The sought-after retail units in Lucky Plaza, a mixed-use development situated in Orchard Road, are now up for grabs. With Savills Singapore as its marketing agent, a portfolio of 14 freehold strata units is available for sale at a total of $52.6 million.The units, ranging in size from 118 to 3,046 sq ft, are spread across the basement and first two levels of the six-storey mall. This adds up to 7,266 sq ft of strata area in total. According to Savills Singapore, the standout feature of this offering is a food court that spans seven adjoining strata units, totalling 3,046 sq ft and accommodating 11 stalls. The remaining units are currently tenanted by a mix of businesses, including a pub, retail shops, beauty service providers, and a maid agency.Experts believe that these retail units will benefit from high foot traffic due to their prime location in Lucky Plaza. The basement food court, in particular, is expected to see consistently strong crowds on a daily basis. Savills Singapore’s director of investment sales and capital markets, Sophia Lim, says that the property’s prime location and high demand for freehold strata retail assets will drive up its value in terms of rental growth and capital appreciation.The guide price for the food court is $25.43 million, while the entire portfolio is available for $52.6 million. Meanwhile, individual strata retail units are priced from $1.1 million onwards. Both foreigners and companies are eligible to purchase, and no additional buyer’s or seller’s stamp duty will be imposed.Investors are attracted to these prime strata freehold retail assets due to their scarcity and Urban Redevelopment Authority’s (URA) prohibition on further strata subdivision of commercial properties along Orchard Road. URA’s planned revitalisation of the Orchard precinct is expected to provide further upside for Lucky Plaza in terms of rental growth and capital appreciation. Don’t miss this opportunity to own a piece of prime real estate in one of the most sought-after locations in Singapore.
Investing in a condominium in Singapore has recently gained traction among both local and foreign investors, thanks to the country’s thriving economy, stable political climate, and top-notch quality of life. With numerous opportunities in the real estate market, condos have emerged as a popular choice for their convenience, amenities, and potential for high returns. For those interested in investing in a condo in Singapore, this article will delve into the advantages, factors to consider, and necessary steps to take, with a special focus on Singapore Projects.