Efforts to preserve Pearl Bank Apartments, one of the oldest private residential buildings in Singapore, have hit a barrier after it failed to get 100 percent support from residents, reported Channel NewsAsia.
Around 90 percent of its residents have consented to the plan, which is short of the required 100 percent.
With the deadline fast approaching (end-October), sources say the liaison committee of the building has appealed to the authorities for a review of the approval criteria.
Aside from preserving Pearl Bank Apartments, the committee also hopes that a conservation status will provide its owners with additional floor area to sell to property developers. They intend to use the money to fund refurbishment works for the building.
Located in the Outram area, Pearl Bank Apartments was built in 1976. The horseshoe-shaped building was put up for en-bloc three times – in 2007, 2008 and 2011. However, the building had no takers.
Photo by Jani Patokallio
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
