Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
The shop unit indulges in a remarkable front view in front of the pedestrian pathway, and its elevated position above the street level gives high visibility to pedestrians and even motor vehicles along Orchard Road. The unit is even near to the primary entryway of the mall, as well as the taxi stand and drop-off point serving the building.
Lucky Plaza draws in fresh shoppers and clients whenever new units become available. Based upon URA cautions, seven store units efficiently changed hands last year. The purchases ranged from the transaction of a 538 sq ft unit on the fourth floor for $2.8 million ($5,209 psf) on Dec 7, to the sale of a 129 sq ft unit on the third floor for $1.05 million ($8,129 psf) on April 21.
A business owner’s sale, the estate unit on Orchard Road has a guide rate of $7.1 million. This figures out to approximately $16,100 psf based upon its flooring area of 441 sq ft.
A tabulation of industrial resale signs between August 2022 and August this year by EdgeProp Singapore shows that the standard price of shop units at Lucky Plaza is approximately $5,566 psf. Suggestive rents vary around $2.80 and $19.90 psf per month. This indicates a standard 2.4% rental turnout for shop unit property owners.
The shopping center is close to spots like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Center, and The Paragon. Behind it are Mount Elizabeth Hospital and even upscale condos around Mount Elizabeth and Cairnhill Roadway.
A store unit on the ground floor of Lucky Plaza us going to be placed on the neighborhood at Knight Frank’s future sell-off on Sept 19.
Thus far, there have been 3 resales at Lucky Plaza. One of the most current was a 420 sq ft unit on the third flooring that shifted hands for $3.3 million ($7,861 psf) on May 11.
Karen Ker, assistant supervisor of auction sale also sales at promotional representative Knight Frank, claims the unit will be offered with a tenancy that finishes on Nov 30. Furthermore, GST is not payable on the transaction, and the sale will not acquire extra purchaser’s stamp duty or dealer’s stamp responsibility.
Completed in 1981 by Far East Organization, Lucky Plaza is a freehold mixed-use project making up retail shops, F&B shops, medical centres, along with non commercial condos. The stores along with business units inhabit a seven-storey platform, while the residential units occupy the ninth to 30th grounds.