Good prospects for Suntrack HUB

CYBERJAYA: Suntrack Development Sdn Bhd is confident that its latest project Suntrack HUB @ Bangi, an industrial development in the 500-acre (202.34ha) Bangi Industrial Park in Bandar Baru Bangi, will do well considering the lack of supply of medium-sized industrial units in the area.

Suntrack recently previewed the project to existing customers and succeeded in raking in a take-up rate of 75%.

Situated on a 11.9-acre leasehold plot, Suntrack HUB @ Bangi comprises 42 triple-storey semi-detached factories with a gross development value (GDV) of RM110 million. The land was acquired from Hitachi at an undisclosed price.

The units have built-ups ranging from 5,128 to 5,579 sq ft on plot sizes of 60ft x 137ft and 65ft x 132ft. Prices for the units start from RM2.59 million. These units are suitable as corporate showrooms, offices and warehouses, said James Tan, Suntrack’s project director.

The project is directly accessible from the North-South Expressway.

“We are confident that its convenient and strategic location, paired with good design, will convince businesses to make this a beneficial investment,” Tan said during a media briefing at Suntrack’s sales office in Cyberjaya yesterday.

An artist's impression of Suntrack HUB @ Bangi.
Tan: We are confident that its convenient and strategic location, paired with good design, will convince businesses to make this a beneficial investment.

Tan anticipates demand for the project due to the limited supply for such industrial products in the established industrial zone. “The decision to develop Suntrack HUB @ Bangi was made based on fundamental economics as there is an apparent lack of medium-sized industrial warehouses for SMEs.

“We are anticipating three types of purchasers — suppliers demanding for industrial premises, small and medium enterprises (SME) looking to be among large cap companies and investors looking for good rental returns,” he added.

As a result of this shortage, Tan believes owners and investors will benefit from quick capital appreciation and strong rental returns. Based on current rentals of industrial units in the area, yields are slightly above 7%.

The development’s official launch is slated for Feb 17 and 18 while construction will begin in March with completion expected end-2013. Suntrack is offering an early bird discount of RM30,000.

Established in 2002, Suntrack is the developer of SummerGlades in Cyberjaya. SummerGlades is a 23-acre freehold project with GDV of RM115 million. It comprises 137 units of 2-storey superlink homes. Prices of the intermediate units were from RM760,000 and corner units from RM930,000.

The units have an average built-up of 3,000 sq ft. The project is expected to be completed by 1Q12.

This article appeared on the Property page, The Edge Financial Daily, February 10, 2012.

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