 1974 and currently having a balance lease of 46 years.

The second tender will close on May 8.

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