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DONE DEAL: Serviced residence, Star Residences Tower 1, KL

Rented for: RM3,800 per month (RM6.08psf)

Concluded by: Meifen Low (REN 06451) (012-6530714) of One WSM Property Sdn Bhd

When: December 2019

Noteworthy:
● 1 bedroom and 1 bathroom
● Built up:625 sq ft
● Fully furnished with air conditioning units, sofa, wardrobe, coffee table, washer and dryer, kitchen cabinet, and kitchen hood and hob
● Facilities: Swimming pool, gym, outdoor pavilion and BBQ lounge, koi pond and gardens
● Walking distance to KLCC, Avenue K,  Suria KLCC, KLCC Park,  KLCC and Ampang Park LRT stations

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The Star Residences Tower 1 is part of the Star Development located at the intersection of Jalan Mayang and Jalan Yap Kwan Seng in Kuala Lumpur city centre.

Jointly developed by Symphony Life Bhd and United Malayan Land Bhd, the freehold development consists of a 57-storey Tower 1, 58-storey Tower 2, 58-storey Ascott Star KLCC Kuala Lumpur and Star Boulevard, the latter featuring retail, food & beverage and entertainment outlets.

Tower 1, which was completed in December 2019 has 557 serviced residences with built-up sizes from 625 sq ft. It is the highest residential building in the vicinity.

The one-year tenancy for this unit in Tower 1 at RM3,800 per month is reasonable given the strategic location of the project and the fact that this is a brand new fully-furnished unit, says One WSM Property Sdn Bhd's Meifen Low who concluded the deal.

“The tenant is an expatriate who works in the city centre so the location is very convenient for him,” Low added, noting that the KLCC precinct offers a wide array of amenities such as the Ampang Park LRT station, shopping malls, and corporate offices.

The tenancy commences Jan 1 this year with an option to renew for another year.

“The landlord expected to get a higher rent for the unit but accepted this offer because of the good profile of the tenant,” Low added.

Nevertheless, the rental psf for the unit is still competitive. Rental listings on EdgeProp.my showed that the asking rents for serviced residences at Star Development ranges from RM4,200 to RM6,500, or RM6.65 to RM9.02 psf per month as at January 2020.

The average asking price for these units was about RM1.13 million to RM2.73 million, or RM1,767 to RM2,914 psf based on the sale listings on the property portal.

Interested to buy a unit in Star Residences​? Or click here for more property listings in the Jalan Yap Kwan Seng area. Click here to know more about Meifen Low and potential good deals.

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