Keys Handover

My sifu, Renesial Leong, once said, there is no excitement greater than when you hold the keys to a newly acquired unit and you open the door.  Well said.

And now, sending the vibration to the universe that I could attract my next good tenant asap.

Terminal Pahlawan, Hatten Launch, Aug 2012

Hatten group is launching Terminal Pahlawan which is a new retail hub integrated with bus station. 

It is the new expansion to the famed shopping district of Pahlawan City. With the launching of Terminal Pahlawan, new retail lots are linked to the existing Hatten Square and near the newly opened Hatten Hotel.

COMMERCIAL RETAIL LOTS
Terminal Pahlawan consists of two (2) main blocks interconnecting – Hatten Square Wing and Coaches Wing. Terminal Pahlawan will be providing 30 coaches bay for hotel and tourists.

 *2.5 Acres of Shopping Complex / Retails *4 Floors for Retails with 3 Floors Car Park * Total 250 units  * From 65sf – 1500sf * Expected Completion 2nd Quarter 2015  
Bookings:
* Earnest Deposit of RM10,000 upon booking and signing OTP/OTR
*Leaseback 2 years – Compulsory Lease Back 15% for 2 years
-  7% p.a. guaranteed return for 1st year
-  8% p.a. guaranteed return for 2nd year (hence add together is 15%)
-  Thereafter, the Developer may exercise the option to renew the tenancy for another 2 years at the rental of not less than 8% per annum based on Purchase Price
* Launch Discount of 10% on 10-12 Aug 2012, at Hatten Square Ground Floor  (see note below on 15% discount)
* Legal fees and disbursements on SPA, DMC, TA and PA waived (panel solicitors to be appointed by Developer)
* Legal fees and disbursements on loan documentation to be borne by Purchaser
For more info, call Hatten sales gallery: 06-2812882.
You can check out the unit layout plans here: http://www.hattengrp.com/WebLITE/Applications/news/uploaded/docs/TerminalPahlawan.pdf
Anyone who wishes to purchase a unit, please contact me for recommendation, we will share the cash recommendation fee of RM1,500 (RM750 each).  Happy investing!


An update:  Total buyer's discount is 15% if booking is made before 9 Aug 2012. From 10-12 Aug it is 10%, plus every buyer gets a Samsung note (please confirm with the sales dept, they keep on changing the info.)

Regalia in pictures

Stepping into Regalia for the first time today, with "uncofirmed" information that the VP is in Aug/Sept 2012.

Infinity skydeck pool

Show units

Shang Villa, Kelana Jaya - A Review

In my quest to find a reasonable residential property with good potential for capital appreciation, I researched many, many properties, and finally came upon Kelana Jaya.  This area was suggested to me by the seasoned property investor sinleong.

Sinleong recommended Kelana Jaya around SS7 area due to the fact that Paradigm mall is being built there, which will bring up the Live and Play factors. In addition, Kelana Jaya itself is home to many offices and also close to PJ where people work, live and play.   When I went to survey the area, I also found out that potentially the new KJ LRT extension will have a station somewhere near Kelana Centre Point (researched by Horlic).  

Also, I looked for freehold properties since Kelana Jaya is a predominantly leasehold area and my search turned up Shang Villa, Kelana Parkview and Kelana Sentral.

Further research took me to Shang Villa for a closer look.  A note about the freehold status here, this condo was previously leasehold, and got a conversion to freehold status as confirmed by the developer and the land search.  I was attracted to Shang Villa as it is located within walking distance (700m) to the Kelana Centre Point which is the presumed new LRT station location.

The guardhouse entrance has a card entry system for pedestrians.  The green grounds inside are wide and spacious.  The clubhouse is a short walking distance from the two Blocks A & B.  The clubhouse contains a decent-length swimming pool, a restaurant, a mini market, a hair salon, a squash court and a sauna. The clubhouse looked well-maintained.  I checked out the clubhouse toilet and it was clean. The fact that the mini market, hair salon and restaurant are in business attest to the decent occupancy rate at Shang Villa. 

Guardhouse post

Wide open space with green grounds inside

Walking distance to Manipal University

More greenery

Clubhouse facilities which include a decent size swimming pool

...and a squash court

The thriving mini market

So in my opinion, this is a good location due to:

1. Kelana Jaya is a good area where people work, live and play, although I am not sure about the number of young families staying in this area though.  It seems to me the occupants are working people.

2. Paradigm mall and potential LRT station factor

3. Freehold

4. Rental rate now going for RM1600-2000 (based on asking prices in websites)

Other factors to research:

1. Occupancy mix  (was told that MAS staff and badminton players always rent to stay here, not sure about others)

2. When is the repainting going to start and finish - that will bring up the image of the property which I think had not been repainted since its completion in 1997/98.

3. Actual occupancy rate - 1 agent told me it's 80-90%, but then we must do our own research.

Hope any owners/ tenants in Shang Villa can answer some of these questions.

Updated in June 2013:

Ok, disappointingly, the LRT station is built across the road from Kelana Business Centre.  Hopefully there will be a pedestrian access or shuttle buses to serve the residential area.

Image from: http://www.starproperty.my/index.php/articles/investment/starpropertys-map-of-lrt-extension-stations/

Apartment Hunting

My apartment hunt, which hopefully, results in an acquisition for 2012.

Watch this space for a review of my research ;-)

Klang Valley MRT project

This is a very impressive video created to give us an idea of the stations and stops of the planned MRT project.
I think the MRT project is long overdue, although I do think that it should go underground more than above ground.  And certain high density residential areas are still not covered, like Subang and Subang Jaya.

So if your properties are near the proposed stations, you may be in for greater capital appreciation.

Something exciting is brewing

I am so excited yesterday and today that I cannot sleep. This always happens when I find what I believe is a good deal in property, I act quickly and then because the other party has not said "Deal!" - I'm left in the unknown zone for a day or 2.
Yesterday I've stumbled across my first commercial property.  I hope the deal goes through.  It was an accidental discovery.  I wanted to look at iproperty.com.my at the details of an auction property for my friend during lunch time. When I opened it, suddenly my eyes saw the word: newest listings and found that a property was listed for one of my target areas.  Since it was lunch time, I immediately called the agent and arranged viewing on the same day.

Commercial Properties

Will the owner accept the deal?  Well, I will just have to wait and find out!