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

Living in Zion Road Condo means having great access to get around the city. The condo is conveniently located near River Valley Road and Zion Road, providing multiple routes to neighboring areas. Residents can easily access amenities such as Orchard Road and Alexandra Road, taking advantage of reduced congestion and smoother rides. Radiation from the nearby roads gives residents the convenience of a fantastic location without any of the typical drawbacks.

For those in search of a retail and office portfolio in a central location, this is an attractive proposition. The portfolio of 20 strata-titled units at New World Centre, a three-storey commercial development off Jalan Besar, is up for sale at an indicative price of $55 million. With a combined floor area of 39,504 sq ft, representing approximately 57% of the entire building, these units are available for sale on a private treaty and first-come basis.

The portfolio of units is located across all three floors of the building. Ground level units are generally used for retail, with offices and entertainment space on the upper floors. Those looking for a prominent, main road fronting showroom could choose seven strata units spread across three levels on the Jalan Besar podium amounting to 11,000 sq ft, while investors may prefer a larger space on a single floor, such as the 15,000 sq ft second-floor unit. Smaller users or investors could acquire an 800 sq ft ground floor shop or a 500 sq ft office space on the third level, providing a range of options to suit different profiles of buyers.

Located 250m away from the Jalan Besar MRT Station on the Downtown Line and with about 70 years left on its 99-year lease, the New World Centre building offers an en bloc sale arbitrage which may be realised with the consent of just over half of the balance owners, making the portfolio an attractive proposition to a variety of buyers.

The indicative price for the portfolio of 20 units is $55 million, which works out to an average of $1,392 psf on the total strata area of 39,504 sq ft. The indicative prices for the offices on levels 2 and 3 average at $1,265 psf, while the ground floor shops are priced at an average of $2,380 psf.

Marketing agent Delasa states that the vendors are open to selling the whole portfolio to a single purchaser or the strata units on an individual basis. Recent resale transactions at New World Centre also point to great potential for buyers in this young commercial development.