Sold for: RM440,000 (RM308 psf)
Concluded by: Terence Tih (017-668 2669, REN 01644) from Tech Real Estate Sdn Bhd
When: February 2019
● Unit size: 1,430 sq ft
● Freehold mid floor office
● Fully furnished
● Two bathrooms
● A few minutes’ walk from MRT station and shopping mall
DONE DEAL: Condominium unit, Pavilion Hilltop Mont’Kiara, Kuala Lumpur
DONE DEAL: Shopoffice at Arena Curve in Bayan Baru, Penang
The 24-year-old Megan Phoenix in Cheras, Kuala Lumpur is a 3-block commercial strata development with 450 parking bays. Its tallest block has a total of nine floors while the rest have five floors. The shopoffice unit built-ups range from 671 psf to 1,230 psf. The development is located right behind Cheras Sentral Shopping Mall.
According to the real estate negotiator who concluded the deal, Terence Tih of Tech Real Estate Sdn Bhd, the seller had occupied the unit as his office for more than eight years.
As his business expanded, he decided to let go of the current unit to move to a bigger office.
Meanwhile, the buyer chose the freehold unit as it is within walking distance to the Taman Connaught MRT station and Cheras Sentral Shopping Mall.
“There are a few on-going serviced apartment developments nearby so the buyer is anticipating good investment returns as footfalls at the commercial area may increase in future,” said Tih.
He added that Megan Phoenix is one of the few freehold commercial property projects in Cheras. However, the shoplots in the project do not have strata titles yet hence the competitive pricing compared similar but leasehold projects nearby.
“I was told that the strata titles will be issued very soon. I believe the news will further strengthen the property prices at Megan Phoenix,” he shared.
As at Aug 6, 2019, there is only one commercial unit in Megan Phoenix listed for sale on EdgeProp.my. The asking price was RM298 psf.
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