Three adjoining shop units on the ground floor of Lucky Plaza are up for sale at indicative prices ranging from $16,000 tp $18,000 psf. They are on the market for sale by expression of interest (EOI), with Knight Frank Singapore as the marketing agent.
Lucky Plaza is a freehold strata-titled mixed-use development with shops, offices and apartments along prime Orchard Road. One of the oldest malls along Singapore’s most famous shopping street, it was developed by Far East Organization and built in 1981. In the vicinity are other landmarks such as Tang Plaza, Ion Orchard, The Paragon and Mount Elizabeth Hospital and Medical Centre. The mall is also within walking distance of the Orchard Road MRT Station.
The trio of ground-floor shops at Lucky Plaza front the atrium, hence they enjoy high visibility and foot traffic, according to Mary Sai, executive director of capital markets at Knight Frank Singapore.
The three shop units for sale are on the ground floor, fronting the atrium. They are currently leased to souvenir shops, and are available for sale individually or collectively (Photo: Knight Frank Singapore)
Two units are sized at 495 sq ft, while the third is 388 sq ft. The units are available for sale individually or collectively. They are currently leased to souvenir shops. Based on the indicative psf price range, absolute prices for the units range from $6.208 million to $8.91 million.
In January, a portfolio of 14 shops on the second floor of Lucky Plaza was put up for sale at $52.6 million.
Knight Frank’s Sai states that Luck Plaza strata shops have consistently commanded premium pricing. Based on caveats lodged, the latest transaction was for a 183 sq ft unit on the fourth floor that changed hands for $1.285 million ($7,022 psf) in October 2024.
In January 2024, a 689 sq ft unit on the ground floor fetched $10.5 million ($15,242 psf). “Such properties are hard to come by, given how the supply of freehold strata retail properties along Orchard Road has remained limited since March 2022 when URA prohibited further strata subdivision of commercial properties along Orchard Road,” says Knight Frank’s Sai.
The EOI exercise for the retail units on the first level will close at 3pm on Mar 6.
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