Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf

The store unit indulges in a remarkable front view across the pedestrian walkway, and its elevated position on top of the street level gives high view to passerbies and motor vehicles along Orchard Road. The unit is even near the main entry of the shopping mall, as well as the taxi stand and drop-off spot providing the property.

The mall is near spots include Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Mall, as well as The Paragon. Behind it are Mount Elizabeth Medical center and even high end condos along Mount Elizabeth and Cairnhill Roadway.

Up until now, there have been three resellings at Lucky Plaza. The most current was a 420 sq ft unit on the 3rd floor that changed hands for $3.3 million ($7,861 psf) on May 11.

Lucky Plaza draws in new shoppers as well as clients every time new units become available. Based upon URA cautions, seven outlet units effectively changed hands in 2022. The deals varied from the sale of a 538 sq ft unit on the 4th level for $2.8 million ($5,209 psf) on Dec 7, to the sale of a 129 sq ft unit on the 3rd flooring for $1.05 million ($8,129 psf) on April 21.

Karen Ker, associate supervisor of sell-off and also sales at marketing agent Knight Frank, claims the unit will be featured with an occupancy that concludes on Nov 30. On top of that, GST is not owed on the purchase, and the sale will not acquire added buyer’s stamp obligation or supplier’s stamp obligation.

A store unit on the ground level of Lucky Plaza us going to be placed on the neighborhood at Knight Frank’s future sell-off on Sept 19.

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Completed in 1981 by Far East Organization, Lucky Plaza is a property mixed-use project consisting of retail outlets, F&B outlets, medical centres, and household houses. The stores and commercial units inhabit a seven-storey podium, while the housing units inhabit the 9th to 30th grounds.

A tabulation of industrial resell caveats in between August 2022 and August this year by EdgeProp Singapore presents that the standard rate of shop units at Lucky Plaza is about $5,566 psf. Suggestive rentals differ in between $2.80 and $19.90 psf each month. This suggests an average 2.4% rental return for store unit proprietors.

A business owner’s sale, the property unit on Orchard Road has a guide price of $7.1 million. This figures out to roughly $16,100 psf accorded to its floor space of 441 sq ft.

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