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Investing in a condo in Singapore has many notable benefits, with one of the most significant being the potential for capital appreciation. As a leading global business hub, Singapore’s strong economic foundations continuously drive demand for real estate. As a result, property prices have consistently risen in the country, particularly in prime locations where condos are situated. By purchasing a condo at the opportune time and holding onto it for the long term, investors can reap the rewards of significant capital gains. For instance, new condo launches in desirable locations have proven to be a lucrative investment for those who have held onto their properties over the years.
Are you interested in getting a piece of prime commercial property in the bustling Orchard Road area? Look no further than Lucky Plaza, where a portfolio of freehold strata retail units is now available for purchase.The portfolio, marketed by Savills Singapore, comprises 14 retail units spread across the basement and the first two levels of the mixed-use development. With a total strata area of 7,266 sq ft, the units range in size from 118 to 3,046 sq ft. This rare opportunity presents a total asking price of $52.6 million.Located at 304 Orchard Road, Lucky Plaza is a popular destination for both locals and tourists alike. The development features a residential tower on top of a six-storey mall, offering a wide range of shops and services from fashion and beauty to food and beverages. Currently, the retail units in Lucky Plaza are tenanted by a mix of businesses including a pub, retail shops, beauty service providers, and a maid agency.According to Savills Singapore, the highlight of this offering is the food court, which spans seven adjoining strata units and accommodates 11 stalls. This bustling food court, with a total area of 3,046 sq ft, is expected to benefit from consistently high foot traffic daily.Investors can choose to purchase the entire portfolio or individual strata units, with prices starting from $1.1 million. Both foreigners and companies are eligible to purchase, and no additional buyer’s or seller’s stamp duty will be imposed.This opportunity could not have come at a better time, as prime strata freehold retail assets are in high demand among investors due to their scarcity. Furthermore, URA’s prohibition on further strata subdivision of commercial properties along Orchard Road means that this could be one of the last chances to acquire such a coveted property in this prime location. The upcoming revitalisation of the Orchard precinct by URA is expected to bring about further upside for Lucky Plaza, in terms of rental growth and capital appreciation.Sophia Lim, director of investment sales and capital markets at Savills Singapore, believes that this portfolio represents a rare opportunity for investors to acquire a prized commercial property in one of the most sought-after locations in Singapore. Don’t miss out on the potential for great returns from this freehold strata retail unit portfolio in Lucky Plaza.