Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
A store unit on the ground floor of Lucky Plaza will be placed on the neighborhood at Knight Frank’s coming auction sale on Sept 19.
Lucky Plaza attracts fresh purchasers and clients when new units become available. Based on URA caveats, seven outlet units effectively switched hands last year. The purchases ranged from the sale 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.
An inventory of business resell warnings in between August 2022 and August this year by EdgeProp Singapore presents that the normal cost of outlet units at Lucky Plaza is about $5,566 psf. Indicative rental fees differ between $2.80 and $19.90 psf monthly. This suggests a typical 2.4% rental yield for store unit proprietors.
The shop unit indulges in a remarkable frontage in front of the pedestrian walkway, and also its elevated placement over the street level gives high view to passerbies along with vehicles along Orchard Road. The unit is even close to the major entry of the shopping mall, as well as the taxi stand plus drop-off spot providing the building.
Finished in 1981 by Far East Organization, Lucky Plaza is an estate mixed-use project making up retail industry outlets, F&B shops, health care centres, and residential residences. The stores plus industrial units take up a seven-storey podium, while the housing units occupy the ninth to 30th floors.
Up until now, there have actually been 3 resales at Lucky Plaza. The most latest was a 420 sq ft unit on the third flooring that shifted hands for $3.3 million ($7,861 psf) on May 11.
A proprietor’s sale, the freehold unit on Orchard Roadway has an overview price of $7.1 million. This works out to roughly $16,100 psf based upon its flooring space of 441 sq ft.
The shopping center is nearby spots like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Mall, as well as The Paragon. Behind it are Mount Elizabeth Medical center and upscale condos around Mount Elizabeth including Cairnhill Roadway.
Karen Ker, assistant manager of auction and also sales at promotional representative Knight Frank, states the unit will be featured with a tenancy that ends on Nov 30. In addition, GST is not owed on the transaction, and the sale will not get extra purchaser’s stamp duty or supplier’s stamp obligation.
