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DONE DEAL: Standalone office in Cyberjaya, Selangor

Sold for: RM28.8 million (RM533 psf)

Concluded by: Chelwin Soo E2364 (012-833 6665) and Lee Wei Chien (PV1774) of Knight Frank Malaysia

When: SPA signed on April 2018, legal completion concluded Nov 2018

Noteworthy:
● Freehold
● Not furnished
● Comes with 191 car park bays
● Two levels of basement car park
● Land area of 58,653 sq ft

According to Knight Frank Malaysia’s associate director of capital markets, Chelwin Soo, the purchaser of the office building is a public listed company who bought the property from Michaelian Holdings Sdn Bhd.

“We have been assisting the purchaser in sourcing for a standalone freehold office building to house their college-cum-training centre since 2016 and we are very pleased that they finally found something suitable for their operations,” said Soo.

Meanwhile, the seller was disposing of the property as the tenancies of the building were coming to an end and they were also more focused on industrial developments, hence their decision to sell the building to reallocate funds into the developments, Soo explained.

The purchaser paid RM28.8 million for the 3-storey office with two levels of basement car park offering a total of 191 car park bays. It sits on a land measuring 58,653 sq ft with a net lettable area of 52,473 sq ft.

The building is also the first MSC status-granted standalone building in Cyberjaya that housed a Japanese MNC.

“Despite being more than 15 years of age, the building is still in very good condition. The previous and only tenant prior has maintained the building very well. The building enjoys three road frontages, namely Persiaran Multimedia, Jalan Teknokrat 5 and Jalan Teknokrat 4 while being less than 50m away from commercial amenities such as CIMB Bank, Starbucks and Old Town White Coffee, just to name a few within Prima Avenue 1,” Soo noted

She also added that the DPulze Shopping Centre and Shaftsbury Square are 800m and 1.5km away respectively.

According to data from EdgeProp.my, the last similar transaction was a four-storey office building with one basement level, also located along Jalan Teknorat 5 sold for RM40 million (RM549 psf) in 2016. The building has a floor area of 75,014 sq ft and land area of 107,639 sq ft.

Based on seven sale listings in EdgeProp.my as of Dec 12, 2018, the asking price of offices in Cyberjaya range from RM267 psf to RM1,194 sq ft.

Interested to buy properties in Cyberjaya, Selangor​? 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]

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