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Market price around RM270 - RM 280 per sq ft i would say, depending on the level of renovation done for the unit and the number of car parks available. Standard car parks available should be 2 for each unit. The price is deem fair based on the recent new launches around the area, One South and the Academia project which is to be built on top of South City Plaza both commanding above RM 300 per sq ft pricing. And the existing neighbour East Lake which is a more premium project asking price is already in the region of RM 350 per sq ft and above. Gross rental yield pretty attractive too around 7% with plenty of demand due to its proximity to colleges/varsities and some offices around the area. SEGI, UPM, Mines Shopping Fair, ICHS, the huge TPM area, Astro HQ, Sapura Crest, Palace of the Golden Horses all within 5-8 minutes of driving. Very convenient with walking distance to the shops house beside South City which consists of PapaRich, 99 Supermart, KK supermart, laundry shops, CIMB Bank, Hong Leong Bank. Eating also alot choices with many restaurants, food court/mamak around the area too. The apartment surprisingly has got a very active Joint Management Body, so far maintenance is well taken care of, adequate security personnels patrolling and CCTVs installed. Future catalyst on the whole Serdang Perdana area would come from
1. The level of success achieved by One South project by Hua Yang. With its office/condo/service suites/shopping mall all in one concept. So far launches mostly very well received which is not surprising. Have a feeling it will do well, but the key thing will be proper management of its shopping lots tenancy mix. Would be great if the developer Hua Yang can convince the government to integrate its project with KTM / ERL link which is just fronting this project while the station could be placed at the empty land next to the Nouvelle Hotel (formerly known as Mint Hotel) but not sure which party owns the land currently. Give it a go Hua Yang, perhaps you could lobby the government to build the station extension under the ETP initiative to improve the transportation network in Klang Valley. Even a 50/50 cost sharing basis between you and Government could easily be covered back by the value creation to the entire project. 2. The revamping of South City Plaza with the new Academia project. Population flow would increase and more people accessing the mall will drive in new tenants. Location wise no issues, but the thing with South City Plaza is the management is not keen in improving the mall. The way i understood is because this place is owned by AmanahRaya REIT, and the entire building(including mall/college) is 100% leased to SEGI college which in turn do not bother much other than sub-leasing to one key tenant in Giant. They are not willing to fork out money to invest in the mall to bring in new traffic. Therefore the condition in the mall is not that appealing. But hopefully with the Academia project shaping up, the management would think otherwise cuz it basically means potential recurring rental revenue lost to them for not leasing out the space within this mall. 3. The nearby Serdang old village has come of age. The younger generation are better educated and become more affluent and start moving out. And some will be looking at this Serdang Perdana area too because of its close proximity but yet better quality housing and easier accessibility compared to the narrow roads of the old village. http://fortuneparkapartment.blogspot.com/ |
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