Strata commercial units at New World Centre on sale for $55m

The 20 retail and office units are near the Jalan Besar MRT station.

A portfolio of 20 strata-titled retail and office units at New World Centre is open for sale, with a combined floor area of 39,504 square feet, property investment firm, Delasa said.

The three-storey building New World Centre is situated at the corner of Jalan Besar and Jalan Berseh and was built in the late 1990s.

READ MORE: 10 strata office units at The Plaza on sale for $7.44m

The whole development comprises about 35 strata-titled shops and offices, sitting on land with about 70 years left in its lease.

The whole portfolio can be sold to a single buyer or the strata units on an individual basis. The price works out to an average of $1,392 psf on the total strata area of 39,504 sf. 

The costs of the offices on levels two and three average at $1,265 psf, while the ground floor shops are priced at an average of $2,380 psf. The units are available for sale on a private treaty and first-come basis.

“This portfolio would appeal to a variety of buyers, including those who would love to be able to acquire a majority stake in such a commercial development located in a central and bustling area for its en bloc sale potential,” said Karamjit Singh, CEO of Delasa.

Commercial strata units do not require Additional Buyer’s Stamp Duty so foreigners are eligible to buy the units.