DONE DEAL: Residential land at Taman Bukit Suria, Kajang, Selangor
DONE DEAL: Office unit at Plaza Conlay, Kuala Lumpur
Damansara Utama, or popularly known as Damansara Uptown is strategically located along the LDP. Developed by See Hoy Chan Sdn Bhd in the 1980s, the commercial hub is filled with a wide array of amenities ranging from F&B outlets to banks.
According to One WSM Property’s Jerome Lim Kuan Ming (REN 06453), who concluded the deal, this particular 4-storey shop lot is renovated and kept in good condition by the previous tenant.
“Plus, it has great frontage against the LDP with easy access via this highway,” added Lim, noting that the new tenant came as a replacement brought in by the previous tenant.
“The landlord agreed for an early release, on the condition that a replacement tenant is found,” said Lim.
The present tenants were looking to expand their business and this unit is located near their present premises. There were no other suitable units within the same row, according to Lim.
“Overall, this is a good deal as rental rates here [in Damansara Utama] are not affected by the Covid-19 pandemic. Both landlord and tenant came to an agreement at this rate that is similar if not higher, than pre-Covid times,” said Lim.
As of end-Aug 2022, there were 25 rental listings for shop lots in Damansara Utama on EdgeProp.my with an average monthly rent of RM9,262 or about RM6 psf.
Meanwhile, there 10 for-sale listings with an average asking price of RM6,163,000 or about RM1,000 psf.