Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf

The shopping center is near landmarks like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Center, and also The Paragon. Behind it are Mount Elizabeth Hospital and high end condominiums along Mount Elizabeth and Cairnhill Roadway.

A shop unit on the ground floor of Lucky Plaza will be put on the neighborhood at Knight Frank’s coming auction on Sept 19.

Completed in 1981 by Far East Organization, Lucky Plaza is an estate mixed-use project comprising retail outlets, F&B outlets, medical facilities, and household houses. The stores and industrial units take up a seven-storey platform, while the housing units inhabit the ninth to 30th floors.

An owner’s sale, the property unit on Orchard Roadway has an overview price of $7.1 million. This calculates to about $16,100 psf based on its flooring space of 441 sq ft.

Karen Ker, assistant supervisor of sell-off also sales at promotional representative Knight Frank, states the unit is going to be presented with an occupancy that concludes on Nov 30. On top of that, GST is not owed on the proceeding, and the sale will not have additional buyer’s stamp responsibility or dealer’s stamp responsibility.

Sky Eden condominium

Up until now, there have been 3 resales at Lucky Plaza. The most latest was a 420 sq ft unit on the third flooring that changed hands for $3.3 million ($7,861 psf) on May 11.

Lucky Plaza draws in new shoppers as well as real estate investors when new units appear. Based upon URA cautions, seven outlet units effectively changed hands last year. The transactions ranged from the sale of a 538 sq ft unit on the fourth ground 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.

An inventory of commercial resell signs in between August 2022 and August this year by EdgeProp Singapore reveals that the normal rate of store units at Lucky Plaza is around $5,566 psf. Suggestive rentals vary in between $2.80 and $19.90 psf each month. This indicates an average 2.4% rental yield for shop unit landlords.

The shop unit takes pleasure in a famous front view facing the pedestrian pathway, as well as its elevated position above the street level offers high view to pedestrians and even motor vehicles along Orchard Road. The unit is even near to the primary entrance of the shopping center, alongside the taxi stand also drop-off point serving the establishment.

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