International property consultancy Knight Frank Singapore has announced the sale of three adjacent ground-floor freehold strata shop units at Lucky Plaza, a prominent shopping destination on Orchard Road. The sale, conducted via Expression of Interest (EOI), offers potential investors a rare opportunity to acquire prime retail space in one of Singapore’s most sought-after locations.
The units, strategically located near the mall’s entrance and facing the main atrium, are currently leased to souvenir retailers. They measure approximately 495 sq ft, 495 sq ft, and 388 sq ft, and can be purchased individually or as a collective portfolio. Mary Sai, Executive Director of Capital Markets at Knight Frank Singapore, highlighted the scarcity of such properties, noting that “the supply of freehold strata retail properties along Orchard Road has remained limited since March 2022.”
Lucky Plaza is a mixed-use development frequented by both tourists and locals, surrounded by upscale condominiums, medical facilities, and other shopping destinations. It is directly linked to Orchard MRT station, enhancing its accessibility. The units are expected to attract significant interest, as they offer immediate rental income without incurring Additional Buyer’s Stamp Duty or Seller’s Stamp Duty.
The EOI exercise closes on 6 March 2025 at 3:00 PM. Recent market activity in the area underscores the investment potential, with similar properties fetching premium prices. The asking price for the available units ranges from S$16,000 psf to S$18,000 psf, reflecting their prime location and high demand.
