Sold for: RM2.478 million (around RM1,525 psf)
Concluded by: Wong Hon Lee (REN 03813) (016-208 8062) of Maxland Real Estate Agency
When: October 2019
● 1,625 sq ft
● Double-storey shopoffice with main road frontage
● Close to various F&B choices, shops that cater to daily needs and banks, easy access to Damansara-Puchong Expressway (LDP) and main roads such as Jalan SS2/35 that connects to Seapark and Taman Paramount and around 12km to Subang Airport.
SS2 is one of the most established commercial hubs and residential areas in Petaling Jaya. It is home to popular night markets and various F&B choices – from traditional kopitiams to the latest bubble milk tea outlets.
The 30-year-old commercial hub has remained vibrant supported by the population in the mature SS2 area, easy access and the demand for shopoffices in strategic locations.
According to Wong Hon Lee from Maxland Real Estate Agency who concluded the deal, demand for houses and shops in SS2 has always been strong, especially for shops with main road frontage to attract customers and enhance their branding.
Wong helped the seller, an Australian who inherited the shop unit located at Jalan SS2/24 from his family, to find a new owner for the unit. “He wanted to cash out as he is staying overseas.”
“The two-storey unit has main road frontage with high visibility and high traffic. Both floors are being rented by one tenant while the rooftop is rented out to a communication company to place a communication tower,” he added.
This met the buyer’s requirement as he was looking for an investment property that comes with long tenancy and good returns.
The buyer believes unit will continue to enjoy good capital appreciation as there are not many shop offices in this area that are available on the market while rental demand keeps on increasing, says Wong.
According to EdgeProp.my data, there were 16 sale transactions of shopoffices in SS2 in 2018, sold for between RM1.73 million (or RM1,064 psf) and RM7.3 million (average of RM4,223 psf) depending on the location and condition of the shops.
Currently, there are five sale listings on EdgeProp.my with average asking prices from RM5 million to RM10 million, for the three-storey shopoffices in SS2.
The asking rental of a shopoffice in SS2 ranges from RM13,500 to RM26,000.