A prime corner retail unit spanning 8,848 sq ft at Lucky Plaza shopping mall along Orchard Road is now available for sale. The rare freehold property, situated on the sixth floor, is the third largest within the mall and is being exclusively marketed by JLL. With an indicative price of $32 million, the unit presents a unique investment opportunity with its strategic location and potential for future subdivision.
According to Terry Wong, senior director of capital markets at JLL, the size and location of the unit make it a highly coveted asset, as there are only three units of its size within the entire development. The unit also offers direct lift and escalator access, providing convenience for both customers and tenants.
The unit is currently fully leased to two separate retail operators and will be sold with existing tenancies. This allows for a stable rental income stream for the future owner. Meanwhile, foreign buyers and entities are eligible to purchase the property without additional buyer’s stamp duty or seller’s stamp duty, making it an attractive option for investors.
Lucky Plaza is a well-established mixed-use development that has been a landmark in the Orchard Road area since its opening in 1978. The 30-storey building comprises of 22 storeys of apartments on top of a six-storey retail podium, with direct underground access to Orchard MRT Station.
When it comes to investing in a condo, financing is a crucial element to consider. Fortunately, Singapore provides various mortgage choices, but it is crucial to keep in mind the Total Debt Servicing Ratio (TDSR) framework. This framework limits the loan amount that a borrower can take based on their income and current debt obligations. As such, it is important for investors to fully understand the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed decisions about their financing options. This can help prevent over-leveraging and ensure successful investments in Singapore Projects.
Based on available caveats, 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, followed by a 312 sq ft unit on the third floor that was sold for $2.4 million ($7,688 psf) in March. The sale of the prime corner unit at $3,617 psf on the strata area presents a potentially lucrative investment opportunity for the buyer.
In addition, the wide frontage and size of the unit offer potential for future subdivision, providing even more value for the future owner. With its prime location and rare size, this corner strata retail unit at Lucky Plaza is a highly desirable property that is rarely available in the market. Don’t miss this opportunity to own a piece of prime real estate on Orchard Road.
The Sen Condo by SL Capital is a luxurious development located at De Souza Avenue, in close proximity to the bustling Beauty World Bukit Timah area. With its modern design and top-notch facilities, residents of The Sen can enjoy a comfortable and convenient lifestyle. The development offers a range of spacious units, from one-bedroom apartments to penthouses, perfect for individuals or families. Its prime location also provides easy access to a variety of amenities, such as shopping malls, restaurants, and schools. With The Sen as your home, you can experience the best of both worlds – a tranquil and serene environment within the vibrant city of Bukit Timah.