Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
Lucky Plaza draws in new shoppers and real estate investors when brand-new units appear. Based on URA cautions, 7 shop units successfully changed hands last year. The deals varied from the revenue of a 538 sq ft unit on the 4th flooring for $2.8 million ($5,209 psf) on Dec 7, to the sale of a 129 sq ft unit on the third flooring for $1.05 million ($8,129 psf) on April 21.
Up until now, there have been 3 resellings at Lucky Plaza. One of the most current was a 420 sq ft unit on the third floor that shifted hands for $3.3 million ($7,861 psf) on May 11.
A proprietor’s sale, the freehold unit on Orchard Roadway has an overview rate of $7.1 million. This figures out to roughly $16,100 psf based on its floor area of 441 sq ft.
Karen Ker, associate manager of auction and sales at marketing agent Knight Frank, states the unit will definitely be presented with a tenancy that finishes on Nov 30. Furthermore, GST is not payable on the deal, and the sale will not have extra customer’s stamp duty or seller’s stamp responsibility.
The shop unit takes pleasure in a famous front view across the pedestrian walkway, as well as its raised placement above the street level gives top visibility to pedestrians and even cars along Orchard Roadway. The unit is also near to the primary entryway of the mall, including the taxi stand plus drop-off point providing the establishment.
A store unit on the ground floor of Lucky Plaza will most likely be placed on the block at Knight Frank’s coming sell-off on Sept 19.
Finished in 1981 by Far East Organization, Lucky Plaza is a property mixed-use property development comprising retail industry shops, F&B outlets, health care facilities, along with household residences. The stores and commercial units occupy a seven-storey platform, while the non commercial units occupy the ninth to 30th levels.
An inventory of business resell caveats in between August 2022 and August this year by EdgeProp Singapore shows that the standard price of outlet units at Lucky Plaza is about $5,566 psf. Suggestive rents differ in between $2.80 and $19.90 psf monthly. This implies a typical 2.4% rental yield for store unit property owners.
The mall is near landmarks include Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Center, and The Paragon. Behind it are Mount Elizabeth Hospital and high end apartments throughout Mount Elizabeth including Cairnhill Road.