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DONE DEAL: Office unit, Uptown 5, Damansara Uptown, Petaling Jaya

Rented for: RM14,014 per month (around RM5.20 psf)

Concluded by: Ling Chai (REN 20461, 017-812 8196) of Griffin Properties

When: August 2019

Noteworthy:
● Freehold
● Built-up: 2,695 sq ft
● Fully furnished with office furniture and well-maintained unit
● Facilities: 24-hour security system, centralised air-conditioning, covered car parks, pedestrian-friendly walkway to access shops in Damansara Uptown and Starling Mall
● Easy access to the Damansara-Puchong Expressway (LDP), within 5km to mature neighbourhoods such as Taman Tun Dr Ismail, Bandar Utama, SS2 and Damansara Jaya.

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Developed by See Hoy Chan Sdn Bhd Group, Uptown 5 is an office development which comprises four 12-storey towers offering units with built-up sizes ranging from 5,899 sq ft to 7,317 sq ft.

Located in the centre of Damansara Uptown business hub, Uptown 5 is surrounded by shopoffices and situated next to Starling Mall. The wide range of amenities is what pulls the crowd to Damansara Uptown.

According to Ling Chai from Griffin Properties who concluded the deal, although Uptown 5 was completed in 1997, the building is still well-maintained and is just as attractive as newer offerings in Petaling Jaya.

She observed that offices in this area have always been popular and seldom are there units left vacant for long.

“There are many enquiries for office units but not many units are available as many tenants like to remain here, the main reasons are the easy accessibility, availability of good food and proximity to various amenities,” she noted.

The office unit found a tenant in less than a month after the former tenant vacated and was willing to pay a monthly rental of RM14,014 or an  average RM5.20 psf. 

“The new tenant is a China businessman who was looking for an office and apartment within walking distance to LRT or MRT stations, hence Damansara Uptown was never on his list. However, after viewing the office unit in Uptown 5 and taking a walk around Damansara Uptown, he changed his mind,” said Ling.

The new tenant likes the vibrant and self-contained environment of Damansara Uptown as all the amenities he needs for both work and leisure are within walking distance.

Besides the office, he also rented an apartment at Uptown Residences Condominium, and this has saved him the hassle of commuting to work, said Ling.

“The office unit is well-kept and sizeable and comes with simple office furniture. He has renovated the property to suit his business needs,” she added.

According to EdgeProp.my data, there was no sale of any office units in Uptown 5 in 2018 and 2019, but there were 14 rental deals in the first three quarters of this year. The average monthly rental was RM22,129 or RM4.53 psf.

As at end November, there were 25 sales listings on EdgeProp.my with an average asking price of RM1.1 million or RM1,682 psf for office units in Uptown 5.

In terms of rental, there were 93 listings with an average asking rental of RM11,209 or RM8.16 psf.

Interested to buy a unit in Damansara Uptown​? Or click here for more property listings in Damansara Utama, Selangor. Click here to know more about Ling Chai and potential good deals.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
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