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DONE DEAL: Condo unit at Quadro Residences, KLCC

Quadro Residences

Sold for: RM2.46 million (RM1,277 psf)

Concluded by: Chris Lee (REN 11554) of Prestige Realty Sdn Bhd (010-899 8303)

When: November 2016

Noteworthy:
● Freehold
● 1,927 sq ft unit
● Four bedrooms, five bathrooms
● Partly furnished
● Low density
● Facilities and services include 24-hour concierge service, gymnasium, infinity pool, sky bar, sky deck, launderette, convenience store
● Accessible via Jalan Ampang, Jalan Sultan Ismail and the Ampang-Kuala Lumpur Elevated Highway

Developed by Monoland Corporation Sdn Bhd, Quadro Residences is a luxury condominium development located in Kuala Lumpur city centre. Its address is No 1, Persiaran KLCC.

The freehold development houses just 245 units in a 36-storey building, thus making it a low density and exclusive project.

The 1,927 sq ft unit which was sold for RM2.46 million enjoys an unobstructed view of KLCC Park and the Petronas Twin Towers, Prestige Realty Sdn Bhd sales and leasing manager Chris Lee, who closed the deal, told TheEdgeProperty.com.

“The previous owner is a foreigner who used to work in Kuala Lumpur. He sold this unit as he was going back to his own country,” Lee explained.

He said the previous owner’s initial asking price was RM2.6 million and it was on the market for eight to nine months.

“Hence, the seller was willing to let go of the unit at a slightly lower price of RM2.46 million to a foreign investor. The investor plans to rent out the unit,” Lee said, adding that the current rental per month at Quadro Residences is RM8,000 to RM10,000.

According to data from TheEdgeProperty.com, units at Quadro Residences have been transacted at an average price of RM2.56 million, or RM1,210 psf, in the first nine months of 2016.

The available listings on TheEdgeProperty.com showed that the average asking price (as of March 2017) for units at Quadro Residences is RM2.57 million while the  average monthly asking rent is RM9,802 or RM4.97 psf, with an indicative asking rental yield of 5%.

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