Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
The shop unit enjoys a famous front view in front of the pedestrian walkway, and also its elevated setting above the street level offers uplifted visibility to passerbies and vehicles along Orchard Roadway. The unit is also near to the major entrance of the mall, as well as the taxi stand and drop-off spot providing the establishment.
A store unit on the ground level of Lucky Plaza will be put on the block at Knight Frank’s upcoming sell-off on Sept 19.
Lucky Plaza draws in fresh purchasers as well as real estate investors every time new units become available. Based upon URA cautions, seven shop units effectively 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 floor for $1.05 million ($8,129 psf) on April 21.
An owner’s sale, the estate unit on Orchard Roadway has an overview rate of $7.1 million. This figures out to around $16,100 psf based upon its flooring area of 441 sq ft.
Karen Ker, assistant manager of sell-off and sales at marketing representative Knight Frank, claims the unit is going to be featured with an occupancy that ends on Nov 30. In addition, GST is not payable on the transaction, and the sale will not have added purchaser’s stamp duty or dealer’s stamp duty.
Until now, there have actually been 3 resells 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.
The shopping mall is close to landmarks just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Center, and also The Paragon. Behind it are Mount Elizabeth Hospital and also upscale apartments along Mount Elizabeth and Cairnhill Road.
An inventory of industrial resell caveats in between August 2022 and August this year by EdgeProp Singapore reveals that the common rate of outlet units at Lucky Plaza is around $5,566 psf. Indicative rents can vary between $2.80 and $19.90 psf each month. This suggests an average 2.4% rental turnout for store unit landlords.
Completed in 1981 by Far East Organization, Lucky Plaza is a property mixed-use development making up retail industry outlets, F&B outlets, health-related facilities, also household apartments. The shops and commercial units inhabit a seven-storey platform, while the residential units inhabit the ninth to 30th grounds.