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

A business owner’s sale, the property unit on Orchard Road has a guide rate of $7.1 million. This calculates to approximately $16,100 psf based upon its flooring space of 441 sq ft.

Completed in 1981 by Far East Organization, Lucky Plaza is a real estate mixed-use property development consisting of retail outlets, F&B outlets, health care facilities, and residential residences. The shops along with industrial units inhabit a seven-storey podium, while the residential units occupy the 9th to 30th levels.

A store unit on the ground floor of Lucky Plaza will be placed on the block at Knight Frank’s upcoming sell-off on Sept 19.

Until now, there have been three resells 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.

A tabulation of industrial resale signs between August 2022 and August this year by EdgeProp Singapore presents that the standard cost of store units at Lucky Plaza is approximately $5,566 psf. Suggestive rentals differ around $2.80 and $19.90 psf monthly. This implies a standard 2.4% rental yield for outlet unit landlords.

TMW Maxwell Singapore

Lucky Plaza pulls in fresh buyers and clients when new units become available. Based on URA cautions, seven outlet units efficiently shifted hands last year. The deals varied from the sale of a 538 sq ft unit on the fourth ground 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.

The store unit takes pleasure in a popular frontage across the pedestrian walkway, and also its raised placement above the street level supplies high view to walkers along with cars along Orchard Road. The unit is even close to the main entry of the shopping center, as well as the taxi stand and drop-off point serving the property.

Karen Ker, associate supervisor of auction also sales at promotional agent Knight Frank, claims the unit will be featured with an occupancy that ends on Nov 30. Additionally, GST is not owed on the deal, and the sale will not incur extra buyer’s stamp duty or supplier’s stamp obligation.

The shopping mall is nearby spots just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, and The Paragon. Behind it are Mount Elizabeth Hospital and high end condos along Mount Elizabeth including Cairnhill Roadway.

error: Content is protected !!