DONE DEAL: Arnica serviced residence, Tropicana Gardens, Kota Damansara

Sold for: RM1.4 million (RM888 psf)

Concluded by: Lai Yan Yin (REN 17086, 012-881 8886) of MIP Properties and Eric Ng (REN 03650, 016-663 9423) of Ridgewell Properties Sdn Bhd

When: February 2018

Noteworthy:
● Leasehold
● 1,573 sq ft with 3+1 bedrooms
● Biggest non-penthouse layout in Arnica serviced residence project
● Unblocked view of Sri Selangor Golf Club
● Partially furnished with air conditioners and kitchen appliances and cabinets

According to Lai Yan Yin of MIP Properties who concluded the deal with Eric Ng of Ridgewell Properties Sdn Bhd, the buyer of the serviced residence is attracted by the development’s accessibility to public transportation and major highways.

“The buyer is purchasing the unit as her retirement home. She is attracted by the convenience that Tropicana Gardens has once the mall is completed as well as the ease of access of the Surian MRT station connection to the development,” he told EdgeProp.my.

Tropicana Gardens is a RM2.3 billion leasehold integrated development by Tropicana Corp Bhd, comprising four serviced apartment blocks — Arnica, Bayberry, Cyperus and Dianthus, a 1-million sq ft shopping mall and an office tower.

The launching price for Arnica serviced residences was about RM750 psf. Lai added that the seller was an investor who bought the unit a few years ago from the developer.

Based on his observation, the average asking prices for Arnica 3+1 and 3-bedroom serviced residences are between RM900 psf and RM910 psf while for studio or 2-bedroom units have asking prices of around RM1,000 psf.

The seven rental listings on EdgeProp.my show that the average asking rental is RM2,079 or RM3.20 as of April 25, 2018. Last September, Lai also concluded a deal in Tropicana Gardens where an Arnica serviced residence unit was transacted at RM1.4 million or RM890 psf.

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