Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
Lucky Plaza attracts new buyers and clients every time new units become available. Based upon URA cautions, 7 shop units effectively changed hands in 2022. The purchases ranged from the sale 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 level for $1.05 million ($8,129 psf) on April 21.
A tabulation of business resell signs between August 2022 and August this year by EdgeProp Singapore reveals that the average price of outlet units at Lucky Plaza is about $5,566 psf. Suggestive rentals can vary around $2.80 and $19.90 psf monthly. This indicates a typical 2.4% rental yield for shop unit proprietors.
Finished in 1981 by Far East Organization, Lucky Plaza is a freehold mixed-use development comprising retail shops, F&B shops, medical facilities, also non commercial residences. The stores and commercial units inhabit a seven-storey platform, while the non commercial units inhabit the 9th to 30th grounds.
Karen Ker, assistant manager of auction also sales at marketing agent Knight Frank, claims the unit will be presented with an occupancy that concludes on Nov 30. On top of that, GST is not payable on the transaction, and the sale will not have additional purchaser’s stamp obligation or supplier’s stamp duty.
A proprietor’s sale, the property unit on Orchard Road has an overview cost of $7.1 million. This figures out to roughly $16,100 psf based upon its flooring area of 441 sq ft.
The store unit indulges in a prominent frontage across the pedestrian path, as well as its elevated setting above the street level offers top visibility to pedestrians along with cars along Orchard Road. The unit is even near the major entryway of the shopping center, alongside the taxi stand also drop-off spot providing the building.
The shopping mall is near landmarks like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Mall, and also The Paragon. Behind it are Mount Elizabeth Medical center and also upscale condos throughout Mount Elizabeth including Cairnhill Roadway.
A store unit on the ground floor of Lucky Plaza will most likely be placed on the block at Knight Frank’s upcoming sell-off on Sept 19.
So far, there have actually been 3 resells at Lucky Plaza. One of the most recent was a 420 sq ft unit on the third floor that changed hands for $3.3 million ($7,861 psf) on May 11.