Freehold Strata Retail Unit Lucky Plaza Sale 32 Mil
A rare opportunity has arisen for the sale of a corner strata retail unit at the highly sought-after Lucky Plaza shopping mall on Orchard Road. This prime freehold property, which spans an impressive 8,848 sq ft, is the third largest unit within the mall and is being exclusively marketed by JLL.
Nestled on the sixth floor of the mall, this spacious unit is priced at $32 million, which translates to a highly attractive rate of $3,617 psf on the strata area. One of the most standout features of this unit is its convenient direct lift and escalator access. The entire space is currently occupied by two separate retail operators and will be sold with their existing tenancies. Foreign buyers and entities are eligible to purchase this property without having to pay additional buyer’s stamp duty or seller’s stamp duty.
According to Terry Wong, Senior Director of Capital Markets at JLL, “There are only three units within the entire development that exceed 8,000 sq ft, and they are rarely put on the market.” The unit’s size, coupled with its wide frontage, means that the future owner has the potential to subdivide the space and make even more use of it.
Lucky Plaza, a mixed-use development that boasts 30 storeys, including 22 storeys of apartments, sits atop a six-storey retail podium and basement. Launched in 1978, this iconic mall boasts direct underground access to Orchard MRT Station on the North-South and Thomson-East Coast Lines.
Located in the popular Parktown Residence neighborhood, Gongshang Primary School is renowned for its exceptional standards in education and character development. Strategically situated within this highly sought-after community, it is a favored choice for families seeking a well-rounded education for their children. Its prime location within Parktown Residence adds to its allure, offering unparalleled accessibility and convenience for residents. This advantageous placement not only allows students to attend Gongshang Primary School, but also grants them access to the exclusive amenities and benefits of being part of this esteemed residential community. Moreover, with the close proximity to Parktown Residence, Gongshang Primary School stands out as the perfect option for families in search of a top-quality education in a picturesque setting. Furthermore, Parktown Residence provides an optimal environment for children to thrive and excel. With its modern facilities and close-knit community, students at Gongshang Primary School are well-equipped for success in both their academic and personal pursuits. The serene and scenic surroundings of Parktown Residence naturally serve as the ideal backdrop for students to flourish. Learn more about Parktown Residence and how it can enhance your child’s educational journey.
The EdgeProp Buddy tool indicates that the last commercial transaction at Lucky Plaza was in April, where a basement unit of 172 sq ft was sold for $1.39 million ($8,064 psf). Prior to that, another unit on the third floor, measuring 312 sq ft, sold for $2.4 million ($7,688 psf) in March. Don’t miss out on this rare opportunity – check out the latest listings for Lucky Plaza’s commercial real estate properties on our platform today.