DONE DEAL: Shop, Chow Kit, Kuala Lumpur

DONE DEAL: Factory, Seksyen 51, Petaling Jaya, Selangor

DONE DEAL: Office, KL Eco City, Bangsar, Kuala Lumpur

Named after pre-independence Tamil community leader K Thamboosamy Pillai, Jalan Thamboosamy is a prominent street in Chow Kit, Kuala Lumpur. The property located in this street is surrounded by a myriad of conveniences.

According to Jessica Tung (REN 05827) (012-381 7783) of PropNex Realty Sdn Bhd, who closed the deal, the previous owner sold the unit as he was investing in other properties. The buyers liked the unit as they were expanding their business in the town area. At the same time, they wanted to diversify their investment portfolio into shoplots for significant long-term cash flow stability.

Tung deemed the deal a good one as the location is suitable for own use or rental for investment return. She also observed that it’s difficult to secure a mature and established shoplot that has wide roads with the potential to grow, and the shoplots along Jalan Thamboosamy have all the potential to grow. 

As of the beginning of April, there were 33 for sale listings for properties at Chow Kit on EdgeProp.my with an average asking price of RM5,005,531 or RM1,609.57 psf. Meanwhile, there were 15 rental listings with an average monthly rent of RM13,120 or RM4.71 psf.