Freehold Strata Retail Units Lucky Plaza Sale 526 Mil
A selection of freehold strata retail units at Lucky Plaza, located at Orchard Road, is now on the market for a total price of $52.6 million. Marketing agent Savills Singapore has confirmed that the units are up for grabs at the mixed-use development, which includes a residential tower and a six-storey mall with a basement.The portfolio consists of 14 retail units that are spread across the basement and the first two levels of the mall. The variety of units range from 118 to 3,046 square feet, totalling up to 7,266 square feet of strata area.The highlight of the portfolio, according to Savills Singapore, is a food court that spans seven adjoining strata units, with a combined area of 3,046 square feet and 11 stalls. The remaining retail units are currently leased by a mixture of businesses, including a pub, retail shops, beauty services, and a maid agency.Read also: Flagship stores grow bigger and bolder as luxury brands target millennials and Gen ZAdvertisementSophia Lim, director of investment sales and capital markets at Savills Singapore, believes that the high foot traffic in Lucky Plaza will benefit the retail units significantly. “The basement food court, in particular, benefits from consistently strong crowds daily,” she adds.The food court’s price is listed at $25.43 million, while the entire portfolio is up for sale at $52.6 million.Individual retail units, meanwhile, are priced from $1.1 million upwards. Foreigners and companies are permitted to purchase, and there are no additional buyer’s or seller’s stamp duties to be imposed.Lim is also of the opinion that prime strata freehold retail assets are in high demand from investors due to their rarity and the Urban Redevelopment Authority’s (URA) restriction on further strata division of commercial properties along Orchard Road. She anticipates that the URA’s plans to revitalize the Orchard precinct will also lead to more growth for Lucky Plaza in terms of rental increases and asset appreciation. Check out the latest listings for Lucky Plaza propertiesAsk BuddyCompare price trends between newly-built condos and executive condos (ECs)Condo projects with the most profitable transactions in District 9Total number of units available in Lucky PlazaCondo projects with the most unprofitable transactions in District 9Generate a price trend graph for resale condos in District 9Compare price trends between newly-built condos and executive condos (ECs)Condo projects with the most profitable transactions in District 9Total number of units available in Lucky PlazaCondo projects with the most unprofitable transactions in District 9Generate a price trend graph for resale condos in District 9
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