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

The location of Senja Residences EC makes it an ideal home for families and couples. Located close to nature trails, parks, and greenery, life becomes an enjoyable experience.

Putting a freehold shop unit at Lucky Plaza up for sale, Knight Frank is offering the ground floor unit with a guide price of $7.1 million at its upcoming auction on September 19th. With an area of 441 sq ft, this works out to approximately $16,100 psf. Advantages of the unit include an eye-catching and elevated front facing the popular Orchard Road walkway, being close to the mall’s entrance, and a taxi stand conveniently located.Karen Ker, assistant manager of Knight Frank’s auction and sales department, noted that the unit comes with a current tenancy ending on November 30th and that there are no additional buyer’s or seller’s stamp duties applicable. Completed in 1981, Lucky Plaza is a mixed freehold structure consisting of retail shops, F&B outlets, medical centres, and residential accommodation. High-end condos such as those on Mount Elizabeth and Cairnhill Roads are found just behind the building.

Last year saw seven shop units change hands at Lucky Plaza, according to URA records, in transactions ranging from $2.8 million for a 538 sq ft unit on the fourth floor to $1.05 million for a 129 sq ft unit on the third floor. So far in 2021 only one resale of a 420 sq ft unit on the third floor for $3.3 million has been recorded. According to EdgeProp Singapore’s August 2022 to August 2021 commercial resale caveats, the average shop unit price was around $5,566 psf with indicative rents of $2.80 to $19.90 psf per month.

Located in one of Singapore’s prime shopping districts, Lucky Plaza is a popular location for buyers and investors. Its proximity to Tang Plaza, Wisma Atria, Ion Orchard, Ngee Ann City Shopping Centre and The Paragon as well as Mount Elizabeth Hospital all make it a sought-after area. Boasting an impressive 2.4% rental yield, this shop unit has a lot to offer potential buyers and is a great opportunity to invest in a prime Orchard Road property.