Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf

A store unit on the ground level of Lucky Plaza us going to be put on the neighborhood at Knight Frank’s upcoming sell-off on Sept 19.

An inventory of industrial resell warnings in between August 2022 and August this year by EdgeProp Singapore reveals that the standard rate of store units at Lucky Plaza is about $5,566 psf. Suggestive rents vary in between $2.80 and $19.90 psf each month. This indicates a standard 2.4% rental return for shop unit proprietors.

The shopping center is nearby sites just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Center, as well as The Paragon. Behind it are Mount Elizabeth Hospital and also high end condos along Mount Elizabeth including Cairnhill Roadway.

Lucky Plaza draws in fresh purchasers and clients every time brand-new units become available. Based on URA caveats, 7 store units successfully shifted hands last year. The transactions varied from the revenue 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 3rd floor for $1.05 million ($8,129 psf) on April 21.

Up until now, there have actually been three resellings at Lucky Plaza. One of the most current was a 420 sq ft unit on the third flooring that switched hands for $3.3 million ($7,861 psf) on May 11.

Finished in 1981 by Far East Organization, Lucky Plaza is a property mixed-use property development comprising retail industry outlets, F&B shops, medical centres, and residential apartments. The stores along with industrial units take up a seven-storey platform, while the housing units inhabit the ninth to 30th grounds.

The Botany at Dairy Farm floor plan

A proprietor’s sale, the freehold unit on Orchard Road has an overview rate of $7.1 million. This figures out to around $16,100 psf accorded to its floor area of 441 sq ft.

The store unit takes pleasure in a prominent front view facing the pedestrian pathway, and its elevated position on top of the street level offers uplifted view to pedestrians along with vehicles along Orchard Road. The unit is in addition close to the major entry of the shopping mall, alongside the taxi stand and drop-off spot serving the establishment.

Karen Ker, assistant supervisor of auction and sales at promotional representative Knight Frank, says the unit will definitely be presented with a tenancy that ends on Nov 30. Additionally, GST is not payable on the purchase, and the sale will certainly not acquire additional customer’s stamp duty or dealer’s stamp obligation.

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