Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
Lucky Plaza draws in fresh shoppers and real estate investors every time brand-new units appear. Based upon URA caveats, seven shop units efficiently changed hands in 2022. The deals varied from the sale of a 538 sq ft unit on the fourth 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.
The store unit takes pleasure in a popular front view across the pedestrian path, and its raised placement over the street level offers uplifted view to walkers and motor vehicles along Orchard Road. The unit is also near the main entrance of the shopping mall, alongside the taxi stand also drop-off point providing the building.
The shopping mall is near sites include Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Center, and The Paragon. Behind it are Mount Elizabeth Hospital and even upscale flats along Mount Elizabeth and Cairnhill Roadway.
A store unit on the ground level of Lucky Plaza will be put on the neighborhood at Knight Frank’s future auction on Sept 19.
An owner’s sale, the estate unit on Orchard Roadway has a guide cost of $7.1 million. This works out to around $16,100 psf accorded to its floor space of 441 sq ft.
An inventory of commercial resale caveats in between August 2022 and August this year by EdgeProp Singapore shows that the common price of shop units at Lucky Plaza is around $5,566 psf. Indicative rents can vary around $2.80 and $19.90 psf per month. This implies a standard 2.4% rental turnout for shop unit proprietors.
Up until now, there have actually been three resellings at Lucky Plaza. The most recent was a 420 sq ft unit on the 3rd flooring that changed hands for $3.3 million ($7,861 psf) on May 11.
Karen Ker, associate manager of auction and also sales at promotional agent Knight Frank, says the unit is going to be presented with an occupancy that concludes on Nov 30. In addition, GST is not owed on the purchase, and the sale will not incur additional purchaser’s stamp responsibility or supplier’s stamp responsibility.
Finished in 1981 by Far East Organization, Lucky Plaza is a real estate mixed-use property development consisting of retail outlets, F&B shops, health-related facilities, and non commercial houses. The stores plus industrial units occupy a seven-storey platform, while the residential units occupy the 9th to 30th levels.