The move was welcomed by heritage groups, which have urged that the building be saved, but it may impact a second attempt at a collective sale launched by its owners in March.
A spokesperson for the Urban Redevelopment Authority (URA) told The Straits Times on Dec 21 that it has informed the property's management corporation strata title and collective sales committee's representatives that URA had assessed the building to be of high heritage significance.
The collective sale effort should take into account the ongoing conservation study and its findings, which have yet to be concluded, said URA.
Mr Lim Fang Hua, chairman of the People's Park Complex collective sale committee, said it would proceed with its plans for sale, which include an asking price of $1.3 billion.
He said it received the notice from URA in November, and many details remained to be ironed out.
"However, we don't foresee a big impact on our sale," he said, adding that close to 50 percent of the unit owners have given consent for the sale.
People's Park Complex launched a first attempt at a collective sale in 2018 at the same asking price but failed to obtain the required consent of 80 percent of the unit owners. There are 391 commercial units, 278 residences, and a carpark.
Ms Anna Tan, business development director of Tag Realty, the sales agent, said it has been in touch with URA to gain a deeper understanding of the conservation plans.
Denne historien er fra December 23, 2023-utgaven av The Straits Times.
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Denne historien er fra December 23, 2023-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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