Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
Lucky Plaza draws in fresh shoppers as well as clients every time brand-new units become available. Based on URA cautions, 7 outlet units successfully shifted hands last year. The transactions varied 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 3rd flooring for $1.05 million ($8,129 psf) on April 21.
A tabulation of industrial resale signs between August 2022 and August this year by EdgeProp Singapore proves that the normal price of store units at Lucky Plaza is around $5,566 psf. Indicative rental fees vary in between $2.80 and $19.90 psf each month. This implies a typical 2.4% rental turnout for store unit property owners.
A store unit on the ground level of Lucky Plaza will most likely be put on the block at Knight Frank’s upcoming auction on Sept 19.
Karen Ker, associate manager of auction and also sales at marketing agent Knight Frank, says the unit will definitely be featured with an occupancy that finishes on Nov 30. Additionally, GST is not payable on the transaction, and the sale will not have additional purchaser’s stamp obligation or supplier’s stamp responsibility.
A proprietor’s sale, the property unit on Orchard Roadway has an overview cost of $7.1 million. This calculates to about $16,100 psf accorded to its floor space of 441 sq ft.
The shopping center is near spots include Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, as well as The Paragon. Behind it are Mount Elizabeth Medical center and also upscale flats around Mount Elizabeth and Cairnhill Roadway.
The store unit takes pleasure in a remarkable front view facing the pedestrian pathway, and also its elevated position over the street level provides uplifted view to pedestrians and even motor vehicles along Orchard Road. The unit is even near to the primary entry of the shopping center, including the taxi stand also drop-off point providing the property.
Up until now, there have been 3 resellings at Lucky Plaza. The most recent was a 420 sq ft unit on the 3rd flooring that changed hands for $3.3 million ($7,861 psf) on May 11.
Finished in 1981 by Far East Organization, Lucky Plaza is a real estate mixed-use property development consisting of retail stores, F&B outlets, medical centres, also residential houses. The stores plus business units occupy a seven-storey platform, while the non commercial units occupy the ninth to 30th floors.