Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
The store unit takes pleasure in a popular front view in front of the pedestrian walkway, and its raised setting on top of the street level supplies high visibility to passerbies and motor vehicles along Orchard Roadway. The unit is in addition close to the primary entryway of the mall, including the taxi stand plus drop-off point serving the establishment.
A store unit on the ground floor of Lucky Plaza will most likely be put on the block at Knight Frank’s coming auction sale on Sept 19.
Karen Ker, associate supervisor of sell-off and also sales at promotional representative Knight Frank, states the unit will definitely be featured with an occupancy that finishes on Nov 30. Furthermore, GST is not owed on the deal, and the sale will not acquire additional purchaser’s stamp duty or supplier’s stamp duty.
A proprietor’s sale, the property unit on Orchard Roadway has a guide cost of $7.1 million. This calculates to roughly $16,100 psf based upon its floor area of 441 sq ft.
Finished in 1981 by Far East Organization, Lucky Plaza is an estate mixed-use development comprising retail shops, F&B outlets, health care centres, also residential residences. The stores along with commercial units occupy a seven-storey podium, while the housing units inhabit the 9th to 30th grounds.
Lucky Plaza attracts fresh purchasers and investors whenever new units become available. Based upon URA caveats, 7 outlet units efficiently changed hands last year. The deals ranged from the transaction of a 538 sq ft unit on the 4th ground 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.
So far, there have been 3 resellings 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.
The shopping center is nearby spots just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Center, as well as The Paragon. Behind it are Mount Elizabeth Medical center and even high end condos throughout Mount Elizabeth including Cairnhill Road.
An inventory of business resale caveats between August 2022 and August this year by EdgeProp Singapore presents that the normal price of shop units at Lucky Plaza is approximately $5,566 psf. Suggestive rental fees differ between $2.80 and $19.90 psf monthly. This suggests a typical 2.4% rental turnout for outlet unit property owners.