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DONE DEAL: Third floor of two adjoining 4-storey shopoffices, UOA Business Park, Shah Alam

Rented for: RM10,420 (RM2.50 psf)

Concluded by: Kevin Low (REN 03616, 012-299 4680) of Zerin Properties

When: September 2018

Noteworthy:
● Freehold
● Combined built-up: 4,168 sqft
● High visibility as facing Federal Highway
● MSC status building
● Comes with individual lift
● Direct link bridge to Subang Jaya, KTM and LRT Station

Completed in 2016, UOA Business Park is a commercial development comprising shopoffices and office towers at Temasya Industrial Park in Shah Alam, Selangor.

Granted the MSC status by the government, the development is strategically located along the Federal Highway and offers a link bridge connected to the Subang Jaya KTM and LRT Station.

In this deal, the property investment company that owns two adjoining shopoffices had leased out the third floor of the two units to a logistics company at a monthly rental of RM10,420, according to Kevin Low of Zerin Properties who concluded the deal.

The tenant, who inked a 38-month tenancy agreement that ends in November 2021 with an option to renew for another three years, broke the wall between the two units and made the space into their office, Low told EdgeProp.my.

“The tenant was looking for an office space of about 4,000 sq ft, which can be satisfied by the corporate towers in the development.

“But they eventually chose to combine the third floor of the two adjoining units and rent the space because the rental rate at those corporate towers is higher at RM3.50 to RM3.80 psf and they prefer a place where there is less hassle with security checks and more flexibilities in working hours,” he elaborated.

He added that the rental rate of RM2.50 psf for the 4,168 sq ft of combined area is a reasonable price for both the owner and the tenant given the MSC status, ample parking space and strategic location of the business park.

Similarly, a business process outsourcing (BPO) company rented the second floor of the two adjoining shopoffices and turned it into an office space by breaking the wall, according to Low.

The BPO company signed a three-year tenancy agreement with an option to renew for another three years at a monthly rental of RM9,620 or RM2.50 psf for the combined space of 3,848 sq ft of the second floor of the two units, he said.

Meanwhile, the ground and fourth floors of the two shopoffices are still vacant.

As at Jan 10, a listing on EdgeProp.my sought RM7,000 per month for a 2,489 sq ft space on the third floor, which works out to RM2.81 psf.

Interested to buy properties in Shah Alam, 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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