Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
Lucky Plaza draws in fresh purchasers and clients every time brand-new units appear. Based on URA cautions, seven outlet units efficiently changed hands last year. The transactions varied from the revenue of a 538 sq ft unit on the 4th floor for $2.8 million ($5,209 psf) on Dec 7, to the sale of a 129 sq ft unit on the 3rd flooring for $1.05 million ($8,129 psf) on April 21.
Karen Ker, assistant supervisor of auction sale and sales at promotional agent Knight Frank, states the unit is going to be offered with a tenancy that finishes on Nov 30. Additionally, GST is not owed on the transaction, and the sale will certainly not have extra customer’s stamp obligation or supplier’s stamp duty.
A business owner’s sale, the property unit on Orchard Roadway has an overview price of $7.1 million. This calculates to approximately $16,100 psf accorded to its floor space of 441 sq ft.
A tabulation of business resell caveats in between August 2022 and August this year by EdgeProp Singapore reveals that the common cost of shop units at Lucky Plaza is approximately $5,566 psf. Suggestive rents can vary around $2.80 and $19.90 psf monthly. This suggests an average 2.4% rental yield for shop unit proprietors.
So far, there have been 3 resellings at Lucky Plaza. The most recent was a 420 sq ft unit on the third floor that shifted hands for $3.3 million ($7,861 psf) on May 11.
The shopping mall is nearby sites just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, and The Paragon. Behind it are Mount Elizabeth Medical center and also high end condos throughout Mount Elizabeth including Cairnhill Road.
Finished in 1981 by Far East Organization, Lucky Plaza is a freehold mixed-use project comprising retail shops, F&B shops, medical facilities, along with household condos. The shops plus commercial units inhabit a seven-storey podium, while the residential units inhabit the 9th to 30th grounds.
A store unit on the ground level of Lucky Plaza will most likely be put on the block at Knight Frank’s coming sell-off on Sept 19.
The store unit takes pleasure in a remarkable frontage facing the pedestrian pathway, as well as its elevated placement above the street level provides high view to passerbies and cars along Orchard Roadway. The unit is even near the major entryway of the shopping mall, alongside the taxi stand also drop-off point providing the establishment.