Rented for: RM20,000 (RM3.50 psf)

Concluded by: Michael SL Wong (REN 09493) of Dynamic Realtors (012-519 8688)

When: October 2018

Noteworthy:
● Corner lot
● Built-up: about 5,715 sq ft
● Comes with a basement carpark
● Faces a busy intersection
● Located in a mature neighbourhood with housing estates, apartments and ample amenities

Situated along Jalan Kilang in Setapak, Kuala Lumpur, Wangsa Business Avenue (pictured) comprises two rows of 3-storey shoplots completed approximately 10 years ago.

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The 3-storey shoplot in this deal is a corner lot facing the busy intersection of Jalan Kilang and Jalan 2/27a, surrounded by housing estates, apartments and amenities such as schools, supermarkets and eateries.

According to Dynamic Realtors’ Michael Wong who concluded the deal, the new tenant is a furniture company which inked a two-year lease with an option to renew for another two years.

Previously, the shoplot was rented out to a karaoke chain which moved out from the building in June 2018 after renting the space for more than five years, he added.

“Such property is rarely seen on the property market nowadays given its large built-up of about 5,715 sq ft and the good location. On top of that, it also comes with a basement car park, which is able to accommodate up to 10 cars,” he told EdgeProp.my.

“It was not easy to find a tenant for property like this because of its big built-up area. Moreover, the absolute rental of RM20,000 is high and not many are able to afford that, although the psf rental of RM3.50 is quite reasonable.

“However, it is a good fit for the new tenant, which is a furniture company because they are able to showcase their big products at the rented space. They also like the location of the shoplot, where traffic is busy and it faces the main road,” he shared.

There are no listings for Wangsa Business Avenue shops on EdgeProp.my currently, and data on rentals are not immediately available.

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Editor: To real estate agents — Have you just concluded an interesting deal? We would love to hear from you! Contact us at [email protected]