A collection of freehold strata retail units located in Lucky Plaza is currently on the market for a total of $52.6 million through Savills Singapore. The mixed-use development, situated in the popular Orchard Road area, includes a residential tower and a six-storey mall with a basement level.
The 14 retail units being offered for sale are spread across the basement and the first two levels of the mall and vary in size from 118 to 3,046 sq ft. In total, they occupy an area of 7,266 sq ft.
According to Savills Singapore, the most notable feature of this portfolio is a food court occupying seven adjacent strata units, which stretches across a total of 3,046 sq ft and includes 11 stalls. The remaining retail units are currently occupied by a diverse mix of businesses, including a pub, retail shops, beauty services, and a maid agency.
Savills Singapore’s director of investment sales and capital markets, Sophia Lim, believes that the retail units will benefit from the high foot traffic in Lucky Plaza. She says, “The basement food court, in particular, benefits from consistently strong crowds daily.”
The asking price for the food court is $25.43 million, while the entire portfolio is listed at $52.6 million. Individual strata retail units are priced from $1.1 million onwards, and both foreigners and companies can purchase them without incurring additional buyer’s or seller’s stamp duty.
Lim also notes the increasing demand for prime strata freehold retail assets among investors due to their rarity and URA’s prohibition on further strata subdivision of commercial properties along Orchard Road. She expects the planned revitalisation of the Orchard precinct by URA to further boost Lucky Plaza’s rental growth and capital appreciation.
In summary, a freehold strata retail portfolio in Lucky Plaza is available for purchase at $52.6 million through Savills Singapore. The collection consists of 14 units, including a food court and a mix of other businesses, and individual units are priced from $1.1 million onwards. The prime location and scarcity of such assets make them highly sought-after among investors.