This is UEL, a Singaporean developer’s 1st project in Malaysia. UEL being truly a reputable company back Singapore will ideally still do it First Time to stamp their mark here. They have it right with the location already. You can’t ever beat this one. In the CBD fronting Jalan Raja Chulan with access from 2-way traffic. This is one up from St Mary Residences or immediate rival The Tribeca in Jalan Imbi which can only just be reached from a one-way street/road or Idaman Residence or KLCC Parkview which are located inside some unknown small street. Having lived in St Mary, You can be told by me how awful it is when you only have a one-way gain access to.
I am not stating that it gets jammed or blocked up. Else Everywhere, including in the suburbs get traffic jam during peak hours. But it is the non-peak sluggish moving traffic which gets at you when you need to make that irritating long crawl around the block merely to get home. It has been over a season since I pointed out in this blog about an up-coming project on this plot of land. If I can recall, the land was sold at around RM150million this year 2010. That is hearsay.
But the figure seems about right for the positioning and size. It’s really a very tiny plot, flanked by Wisma MPL, a Grade C office complex and a more impressive carpark which is awaiting development. Behind it is a Chinese temple and Menara MPI. I had a little scare two months ago when there is news that the MUI group is selling Menara MPI to Mayland. That could have intended the building would be torn down and rebuilt completely blocking the KLCC views from my apartment in Seri Bukit Ceylon.
Surprisingly for such a location, despite the small parcel, UEL has only loaded in 139 devices of mainly 2 bed-room units in the Manhattan. Having a going price averaging RM1.4million per unit, the full total development value supposing all units are sold out is merely under RM200million. So, you may call it magnanimous or just not greedy, UEL may just be attempting to still do it and the first time Nice.
Anyway, every unit includes a car-park and in truth, the bigger units, gets 2 car parks each. The prices obviously demonstrates the reduced density. The least expensive systems are under a million just. The best buy is the 588sf 1-bedroom corner units that includes a really lovely layout and there were less than 10 of these. RM900k and up. The deal is, early wild birds gets 8% discount and an additional 5% rebate from the SPA price. Anyway, at this 5% rental come back, that’s implying that you will be renting it out for RM3700per month.
That’s quite the heading rate for 1-bedroom flats in the CBD however, not easy in the sluggish over-supply market nowadays. Even Singapore’s Ascott has vacated their 110-unit inventory at Seri Bukit Ceylon. Using the 588sf corner models out sold, the other 1-bedroom units worth taking into consideration is the Type B3.
To me, easily am spending close to a million, I can never justify buying a 1-bedroom condo. For almost 15% more, I could get a 2-bedroom unit and most expat tenants generally have a bit more budget for 2-bedroom units. As being a bench-mark, a 2-bedroom apartment at Seri Bukit Ceylon can fetch RM5000 – RM6000/month. The 2-bedroom apartments at the Manhattan have nice layouts since most of them are corner units quite.
My only complain is the sleeping rooms being too cramped – especially the master-bedroom. You will find mainly 4 variants about 1000sf with different sizes due to the balcony being either an indoor-Lanai somewhat, a large balcony, a little balcony or no balcony completely. The look with the Lanai is the most rediculously wasted space as there is a large post in the center of it. I am rather surprised that design has been chosen by the creator to be represented in their show room.
- Transportation and processing expense decreased by 8% sequentially to $0.46 per Mcfe
- Have been sold under typical market conditions
- Chicago, Illinois: $54,861 – $77,753
- ► April (5) – ► Apr 27 (1)
- ► Jul 15 (1)
- Other resources of the institution; and
- If 12 months pass and the choice expires, N would identify a $35,000 loss
Also, going for a close take a look at showroom, one can’t help but observe that the quality of the furniture especially the wardrobes are extremely poor. Most showrooms the thing is in Malaysia Now, usually you do not quite get what you see – the delivered furnitures are usually low quality. So, if UEL is using low quality furnitures in their showroom, either they may be being painfully honest or you might be getting something really horrible by the end. With 7 floors of car parks, the 2-floor facilities deck is situated on the 9th and 8th floor.
The swimming pool is quite nice, designed like it’s hanging within the 8th floor. The fitness center however, appears like it will likely be really small. E&O has made this big mistake with putting a little and ill-equipped gym in St Mary’s. This has switched many potential tenants away, including all the British expats from my company. Most expats are very health conscious nowadays plus they want a good gym to work out at when they’re home. Surprisingly, the maintenance charge is RM0.40psf. I am not sure if this is lasting for such a low denseness apartment. With 139 models, they’re looking at an accumulation of about RM50k per month. I believe this will barely cover electricity costs and security, 2 of the main costs of working an apartment. It’s freehold, but commercial-titled. So, the overall costs of maintenance might be greater than you think.