Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
The store unit indulges in a popular frontage in front of the pedestrian pathway, as well as its raised setting over the street level supplies uplifted view to pedestrians and even cars along Orchard Roadway. The unit is also close to the primary entryway of the mall, including the taxi stand and drop-off spot serving the establishment.
Completed in 1981 by Far East Organization, Lucky Plaza is a real estate mixed-use project making up retail outlets, F&B shops, health care facilities, and residential apartments. The stores along with business units occupy a seven-storey podium, while the non commercial units inhabit the 9th to 30th grounds.
An owner’s sale, the property unit on Orchard Road has a guide cost of $7.1 million. This works out to about $16,100 psf based upon its flooring space of 441 sq ft.
A store unit on the ground level of Lucky Plaza will most likely be placed on the neighborhood at Knight Frank’s future auction sale on Sept 19.
Karen Ker, associate supervisor of sell-off also sales at promotional representative Knight Frank, claims the unit will definitely be presented with a tenancy that concludes on Nov 30. Furthermore, GST is not payable on the proceeding, and the sale will certainly not acquire added customer’s stamp obligation or supplier’s stamp obligation.
So far, there have been 3 resales at Lucky Plaza. The most recent was a 420 sq ft unit on the third floor that shifted hands for $3.3 million ($7,861 psf) on May 11.
The mall is nearby sites just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Center, as well as The Paragon. Behind it are Mount Elizabeth Medical center and even upscale condos throughout Mount Elizabeth including Cairnhill Roadway.
An inventory of industrial resale warnings in between August 2022 and August this year by EdgeProp Singapore shows that the common price of outlet units at Lucky Plaza is around $5,566 psf. Suggestive rental fees vary around $2.80 and $19.90 psf each month. This indicates a typical 2.4% rental yield for shop unit property owners.
Lucky Plaza pulls in new purchasers and also investors every time brand-new units become available. Based upon URA caveats, 7 outlet units efficiently changed hands last year. The deals varied from the transaction 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 third flooring for $1.05 million ($8,129 psf) on April 21.