Portfolio of 20 strata commercial units at New World Centre for sale at $55 mil

It has a cinema for movie-goers. Bukit Panjang Plaza is easily accessible by public transport and it is very convenient for residents of Tengah Plantation Close EC and the surrounding area. A great shopping experience awaits visitors at Bukit Panjang Plaza.

The portfolio of 20 strata-titled retail and office units located at New World Centre is up for sale with an indicative price of $55 million. Spanning across all three floors of the three-storey building, this portfolio has a combined floor area of 39,504 sq ft, representing around 57% of the entire building’s strata area. Its vendours are open to selling the portfolio to a single purchaser, or offering the individual strata units for sale.

At an indicative price of $55 million, the units come up to an average of $1,392 psf on the total strata area. The offices on the second and third floors have an average price of $1,265 psf, while the units on the ground floor are priced at an average of $2,380 psf.

Located 250 metres away from the Jalan Besar MRT Station on the Downtown Line, the building was built in the late 1990s on land with a 99-year lease with approximately 70 years left on it. Karamjit Singh, CEO of estate agent Delasa, believes that this portfolio would appeal to a range of buyers, from those looking to realise its en bloc sale potential, to those seeking to acquire units individually or in clusters. For instance, buyers looking for a prominent showroom may wish to opt for seven units spread across three levels on the Jalan Besar podium, totalling 11,000 sq ft, whilst smaller users or investors may favour an 800 sq ft ground floor shop or a 500 sq ft office space on the third level.

Recent resale transactions at New World Centre, paired with its central location and attractive en bloc sale potential makes this portfolio a highly lucrative choice. With the availability of a wide range of permutations to suit different profiles of buyers, it is available for sale on a private treaty and first-come basis.