Rented for: RM1,500 (RM3.24 psf)
Concluded by: Yijo Phoon (REN 27634, 012-290 9100) of CBRE WTW
When: November 2019
● Built-up: 463 sq ft
● 1 bedroom and 1 bathroom
● Fully furnished
● Mid-floor unit
● Facilities: Saltwater pool, Jacuzzi, sky gym, sweat club, aquarobics zone, misty walk, chill out deck, forest lounge, gourmet loft, sports bar, steam cube and others
Located in Damansara Perdana, Empire City is a leasehold integrated development that consists of residential, office and retail components, and was completed in 2015. The developer is Mammoth Empire Holdings Sdn Bhd.
There are many shops, F&B outlets and malls in the area including IKEA, Tesco, The Curve and 1Utama Shopping Centre.
Yijo Phoon of CBRE WTW Real Estate is the negotiator who found a tenant for this serviced office suites (also regarded as a SoHo) unit in Block E. The 45-storey tower, more commonly known as Marriott Hotel block, is shared by The Marriott International Hotel (18 storeys) and the serviced office suites/SoHos (25 storeys).
There are a total of 459 serviced office suites/ SoHos and 300 hotel units which are served by five lifts. Unit sizes are between 354 sq ft and 1,115 sq ft.
The tenant chose this unit because it comes fully-furnished and has nice interior design with high quality furnishings, Phoon said. He added that the unit faces East and offers nice and unblocked views. “The building also has a clean main entrance and lift lobby with centralised air-conditioning,” he said.
According to Phoon, this unit was rented out one week after the previous tenant moved out, for RM1,500 a month or around RM3.24 psf. “This is a good deal because a unit with such nice interior design is a rare find, and parking is free at the moment,” he noted, adding that monthly rents at other SoHo developments nearby are around RM1,600 to RM1,800, with season parking costing another RM180 per month.
Based on EdgeProp.my’s listings, as at Dec 10, the average asking rent for units in Block E was about RM1,381 or RM3.02 psf based on 28 listings. In general, the average asking rent for units at Empire City as a whole is about RM1,393 or RM2.26 psf based on 97 listings.
There was only one sale listing in Block E, asking for RM480,000 or RM1,030 psf while the average asking price of other units listed for sale in Empire City was about RM391,722 or RM613 psf.
According to data from EdgeProp.my, in 2018, there were 23 sold units with the average price of RM374,130 or RM755 psf.