DONE DEAL: Four-storey shopoffice, Damansara Uptown, Damansara Utama, Petaling Jaya

Sold for: RM3.35 million

Concluded by: Jacob Chin (REN 06912) of Vivahomes Realty (017-612 2331)

When: April 2017

Noteworthy:
● Freehold
● Land area: 1,650 sq ft
● Built-up area: 6,490 sq ft
● Intermediate unit
● Nearby amenities include F&B outlets, financial institutions, shopping mall and offices
● Accessibility: Damansara-Puchong Expressway (LDP), Sprint Expressway and Jalan Damansara

Located on Jalan SS21/56b in Damansara Uptown, the commercial hub of Damansara Utama, the four-storey shopoffice faces Jalan SS21/56 and some double-storey terraced houses.

Although it is situated in a busy commercial area and surrounded by various amenities, including banks, F&B outlets, offices, a shopping mall and residential areas, the shopoffice was transacted at below the average price of similar units in the area which are going for between RM3.8 million to RM4 million, said Vivahomes Realty senior negotiator Jacob Chin, who concluded the deal.

“This is because the unit is located on a relatively quiet street, hence the price and rent are lower than those located in the inner parts of Damansara Uptown facing office buildings,” Chin said, adding that the shopoffice is fully tenanted with a monthly rental of RM10,700.

He pointed out that the seller decided to sell the property at below market price as it has been on the market for quite some time.

“The seller bought this shop from the developer around 40 years ago at a price of about RM400,000. He wanted to sell it to fund his business,” he added.

Available listings on TheEdgeProperty.com showed that the asking prices for shopoffices in Damansara Utama range from RM3.5 million to RM12.6 million while the average asking monthly rental is RM3,000 per floor, or RM2.21 psf.

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