Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
A proprietor’s sale, the property unit on Orchard Road has an overview rate of $7.1 million. This works out to around $16,100 psf based upon its flooring space of 441 sq ft.
Karen Ker, assistant manager of sell-off and also sales at promotional agent Knight Frank, states the unit is going to be offered with an occupancy that finishes on Nov 30. Additionally, GST is not payable on the purchase, and the sale will certainly not acquire added buyer’s stamp obligation or dealer’s stamp duty.
The shop unit indulges in a prominent frontage across the pedestrian path, as well as its elevated position on top of the street level offers uplifted visibility to walkers and vehicles along Orchard Road. The unit is even near the main entryway of the shopping mall, as well as the taxi stand plus drop-off spot serving the building.
The Botany at Dairy Farm Sim Lian Group
A store unit on the ground level of Lucky Plaza will most likely be placed on the block at Knight Frank’s coming sell-off on Sept 19.
The shopping mall is nearby landmarks 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 apartments throughout Mount Elizabeth and Cairnhill Road.
So far, there have actually been three resellings at Lucky Plaza. The most current was a 420 sq ft unit on the third flooring that shifted hands for $3.3 million ($7,861 psf) on May 11.
Finished in 1981 by Far East Organization, Lucky Plaza is a freehold mixed-use property development making up retail industry shops, F&B shops, health care facilities, and residential residences. The shops plus business units occupy a seven-storey podium, while the non commercial units occupy the ninth to 30th levels.
A tabulation of industrial resell caveats between August 2022 and August this year by EdgeProp Singapore shows that the common cost of outlet units at Lucky Plaza is approximately $5,566 psf. Suggestive rents vary between $2.80 and $19.90 psf each month. This implies a standard 2.4% rental return for shop unit proprietors.
Lucky Plaza draws in new shoppers as well as real estate investors every time brand-new units appear. Based on URA caveats, seven shop units effectively shifted hands last year. The deals varied from the sale of a 538 sq ft unit on the 4th 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.