Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
An inventory of industrial resell signs between August 2022 and August this year by EdgeProp Singapore reveals that the average cost of store units at Lucky Plaza is about $5,566 psf. Indicative rentals can vary between $2.80 and $19.90 psf per month. This indicates a standard 2.4% rental turnout for store unit property owners.
A proprietor’s sale, the freehold unit on Orchard Roadway has a guide price of $7.1 million. This works out to around $16,100 psf accorded to its flooring area of 441 sq ft.
Until now, there have been three resales at Lucky Plaza. The most recent was a 420 sq ft unit on the 3rd floor that shifted hands for $3.3 million ($7,861 psf) on May 11.
Lucky Plaza draws in fresh purchasers as well as real estate investors whenever brand-new units become available. Based upon URA cautions, seven outlet units effectively changed hands last year. The transactions ranged from the transaction of a 538 sq ft unit on the 4th level 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.
The shop unit enjoys a popular front view across the pedestrian walkway, and also its raised position over the street level provides high view to walkers and vehicles along Orchard Road. The unit is also near the major entry of the shopping mall, including the taxi stand plus drop-off point serving the establishment.
The shopping center is close to landmarks just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, and also The Paragon. Behind it are Mount Elizabeth Medical center and also high end apartments along Mount Elizabeth including Cairnhill Road.
Completed in 1981 by Far East Organization, Lucky Plaza is a freehold mixed-use development consisting of retail outlets, F&B shops, health care facilities, and non commercial condos. The shops along with commercial units occupy a seven-storey podium, while the non commercial units inhabit the ninth to 30th grounds.
Karen Ker, assistant supervisor of auction sale also sales at promotional representative Knight Frank, claims the unit will definitely be featured with a tenancy that ends on Nov 30. In addition, GST is not owed on the purchase, and the sale will certainly not incur added buyer’s stamp responsibility or seller’s stamp duty.
A store unit on the ground floor of Lucky Plaza will be placed on the block at Knight Frank’s coming auction sale on Sept 19.