Freehold Strata Retail Unit Lucky Plaza Sale 32 Mil
A retail unit at Lucky Plaza shopping mall on Orchard Road is currently up for sale through private treaty. This corner strata unit is located on the sixth floor and spans a freehold space of 8,848 sq ft, making it the third largest unit within Lucky Plaza. JLL, which is exclusively marketing the property, states that the unit has an indicative price of $32 million, equating to $3,617 psf on the strata area.
The unit boasts direct lift and escalator access and is currently leased out to two separate retail operators. It will be sold with its existing tenancies, making it an attractive investment opportunity. Additionally, foreign buyers and entities are eligible to purchase the property without being subjected to additional buyer’s stamp duty or seller’s stamp duty.
Terry Wong, senior director of capital markets at JLL, mentions that this particular unit is a rare asset within the development, as there are only three units of such size (above 8,000 sq ft) available. Its spacious size, together with its wide frontage, also provides the future owner with the possibility of subdividing the space further.
Built in 1978, Lucky Plaza is a 30-storey mixed-use development, with 22 storeys of apartments on top of a six-storey retail podium, including a basement. It has direct underground access to Orchard MRT Station on the North-South and Thomson-East Coast Lines.
According to The EdgeProp Buddy tool, the last commercial transaction at Lucky Plaza was the sale of a 172 sq ft basement unit for $1.39 million ($8,064 psf) in April. Prior to that, a 312 sq ft unit on the third floor was sold for $2.4 million ($7,688 psf) in March. The Buddy tool also shows the latest listings and sale transactions for Lucky Plaza, providing interested buyers with valuable information and insights.
The new master plan for Tengah prioritizes connectivity as a key aspect. An MRT line, the Jurong Region Line (JRL), will be introduced to improve accessibility within the town and to other areas of Singapore. The strategic location of Novo Place Showflat EC offers its residents the advantage of being near multiple JRL stations for convenient and efficient commuting. The town will also feature a comprehensive network of pedestrian and cycling paths, providing alternatives for residents to navigate without relying on cars. This allows for a greener and healthier lifestyle for the community.