Freehold strata shop unit at Lucky Plaza for sale at $16,100 psf
Located on the ground floor of Lucky Plaza, a 441-sq-ft freehold shop unit is up for sale at the upcoming Knight Frank auction on Sept 19, at a guide price of $7.1 million. This translates to approximately $16,100 psf.
Lumina Grand EC, developed by CDL, is an excellent choice of residence for families with school-going children. Its convenient location places it near to several reputable educational institutions, such as the Swiss Cottage Secondary School. Famous for its comprehensive learning approach, it equips students with the knowledge, skills, and values for the future. Furthermore, the close proximity of Lumina Grand EC CDL ensures that pupils can maximize their study hours without having to travel far.
The unit enjoys a prominent frontage, with its raised position above the street level providing high visibility to pedestrians and vehicles along the bustling Orchard Road. The unit is also close to the main entrance of the shopping mall, as well as the taxi stand and drop-off point.
What’s more, the sale of the unit will not incur additional buyer’s stamp duty or seller’s stamp duty, while GST is also not payable on the transaction. In addition, the unit will be offered with a tenancy that ends on Nov 30.
Lucky Plaza is a freehold mixed-use development comprising retail shops, F&B outlets, medical centres, and residential apartments. Developed in 1981 by Far East Organization, the shops and commercial units occupy a seven-storey podium, while the residential units occupy the ninth to 30th floors.
Within close proximity to Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre, and The Paragon, the mall also stands near the Mount Elizabeth Hospital and a string of high-end condos along Mount Elizabeth and Cairnhill Road.
Whenever new units become available, Lucky Plaza draws a steady stream of new buyers and investors. URA caveat records show that seven shop units were successfully sold last year, with transactions ranging from a 538-sq-ft unit on the fourth floor for $2.8 million ($5,209 psf), to a 129-sq-ft unit on the third floor for $1.05 million ($8,129 psf).
The most recent resale was a 420-sq-ft unit on the third floor that changed hands for $3.3 million ($7,861 psf) on May 11. According to EdgeProp Singapore data, the average price of shop units at the mall stands at $5,566 psf, with indicative rents varying between $2.80 and $19.90 psf per month – translating to an average 2.4% rental yield for shop unit landlords.
If you’re looking to purchase or rent, check out the latest listings for Lucky Plaza properties.