DONE DEAL: Gamuda Business Suites office, Kota Kemuning, Shah Alam

Sold for: RM683,000 (RM590 psf)

Concluded by: Eric Mok of Ping Properties 012-388 0356 (PEA 1617)

When: February 2018

Noteworthy:
● Built-up: 1,157sq ft
● Sold with tenancy
● Fully furnished as an office
● Sixth floor unit
● Completed in 2015

According to Ping Properties probationary estate agent Eric Mok, who concluded the deal, the office was sold at below market value. The average price of an office unit at Gamuda Business Suites is RM650 psf to RM700 psf while the unit was transacted at RM588 psf, some 10.5%-19.4% below market value.

“The buyer was keen to buy the unit as it gave them a positive return of investment of more than 4% and the office unit came with a long-term tenant. On the other hand, the seller also wanted to quickly sell it off as he needed quick cash to finance his business,” said Mok. He added that a typical office unit there can fetch a rental yield of 2% to 3%.

Most of the offices there are used by consulting, engineering, logistics and education businesses around Kota Kemuning.

The office suites are located above the Gamuda Walk (pictured) shopping mall which offers a plethora of eateries such as Nandos, Coffee Bean and Tea Leaf and Rakuzen, said Mok.

The area is also accessible via highways such as KESAS Expressway and the North Klang Valley Expressway.

According to the listings available at EdgeProp.my for Gamuda Business Suites, the average asking price is RM686.50 psf as of July 4, 2018.

Interested to buy properties in Kota Kemuning? Click here.

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