Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
The shopping center is nearby sites 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 upscale flats around Mount Elizabeth and Cairnhill Roadway.
A proprietor’s sale, the freehold unit on Orchard Roadway has an overview cost of $7.1 million. This calculates to about $16,100 psf based upon its flooring space of 441 sq ft.
An inventory of business resell warnings in between August 2022 and August this year by EdgeProp Singapore proves that the common price of outlet units at Lucky Plaza is around $5,566 psf. Suggestive rental fees differ in between $2.80 and $19.90 psf per month. This suggests a standard 2.4% rental yield for outlet unit landlords.
Karen Ker, assistant manager of sell-off and also sales at marketing representative Knight Frank, states the unit will definitely be presented with a tenancy that finishes on Nov 30. Furthermore, GST is not payable on the transaction, and the sale will not acquire additional customer’s stamp duty or dealer’s stamp duty.
The shop unit takes pleasure in a popular front view across the pedestrian path, and its elevated position above the street level gives uplifted view to pedestrians and vehicles along Orchard Road. The unit is also near to the major entry of the shopping mall, alongside the taxi stand and drop-off spot serving the establishment.
Completed in 1981 by Far East Organization, Lucky Plaza is an estate mixed-use project making up retail industry stores, F&B shops, health care facilities, along with non commercial condos. The stores plus commercial units occupy a seven-storey platform, while the residential units occupy the ninth to 30th floors.
A shop unit on the ground level of Lucky Plaza will be placed on the neighborhood at Knight Frank’s future auction on Sept 19.
Lucky Plaza attracts fresh purchasers and also investors when new units become available. Based upon URA caveats, seven outlet units efficiently shifted hands in 2022. The transactions varied from the transaction 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.
Thus far, there have actually been 3 resells at Lucky Plaza. The most current was a 420 sq ft unit on the third floor that changed hands for $3.3 million ($7,861 psf) on May 11.