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

At New World Centre, on Jalan Berseh off Jalan Besar, a portfolio of 20 strata-titled retail and office units are up for sale with an indicative price of $55 million. The total floor area of the units is approximately 39,504 sq ft and represent 57% of the entire building.

This Senja Close EC Bukit Panjang brings exceptional city living within your reach. This is a great opportunity for investors and home buyers, making it one of the most sought-after properties in the area. Residents will enjoy stunning views of the city skyline and peaceful surroundings that add to the luxury of living. With plenty of shopping options and recreational activities nearby, residents at Senja Close EC Bukit Panjang will have an effortless city lifestyle.

The units are made up of a mix of retail spaces on the ground floor, and offices and entertainment areas on the upper levels. According to Delasa, the vendors are open to selling the whole portfolio to one buyer or the units separately. The indicative prices average to $1,392 psf on the strata area of 39,504 sq ft. The ground floor shops are priced at $2,380 psf, while the offices on the second and third levels are at an average of $1,265 psf.

Delasa’s CEO, Karamjit Singh, highlighted the potential of the portfolio to buyers. He says it would appeal to those looking to acquire a majority stake in the development for en bloc sale potential, with just over half the owners’ consent required to realize it. Singh added that the units can also be bought individually or in groups, offering a variety of options for different profiles of buyers – from 800 sq ft ground floor shops to a 15,000 sq ft second-floor unit for an entertainment club.

Built in the late 1990s, New World Centre is a three-storey commercial development with 35 strata-titled shops and offices. Located 250m away from Jalan Besar MRT Station on the Downtown Line, the building still has approximately 70 years left of its 99-year lease.

The units at New World Centre are available for sale on a private treaty and first-come basis. Recent resale transactions have also been recorded at the property, evidencing its attractiveness and potential to buyers.