Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
A shop unit on the ground level of Lucky Plaza will most likely be put on the neighborhood at Knight Frank’s future auction on Sept 19.
Completed in 1981 by Far East Organization, Lucky Plaza is a property mixed-use property development comprising retail stores, F&B shops, health-related centres, along with non commercial houses. The stores along with business units occupy a seven-storey platform, while the non commercial units occupy the 9th to 30th grounds.
An inventory of commercial resell caveats in between August 2022 and August this year by EdgeProp Singapore presents that the normal price of outlet units at Lucky Plaza is about $5,566 psf. Indicative rental fees differ in between $2.80 and $19.90 psf per month. This indicates a standard 2.4% rental turnout for shop unit landlords.
The shopping center is nearby landmarks just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, and also The Paragon. Behind it are Mount Elizabeth Medical center and also high end condos around Mount Elizabeth including Cairnhill Road.
A business owner’s sale, the estate unit on Orchard Road has an overview cost of $7.1 million. This figures out to roughly $16,100 psf accorded to its flooring area of 441 sq ft.
The store unit indulges in a famous frontage facing the pedestrian pathway, and also its raised placement over the street level offers top visibility to walkers along with cars along Orchard Road. The unit is also near to the primary entryway of the mall, alongside the taxi stand and drop-off spot providing the establishment.
Lucky Plaza entices new buyers and investors every time brand-new units become available. Based on URA caveats, seven outlet units successfully switched hands in 2022. The purchases ranged from the sale of a 538 sq ft unit on the 4th floor for $2.8 million ($5,209 psf) on Dec 7, to the sale of a 129 sq ft unit on the 3rd level for $1.05 million ($8,129 psf) on April 21.
Karen Ker, assistant manager of auction and also sales at promotional representative Knight Frank, states the unit is going to be offered with a tenancy that ends on Nov 30. In addition, GST is not payable on the purchase, and the sale will not incur additional buyer’s stamp responsibility or seller’s stamp obligation.
Until now, there have been 3 resales at Lucky Plaza. The most recent was a 420 sq ft unit on the third flooring that shifted hands for $3.3 million ($7,861 psf) on May 11.