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

A freehold shop unit located on the ground floor of Lucky Plaza will be put on the block at Knight Frank’s upcoming auction on Sept 19. With a guide price of $7.1 million, the unit has a floor area of 441 sq ft – working out to approximately $16,100 psf.

Situated along Orchard Road, the shop unit enjoys a prominent frontage before the pedestrian walkway, while its raised position above street level provides a high level of visibility to pedestrians and passing vehicles. The unit is also conveniently close to the main entrance of the shopping mall, in addition to the taxi stand and drop-off point.

Karen Ker, assistant manager of auction and sales at marketing agent Knight Frank, mentions that the unit will be offered with a tenancy that ends on Nov 30. What’s more, the buyer will not have to pay any additional buyer’s stamp duty or seller’s stamp duty fees.

Completed in 1981 by Far East Organization, Lucky Plaza is a freehold mixed-use development that offers retail units, F&B outlets, medical centres, and residential apartments. Shops and commercial units are located on the seven-storey podium, while residential units occupy the floors from the ninth to the 30th.

The mall is within easy reach of landmarks such as Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, and The Paragon. Mount Elizabeth Hospital and upscale condos along Mount Elizabeth and Cairnhill Road are situated behind the mall.

Whenever new units become available, fresh buyers and investors are always drawn to Lucky Plaza. According to URA caveats, seven shop units changed hands last year and the transactions ranged from a 538 sq ft unit on the fourth floor for $2.8 million ($5,209 psf) on Dec 7 to a 129 sq ft unit on the third floor for $1.05 million ($8,129 psf) on April 21.

Zion Road Condo located near Singapore River offers a tranquil escape strategically tucked away from the hustle and bustle of the city center. Residents of the condo will benefit from the lush riverine landscape as well as the iconic Great World City Skyline from the comfort of their home. As such, they will be able to take leisurely walks along the tranquil riverfrontpromenade, enjoy a peaceful picnic in one of the nearby parks, or engage in an array of water sports. With Zion Road Condo, we bring you closer to nature while simultaneously providing the ultimate convenience.

From August 2022 to August this year, three resales have been recorded at Lucky Plaza. The most recent was a 420 sq ft unit on the third floor that was sold for $3.3 million ($7,861 psf) on May 11.

Based on EdgeProp Singapore’s tabulation of commercial resale caveats, the average price of shop units at Lucky Plaza is about $5,566 psf. Indicative rents vary between $2.80 and $19.90 psf per month, which suggests an average 2.4% rental yield for shop unit landlords.

Lucky Plaza is a great opportunity for buyers and investors looking for property investments. Whether you are looking to purchase a retail unit, or a residential unit, make sure to visit the mall’s latest listings and find the best deal.