_Prime freehold Lucky Plaza strata shop units for sale via Expression of Interest (EOI)
Singapore, 6 February 2025 – International property consultancy Knight Frank Singapore is pleased to announce the sale of three adjacent ground-floor freehold strata shop units at Lucky Plaza via Expression of Interest (EOI).
Key Investment Highlights
Strategically positioned near the mall’s entrance and facing the main atrium, these units boast prominent frontages and enjoy high footfall. The units, currently leased to souvenir retailers, offer sizes of approximately 495 sq ft, 495 sq ft, and 388 sq ft.[i] They are available for sale individually or as a collective portfolio.
Lucky Plaza is one of the Orchard Road shopping belt’s oldest malls, a mixed-use development frequented by tourists and Singapore residents. Surrounded by upscale condominiums, medical facilities and other shopping destinations including Scotts Square, Tang Plaza, Ion Orchard, The Paragon and Mount Elizabeth Hospital, it is directly linked to Orchard MRT station, with a bus-stop at its doorstep providing access to numerous bus routes.
Ms Mary Sai (蔡竺樾), Executive Director, Capital Markets (Land & Building, International Real Estate), Knight Frank Singapore (执行董事,资本市场部, 莱坊), said, “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 the Urban Redevelopment Authority (URA) prohibited further strata subdivision of commercial properties along Orchard Road. Investors can expect immediate rental income from these fully tenanted shop units, and the sale will not incur Additional Buyer’s Stamp Duty or Seller’s Stamp Duty."
Strategic Investment Opportunity in Singapore’s Premier Urban Hub
The Orchard Road precinct continues to see robust interest from investors, driven by ongoing revitalisation efforts led by URA. Recent market activity underscores this trend. Last month, 14 strata shop basement and second-floor units at Lucky Plaza were put up for sale by Far East Organization for S$52.6 million, while Delfi Orchard, an 11-storey freehold commercial building, was sold for S$439 million in June 2024.
Lucky Plaza strata shop units have consistently attracted premium valuations. A 183 sq ft shop on the fourth floor transacted at S$1.29 million (S$7,022 psf) in October 2024. In January 2024, a ground-floor unit measuring 689 sq ft fetched S$10.5 million, or approximately S$15,242 psf.
The asking price for the ground-floor units currently available ranges from S$16,000 psf to S$18,000 psf, reflecting their prime location and investment potential.
Expression of Interest Details
The EOI exercise for these exceptional freehold properties will close on Thursday, 6 March 2025, at 3:00 PM. For more information or to register interest, please contact Knight Frank Singapore.
[i] All strata sizes are approximate and subject to final survey and verification
Photo for use
Source: Knight Frank
For media enquiries, please contact:
Michelle Bong Lejtenyi
Senior Manager, Marketing & Communications, Knight Frank Singapore
michellebong.lejtenyi@sg.knightfrank.com | +65 8893 8248 | +65 6228 6822
Leanne Teo
Director, Marketing, Communications, Legal and Compliance, Knight Frank Singapore
leanne.teo@sg.knightfrank.com | +65 9188 8228 | +65 6228 6825
Notes to Editors
About Knight Frank
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has over 27,000 people, across more than 740 offices in over 50 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. Knight Frank has a strong presence in Singapore with a head office and two subsidiaries: Knight Frank Property Asset Management and KF Property Network. For further information about the Company, please visit www.knightfrank.com.sg.
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