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

The portfolio of twenty strata-titled retail and office units at New World Centre, a three-storey commercial development located on Jalan Berseh in Jalan Besar, is up for sale with an indicative price of $55 million. Spanning a combined floor area of 39,504 sq ft, these units offer a diverse array of options to buyers, including purchase of the entire portfolio or individual units.

According to Karamjit Singh, CEO of Delasa, the marketing agent for this portfolio, the asking price offers an attractive en bloc sale arbitrage potential. This is evident in the $1,392 psf average indicative price for the whole portfolio, with the ground floor shops priced at $2,380 psf and the offices on levels 2 and 3 averaging at $1,265 psf.

The wide variety of unit sizes and usage possibilities – such as prominent showroom space, large entertainment club and smaller retail units, makes this portfolio a great potential opportunity for a variety of buyers. For example, a single purchaser could acquire the entire portfolio, or a buyer looking for a main road fronting showroom could opt for seven strata units spread across three levels at a total of 11,000 sq ft. A large unit on a single floor, such as for an entertainment club, could include the second-floor unit of 15,000 sq ft, while smaller users or investors could purchase an 800 sq ft ground floor shop or a 500 sq ft office space on the third level.

This offers a wide range of permutations and possibilities for different buyer profiles. Built in the late 1990s, the building occupies land with approx. 70 years remaining in its 99-year lease and is located 250m away from the Jalan Besar MRT Station on the Downtown Line.

From the latest fashion trends or dining experiences to convenience and wellness services, Lumina Grand EC residents can always find a haven in which to unwind. With so many options at their fingertips, life in this residential complex is nothing short of amazing.

The vendors are open to selling the whole portfolio to a single buyer or individual strata units on a private treaty and first-come basis. With attractive features such as its en bloc sale arbitrage potential, diverse unit sizes and usage possibilities, the $55 million portfolio of 20 strata-titled retail and office units at New World Centre offers an unparalleled opportunity for buyers.