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

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Hillock Green in Lentor Central

A collection of 20 strata-titled office and retail units located at New World Centre which is a three-storey commercial building located on Jalan Berseh, off Jalan Besar which is for sale at an estimated value of $55million. The whole portfolio comprises a floor space of 39,504 square feet, which is approximately 57% of the total strata area of the building.

Portfolio units can be situated across the three levels of the property. The units on the ground floor are typically used for retail. They also have office space and entertainment spaces on the upper floors.

Hillock Green in Lentor Central District 20 residents will enjoy and profit from the neighbourhood’s ideal blend of a lively urban lifestyle and calm rural settings, which is located in the northern section of Ang Mo Kio town.

According to the marketing agent Delasa The vendors are prepared to sell the entire portfolio to one buyer or to strata units on an individually basis. The suggested price for the entire range of 20 units comes to $55million which is 1,392 per square foot on the total strata space of 39,504 sq feet. The prices indicative for the office spaces on the levels of 2 and 3 are at $1,265 per sq ft and the ground floor stores are valued at an average $2,380 per square foot. The buildings are to purchase on the basis of a private contract and a first-come basis.

New World Centre was built in the latter part of 1990. The three-storey building is comprised of 35 strata-titled office buildings and shops. It’s located on land with 70 years remaining in its 99-year lease. The building is situated about 250m from Jalan Besar Station, which is on the Downtown Line.

“This portfolio will appeal to a wide range of buyers, not just those who want to have the majority of commercial property located in a central, busy area due to its potential for en bloc sale,” says Karamjit Singh who is the director of Delasa. “The asking price is the possibility of an open sale option that could be realized by a consenting about 50% of the remaining owners”.

Singh adds it is possible to purchase the twenty units within the portfolio can be purchased either in a single unit or as clusters with a variety of combinations to fit the types of buyers. For example, a purchaser who is looking for a high-profile main road fronting showroom can choose from seven strata units that are spread over three levels of Jalan Besar. Jalan Besar podium amounting to 11,000 square feet, while those who prefer a larger area on one floor, for example, entertainment venues, can select a second floor one that is 15,000 sq ft. In contrast, smaller customers or investors can purchase in the area of 800 sq feet ground-floor shop or 500 sq feet office on the third floor.

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