Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
An inventory of business resell caveats in between August 2022 and August this year by EdgeProp Singapore proves that the average cost of outlet units at Lucky Plaza is around $5,566 psf. Suggestive rental fees vary in between $2.80 and $19.90 psf each month. This implies an average 2.4% rental turnout for outlet unit proprietors.
Finished in 1981 by Far East Organization, Lucky Plaza is a real estate mixed-use development consisting of retail stores, F&B outlets, health-related facilities, and household houses. The stores and industrial units take up a seven-storey platform, while the non commercial units occupy the 9th to 30th grounds.
Until now, there have been 3 resellings at Lucky Plaza. One of the most current was a 420 sq ft unit on the 3rd flooring that shifted hands for $3.3 million ($7,861 psf) on May 11.
The shopping center is nearby spots include Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Mall, and The Paragon. Behind it are Mount Elizabeth Medical center and upscale condos throughout Mount Elizabeth including Cairnhill Road.
A shop unit on the ground level of Lucky Plaza will be placed on the block at Knight Frank’s future auction on Sept 19.
Karen Ker, assistant manager of auction sale also sales at marketing agent Knight Frank, says the unit will definitely be featured with an occupancy that ends on Nov 30. On top of that, GST is not owed on the proceeding, and the sale will not incur additional customer’s stamp obligation or dealer’s stamp obligation.
A proprietor’s sale, the estate unit on Orchard Road has a guide price of $7.1 million. This calculates to about $16,100 psf based upon its flooring space of 441 sq ft.
The shop unit takes pleasure in a remarkable front view across the pedestrian pathway, as well as its elevated setting on top of the street level supplies high visibility to pedestrians and motor vehicles along Orchard Road. The unit is also near the major entry of the shopping center, including the taxi stand also drop-off point serving the property.
Lucky Plaza pulls in new buyers as well as investors when brand-new units appear. Based upon URA cautions, seven shop units effectively shifted 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 level for $1.05 million ($8,129 psf) on April 21.
