Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
The store unit indulges in a famous front view across the pedestrian path, as well as its raised position above the street level supplies high view to walkers and even vehicles along Orchard Road. The unit is in addition near the major entry of the shopping center, as well as the taxi stand also drop-off spot providing the establishment.
Karen Ker, associate supervisor of auction and also sales at marketing representative Knight Frank, claims the unit will be presented with an occupancy that ends on Nov 30. On top of that, GST is not payable on the purchase, and the sale will certainly not incur added customer’s stamp responsibility or dealer’s stamp responsibility.
A shop unit on the ground level of Lucky Plaza us going to be placed on the block at Knight Frank’s upcoming auction sale on Sept 19.
Up until now, there have been three resales at Lucky Plaza. One of the most recent was a 420 sq ft unit on the third flooring that changed hands for $3.3 million ($7,861 psf) on May 11.
An inventory of industrial resale signs in between August 2022 and August this year by EdgeProp Singapore proves that the common rate of store units at Lucky Plaza is about $5,566 psf. Suggestive rentals differ between $2.80 and $19.90 psf per month. This implies a standard 2.4% rental yield for store unit proprietors.
Lucky Plaza pulls in new purchasers and clients when brand-new units appear. Based on URA cautions, 7 store units successfully shifted hands in 2022. The deals ranged from the sale of a 538 sq ft unit on the fourth level 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.
Completed in 1981 by Far East Organization, Lucky Plaza is a freehold mixed-use project comprising retail stores, F&B outlets, health-related centres, also non commercial houses. The stores plus business units inhabit a seven-storey platform, while the housing units occupy the ninth to 30th grounds.
An owner’s sale, the estate unit on Orchard Road has a guide price of $7.1 million. This works out to roughly $16,100 psf accorded to its floor area of 441 sq ft.
The mall is nearby spots just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Mall, as well as The Paragon. Behind it are Mount Elizabeth Medical center and even upscale condominiums throughout Mount Elizabeth and Cairnhill Road.