The leasehold luxury serviced apartment is situated on top of the seven-storey Pavilion KL Shopping Mall – the centre of the vibrant shopping belt in Bukit Bintang, Kuala Lumpur.
The two blocks of 43 and 50 storeys comprise 368 units of serviced residences with built-ups ranging from 1,057 sq ft to 6,689 sq ft.
Arden Estates Sdn Bhd real estate negotiator Eugene Pang said the owner had not stayed there for quite some time and so, he decided to rent the fully-furnished unit out.
Meanwhile, the tenant had been looking for an ideal place in Pavilion Residences for about one month and this unit met all his requirements – the unit did not directly face sunlight during the afternoon, and it was clean and well-maintained, besides being fully furnished.
Without any hesitance, the tenant decided to take up the unit and agreed on a two-year tenancy contract.
According to EdgeProp Research, two units of Pavilion Residences exchanged hands in 2020 with an average transaction price of RM2.61 million or RM2,179 psf.
As at April 2021, 70 units of Pavilion Residences were listed for sale on EdgeProp.my. The average asking price was RM3.83 million or RM1,970 psf.
Meanwhile, 108 units were looking for tenants with an average asking rental of RM9,614 or RM6 psf.
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