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

Lucky Plaza attracts fresh purchasers and investors when brand-new units become available. Based upon URA cautions, 7 store units efficiently shifted hands in 2022. The purchases varied from the sale of a 538 sq ft unit on the 4th flooring for $2.8 million ($5,209 psf) on Dec 7, to the sale of a 129 sq ft unit on the third floor for $1.05 million ($8,129 psf) on April 21.

Karen Ker, associate manager of auction sale and sales at promotional agent Knight Frank, states the unit will be presented with an occupancy that ends on Nov 30. Furthermore, GST is not owed on the purchase, and the sale will not get added customer’s stamp obligation or seller’s stamp duty.

A store unit on the ground level of Lucky Plaza will be put on the block at Knight Frank’s coming auction sale on Sept 19.

So far, there have been three resells at Lucky Plaza. The most current was a 420 sq ft unit on the third floor that switched hands for $3.3 million ($7,861 psf) on May 11.

The store unit indulges in a popular frontage facing the pedestrian pathway, and also its raised position above the street level gives high visibility to walkers along with cars along Orchard Road. The unit is in addition close to the major entrance of the mall, including the taxi stand and drop-off point providing the property.

An inventory of commercial resale warnings in between August 2022 and August this year by EdgeProp Singapore reveals that the average cost of store units at Lucky Plaza is about $5,566 psf. Suggestive rentals can vary in between $2.80 and $19.90 psf per month. This suggests a standard 2.4% rental yield for outlet unit property owners.

Tembusu Grand Jalan Tembusu Road

Completed in 1981 by Far East Organization, Lucky Plaza is a property mixed-use development making up retail industry shops, F&B outlets, medical centres, also non commercial houses. The shops plus business units occupy a seven-storey platform, while the non commercial units occupy the 9th to 30th floors.

The shopping mall is close to spots include Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, and also The Paragon. Behind it are Mount Elizabeth Hospital and also upscale flats throughout Mount Elizabeth and Cairnhill Roadway.

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

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