Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
An inventory of commercial resell warnings between August 2022 and August this year by EdgeProp Singapore presents that the common price of shop units at Lucky Plaza is around $5,566 psf. Suggestive rental fees vary around $2.80 and $19.90 psf per month. This implies a standard 2.4% rental yield for store unit property owners.
Karen Ker, associate manager of auction and also sales at marketing agent Knight Frank, claims the unit is going to be offered with a tenancy that finishes on Nov 30. Furthermore, GST is not payable on the purchase, and the sale will not get additional buyer’s stamp obligation or supplier’s stamp responsibility.
The shopping center is close to spots like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, and The Paragon. Behind it are Mount Elizabeth Hospital and even high end flats along Mount Elizabeth and Cairnhill Road.
An owner’s sale, the property unit on Orchard Roadway has an overview rate of $7.1 million. This calculates to approximately $16,100 psf accorded to its floor area of 441 sq ft.
Up until now, there have been 3 resells at Lucky Plaza. The most current was a 420 sq ft unit on the 3rd flooring that switched hands for $3.3 million ($7,861 psf) on May 11.
A store unit on the ground floor of Lucky Plaza will be placed on the block at Knight Frank’s upcoming auction sale on Sept 19.
Lucky Plaza entices new shoppers as well as real estate investors every time new units become available. Based on URA cautions, seven store units successfully switched hands last year. The purchases varied from the sale of a 538 sq ft unit on the 4th flooring 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 frontage across the pedestrian pathway, and also its elevated placement over the street level supplies uplifted view to pedestrians and cars along Orchard Road. The unit is in addition near the main entrance of the shopping center, as well as the taxi stand also drop-off spot providing the building.
Finished in 1981 by Far East Organization, Lucky Plaza is a property mixed-use property development consisting of retail industry stores, F&B shops, health-related centres, and residential apartments. The shops along with industrial units occupy a seven-storey podium, while the non commercial units occupy the 9th to 30th levels.