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DONE DEAL: Office unit, Plaza Sentral, Kuala Lumpur

Sold for: RM2 million (around RM736 psf)

Concluded by: Carmen Lee (REN 12639) (012-207 3989) of Reapfield Properties (HQ) Sdn Bhd

When: February 2020

Noteworthy:
Freehold 
Mid-floor unit with built-up of 2,715 sq ft
Fully-furnished
● Located within KL Sentral and walking distance to NU Sentral Shopping Centre 
Easy access to main roads and highways such as Jalan Damansara, Jalan Travers, Jalan Syed Putra and Lebuhraya Sultan Iskandar, around 10km to KL city centre and 5km from Mid Valley

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Developed by Malaysian Resources Corp Bhd (MRCB), the master developer of KL Sentral transit-oriented development, Plaza Sentral is a MSC Cybercentre-status office and is home to IT businesses and fintech start-ups. 

Located in the heart of KL Sentral transit hub, Plaza Sentral is popular among corporations and business owners for its easy accessibility via public transportation and for its proximity to various amenities, said Carmen Lee from Reapfield Properties (HQ) Sdn Bhd, who concluded the deal.

Lee said the unit owner wanted to cash out, so it was sold below market price.

There were other units within the same building selling at around RM950 psf while this unit was sold at about RM736 psf, definitely a great deal for the buyer, she said, adding that such a unit could fetch a rental yield of around 9%.

“Besides the price, the buyer also liked that the unit came with basic fittings and office furniture as well as a beautiful unblocked city view. This is definitely a nice place for an office,” Lee added.

The 2,715 sq ft unit was shared by the previous owner, who has since vacated the space, with a tenant taking up around 1,498 sq ft for a monthly rent of RM7,050. The tenancy agreement will end April 30, 2020, but both tenant and new owner could renegotiate the terms if the tenant wishes to stay on.

EdgeProp.my data showed that there were three offices in Plaza Sentral that were sold in 2019 at an average price of RM3.42 million or RM966 psf. There were 24 sale listings with an average asking price of RM5 million or RM1,046 psf as at March 25, 2020 while there were 54 rental listings with an average asking rental of RM21,323 or RM5.36 psf.

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Interested to buy a unit in Plaza Sentral? Or click here for more property listings in KL Sentral​​. Click here to know more about Carmen Lee for  potential good deals.

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