This exclusive opportunity to purchase a freehold corner strata retail unit at Lucky Plaza shopping mall, situated in the prime location of Orchard Road, has recently been put on the market for sale. The prestigious property, which spans over 8,800 square feet, is the third largest unit within the mall and is now available for purchase through private treaty. Marketing for the property is exclusively handled by JLL, one of the leading real estate firms in the industry.The impressive unit is located on the sixth floor of Lucky Plaza and is currently being offered at an indicative price of $32 million. This amounts to a reasonable rate of $3,617 per square foot on the strata area. The unit has the added convenience of direct lift and escalator access, making it highly attractive to potential buyers. The space is currently fully occupied by two separate retail operators, and the sale of the property will include the existing tenancies. Additionally, foreigners and entities are eligible to purchase the property without having to pay any additional buyer’s stamp duty or seller’s stamp duty.Terry Wong, the senior director of capital markets at JLL, highlights the rarity of such a property by stating that there are only three similar units in the entire development that exceed 8,000 square feet in size. He also mentions that these assets are rarely put up for sale, signifying the exclusivity of this opportunity. The unit’s size, combined with its wide frontage, offers potential for the future owner to subdivide the space, should they wish to do so.Lucky Plaza is a mixed-use development, comprising 22 storeys of apartments and a six-storey retail podium, including a basement. It was completed in 1978 and is located in the prime area of Orchard Road, with direct underground access to Orchard MRT Station on the North-South and Thomson-East Coast Lines. The recent sale of a basement unit measuring 172 square feet for $1.39 million ($8,064 per square foot) in April, and another third-floor unit measuring 312 square feet for $2.4 million ($7,688 per square foot) in March, reflects the strong demand for commercial properties in this area. Don’t miss out on this exclusive opportunity to own a prized corner strata retail unit at Lucky Plaza, and contact JLL for more information.
