Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
The shopping center is nearby landmarks just like Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, as well as The Paragon. Behind it are Mount Elizabeth Hospital and also high end condominiums throughout Mount Elizabeth including Cairnhill Road.
Karen Ker, associate manager of sell-off also sales at marketing agent Knight Frank, claims the unit will be offered with a tenancy that finishes on Nov 30. Additionally, GST is not payable on the purchase, and the sale will not incur added customer’s stamp duty or seller’s stamp duty.
The shop unit takes pleasure in a prominent front view facing the pedestrian path, as well as its elevated placement on top of the street level provides uplifted view to pedestrians and vehicles along Orchard Roadway. The unit is in addition near the primary entry of the shopping center, as well as the taxi stand plus drop-off spot providing the property.
Thus far, there have actually been three resales at Lucky Plaza. One of the most recent was a 420 sq ft unit on the third flooring that switched hands for $3.3 million ($7,861 psf) on May 11.
A business owner’s sale, the freehold unit on Orchard Roadway has a guide rate of $7.1 million. This works out to about $16,100 psf based on its flooring area of 441 sq ft.
An inventory of industrial resell warnings in between August 2022 and August this year by EdgeProp Singapore shows that the common rate of outlet units at Lucky Plaza is about $5,566 psf. Indicative rentals differ around $2.80 and $19.90 psf each month. This implies an average 2.4% rental turnout for outlet unit landlords.
Finished in 1981 by Far East Organization, Lucky Plaza is a real estate mixed-use property development consisting of retail outlets, F&B shops, health care facilities, along with residential apartments. The stores plus business units take up a seven-storey platform, while the residential units inhabit the 9th to 30th levels.
Lucky Plaza draws in new buyers as well as clients every time new units appear. Based on URA cautions, 7 outlet units effectively switched hands last year. The purchases varied from the sale of a 538 sq ft unit on the fourth 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.
A shop unit on the ground level of Lucky Plaza us going to be placed on the block at Knight Frank’s coming sell-off on Sept 19.