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Freehold Lucky Plaza retail unit for sale at $15 mil

/ EdgeProp Singapore |

May 20, 2022 2:45 PM SGT

SINGAPORE (EDGEPROP) - A ground-floor retail unit at Lucky Plaza has been put up for sale by expression of interest. The unit is being offered at an indicative guide price of $15 million, according to CBRE, the sole marketing agent for the sale of this property.

See also: Seven strata retail units at Orchard for sale at $18.8 mil

If the unit is sold at that indicative price, it would translate to about $22,123 psf on the existing strata area.

The 678 sq ft retail unit is beside the main entrance of Lucky Plaza shopping mall, and it is currently tenanted to a convenience mart. The unit enjoys high footfall as it has a prominent location. According to CBRE, the unit features a dual frontage, one along Orchard Road and the other within the mall’s interior arcade.

“This is a rare and compelling opportunity for both investors and owner-occupiers to acquire a ground-floor retail unit within a mall on Orchard Road. Orchard Road-facing freehold retail properties units are usually tightly held and seldom made available for sale,” says Michael Tay, head of capital markets, Singapore, at CBRE.

Locals and foreigners are eligible to purchase this property, which is zoned for commercial use. No additional buyer’s stamp duty or seller’s stamp duty will be imposed on the purchase.

The unit will likely appeal to owner-occupiers who will benefit from the shop's prominent location, and investors can enjoy immediate rental from the property.

The expression of interest exercise for this property closes on June 16.

Check out the latest listings near Lucky Plaza

Tags:

retail lucky plaza freehold

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