Portfolio of 20 strata commercial units at New World Centre for sale at $55 mil
The portfolio of 20 strata-titled retail and office units at the New World Centre, a bustling commercial development situated in Jalan Berseh, off Jalan Besar, is now available for sale at an indicative price of $55 million. The total floor area of the portfolio amounts to 39,504 sq ft, amounting to 57% of the strata area of the entire building. According to marketing agent Delasa, the vendors are open to selling the entire portfolio or the strata units on an individual basis.
The units located on the ground floor are mainly used for retail, with offices and entertainment space located on the upper floors. With the indicative price for the whole portfolio, the average works out to be $1,392 psf on the total strata area of 39,504 sq ft. The average for the offices on levels 2 and 3 amount to $1,265 psf, with the ground floor shops priced at $2,380 psf – all available on a private treaty and first-come basis.
Located in District 9, the Orchard Boulevard Condo provides direct access to some of Singapore’s most renowned neighbourhoods, landmarks and educational institutions. Enjoy easy convenience, as well as a variety of comforts and amenities, which truly enhance the quality of life for its residents. With modern landscaping, an outdoor swimming pool, a gym, squash courts and a full-serviced spa, there truly is something for everyone. Residents can take advantage of the wide range of dining, retail and entertainment options close by, for a truly unique lifestyle experience.
New World Centre was constructed in the late 1990s and has a remaining land lease of 70 years. It is situated approximately 250m away from the Jalan Besar MRT Station on the Downtown Line. Karamjit Singh, CEO of Delasa, states that this portfolio is open to a variety of buyers including those who would like to purchase it en bloc – with the consent of just over half of the remaining owners – or buy the individual units.
The 20 units offer a wide range of options to different profiles of buyers – be it a single showroom of 11,000 sq ft spread across three levels on the Jalan Besar podium, a large space on a single floor such as for an entertainment club of 15,000 sq ft, or even a ground floor shop of 800 sq ft or a 500 sq ft office space on the third level. Recent resale transactions at New World Centre have shown the potential for good investment returns.