Ultimately, purchasing a condo in Singapore proves to be a wise investment choice due to its numerous benefits. These include a high demand for properties, potential for increased value over time, and attractive rental yields. However, it is crucial to carefully consider various factors, including location, financing options, government regulations, and overall market conditions. By conducting comprehensive research and seeking advice from professionals, investors can make well-informed decisions and maximize their returns in Singapore’s ever-changing real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and lucrative investment opportunity, condos in Singapore present a compelling opportunity.
04 Sep 2021 | A portfolio of freehold strata retail units in Lucky Plaza is up for sale at a total of $52.6 million, making it an attractive investment opportunity for potential buyers. Marketed by Savills Singapore, the mixed-use development is located at Orchard Road, consisting of a residential tower and a six-storey mall with a basement.The portfolio comprises 14 retail units, ranging from 118 to 3,046 sq ft in size, spread across the basement and the first two levels of the mall. Together, they make up a total strata area of 7,266 sq ft. The highlight of the offering, according to Savills Singapore, is a food court spanning seven adjoining strata units, spanning 3,046 sq ft and housing 11 stalls. The remaining retail units are currently tenanted by various businesses such as a pub, retail shops, beauty service providers, and a maid agency.Read also: Flagship stores grow bigger and bolder as luxury brands target millennials and Gen ZThe location of the retail units in Lucky Plaza is expected to benefit from high foot traffic, notes Sophia Lim, director of investment sales and capital markets at Savills Singapore. “The basement food court, in particular, benefits from consistently strong crowds daily,” she continues.For those interested in the food court, the guide price stands at $25.43 million, while the entire portfolio is available at $52.6 million. Individual strata retail units are also available for purchase, with prices starting from $1.1 million. Foreigners and companies are eligible to purchase, and there will be no additional buyer’s or seller’s stamp duty imposed.Lim believes that prime strata freehold retail assets are highly sought-after among investors due to their scarcity and URA’s prohibition on further subdivision of commercial properties along Orchard Road. In addition, she expects the planned revitalisation of the Orchard precinct by URA to contribute to the growth in rental and capital appreciation of Lucky Plaza. For those interested in finding out more about the property, check out the latest listings for Lucky Plaza properties and compare the price trend of resale condos in District 9.