{"id":46447,"date":"2021-12-08T18:49:40","date_gmt":"2021-12-08T10:49:40","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=46447"},"modified":"2023-08-04T17:46:05","modified_gmt":"2023-08-04T09:46:05","slug":"peace-centre-mansion-en-bloc-golden-mile-complex-next","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/peace-centre-mansion-en-bloc-golden-mile-complex-next\/","title":{"rendered":"Will Golden Mile Complex be next after the Peace Centre \/ Peace Mansion en bloc?"},"content":{"rendered":"
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\"Peace<\/a><\/p>\n

After four en bloc attempts, both the shopping mall Peace Centre and residential complex Peace Mansion went back on the market for the fifth time and were finally sold.<\/p>\n

At S$650 million, the buyers are property players Ultra Infinity and Chip Eng Seng, a Sing-Haiyi Crystal joint venture.<\/p>\n

Built in 1977, the adjoined properties consist of 232 commercial units and 86 apartments. More than 80% of the owners agreed to the sale.<\/p>\n

As it is currently zoned for commercial use, the Urban Redevelopment Authority needs to give approval to develop the property into a mixed-use residential-commercial development.<\/p>\n

This means the 76,617-sqft site with a gross plot ratio (GPR)<\/a> of 7.89 can be redeveloped with 60% commercial and 40% residential. The latter translates to 240 residential apartments at an average size of 1,000-sqft per unit.<\/p>\n

Due to the site being zoned for commercial use under URA\u2019s Master Plan 2019, the offerers need not pay additional buyer\u2019s stamp duty (ABSD). On 26 March 2019, the owners obtained in-principle approval from the Singapore Land Authority to refresh its 99-year term lease.<\/p>\n

Convenient location<\/b><\/h2>\n

Located in District 19, Peace Centre\/Peace Mansion<\/a> (PCPM) is advantageously situated near popular malls such as GR.iD, Wilkie Edge, Bugis Junction, Bugis+, The Cathay and Plaza Singapura.<\/p>\n

\"Peace<\/a><\/p>\n

It has excellent connectivity, with six MRT stations within a 600m radius \u2013 Rochor, Bencoolen, Dhoby Ghaut, Bras Basah, Little India and Bugis.<\/p>\n

There are also educational institutes aplenty. Singapore Management University, the School of the Arts, Lasalle College of the Arts, Nanyang Academy of Fine Arts and Kaplan City Campus are in the vicinity.<\/p>\n

If you\u2019re a parent looking to enrol your child into primary school, St Margaret’s Primary School and Stamford Primary School are within a 1km radius. Other schools within a 2km radius include Anglo-Chinese School (Junior), Farrer Park Primary School, River Valley Primary School and St Joseph’s Institution Junior.<\/p>\n

Home of KTVs<\/b><\/h2>\n

Peace Centre has garnered an infamous reputation for being home to an array of Chinese KTV lounges, with at least five karaoke bars occupying an entire floor each.<\/p>\n

\"Peace<\/a><\/p>\n

At these nightclubs, patrons lavish tips on their favourite hostess by buying her a flower garland or sash in exchange for her company and undivided attention. These garlands range from S$50 all the way to an eye-watering S$10,000, and each hostess may receive multiple adornments throughout the night.<\/p>\n

No peace at Peace Mansion <\/b><\/h2>\n

Many of the girls working the nightlife at Peace Centre call Peace Mansion home, conveniently located just a stone\u2019s throw away.<\/p>\n

They return at odd hours after long nights of revelry, causing a general ruckus<\/span><\/a> and disturbing the local residents. Some unwanted noises include the slamming of doors and metal gates, as well as the occasional shouting across the lobbies.<\/p>\n