The Urban Redevelopment Authority (URA) has proposed a unique incentive to the owners of Golden Mile Tower on Beach Road. If they choose to preserve the building’s iconic cinema block during redevelopment, they will receive a bonus in gross floor area. The Straits Times
This offer comes as the owners are engaged in a collective sale exercise for the strata-titled property, which includes an 18-storey office tower atop a six-storey retail and carpark podium housing the cinema block. The URA’s initiative mirrors its recent efforts to conserve large-scale strata-titled buildings, such as the adjacent Golden Mile Complex, which was conserved in October 2021 following similar incentives. The Straits Times
According to Ms. Anna Tan, business development director at Tag Realty and sales agent for Golden Mile Tower, the owners have been granted permission to redevelop the site into a 48,871.2 square meter development, provided the cinema block is retained. This represents a 25% increase over the current gross floor area of 38,953.72 square meters. The URA’s approval, received on December 23, has extended the collective sale exercise to February 12; it began in August 2024 and was initially set to conclude on December 31. The Straits Times
This third collective sale attempt has a reserve price of $556 million, reduced from $650 million in November 2022 and $600 million in April 2023. In August 2024, the collective sale committee applied to the URA to redevelop the complex into a 46,253 square meter mixed-use development, aiming to showcase the property’s redevelopment potential to prospective buyers. The proposal, which included a 35-storey office and residential tower, a 32-storey office and hotel tower, and a five-storey retail podium, was rejected by the URA on December 23. Instead, the agency offered two options:
- Completely redevelop Golden Mile Tower with a maximum building height of 145 meters and a gross floor area capped at the existing 38,953.72 square meters.
- Develop a 48,871.2 square meter project with a maximum height of 164 meters, provided the existing cinema block is conserved.
In both scenarios, the new development can serve commercial, hotel, and residential purposes. The Straits Times
Golden Mile Tower occupies a 0.87-hectare site with a 99-year lease commencing on June 9, 1969. A URA spokesperson described the tower as “a landmark which reflects the transformation of Beach Road over the years.” Retaining the cinema block, with its distinctive facade fronting Beach Road, would allow it to remain a familiar marker, contributing positively to the area’s identity and history. The Straits Times
The cinema block, currently home to The Projector and Carnival Cinemas, has been highlighted by heritage experts for its social significance. Mr. Ho Weng Hin, founding chairman of non-profit heritage group Docomomo Singapore, noted that the URA’s approach balances development intensification with the preservation of a publicly valued feature. He emphasized that Golden Theatre is part of Beach Road’s rich entertainment heritage. The Straits Times
The success of The Projector, established in 2014, has played a significant role in raising awareness of Singapore’s modern architectural heritage. Mr. Edwin Loo, associate director at real estate consultancy Cistri, remarked that The Projector’s presence has demonstrated the value of previously neglected post-war modern buildings. The Straits Times
If the cinema block is conserved, there is hope that its entertainment-based usage and distinctive architectural elements, such as the raked seating, will be preserved, similar to the conserved Capitol Theatre. However, the decision to conserve will depend on potential developers’ assessments of refurbishment costs and the expectations of Golden Mile Tower’s subsidiary proprietors. Mr. Loo cautioned that while incentives are attractive, they do not guarantee windfall gains, given the risks and costs associated with redevelopment. The Straits Times
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