Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
A shop unit on the ground level of Lucky Plaza will be put on the neighborhood at Knight Frank’s coming auction on Sept 19.
So far, there have been 3 resales at Lucky Plaza. The most current was a 420 sq ft unit on the 3rd flooring that switched hands for $3.3 million ($7,861 psf) on May 11.
Lucky Plaza pulls in fresh buyers and real estate investors whenever new units appear. Based upon URA cautions, 7 outlet units effectively switched hands last year. The deals ranged from the transaction of a 538 sq ft unit on the 4th flooring 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.
A tabulation of commercial resale signs between August 2022 and August this year by EdgeProp Singapore shows that the standard rate of outlet units at Lucky Plaza is around $5,566 psf. Suggestive rental fees can vary around $2.80 and $19.90 psf per month. This suggests an average 2.4% rental turnout for shop unit property owners.
The shopping center is close to sites just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Mall, as well as The Paragon. Behind it are Mount Elizabeth Hospital and high end flats around Mount Elizabeth and Cairnhill Road.
An owner’s sale, the property unit on Orchard Roadway has a guide price of $7.1 million. This works out to roughly $16,100 psf based on its flooring space of 441 sq ft.
Karen Ker, assistant supervisor of sell-off and also sales at promotional agent Knight Frank, says the unit will definitely be presented with an occupancy that finishes on Nov 30. Additionally, GST is not owed on the proceeding, and the sale will not incur extra buyer’s stamp responsibility or seller’s stamp duty.
Completed in 1981 by Far East Organization, Lucky Plaza is a real estate mixed-use development making up retail outlets, F&B shops, health care centres, along with household condos. The stores plus business units take up a seven-storey podium, while the non commercial units occupy the 9th to 30th grounds.
The shop unit indulges in a remarkable frontage across the pedestrian pathway, as well as its raised setting on top of the street level gives uplifted view to passerbies along with vehicles along Orchard Roadway. The unit is in addition near to the primary entry of the shopping mall, alongside the taxi stand plus drop-off point serving the building.