PROPCAFE Peek : Flexus Signature Suites @ Jalan Kuching By OCR

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Flexus Signature Suites is the latest launch by boutique developer OCR – Ong Chong Realty Sdn Bhd  (they of developments such as PJ5 soho, Residence 8 @ OKR, Palm Reserve in Damansara Jaya, Chestwood Terrace in Kg Kayu Ara).

Located off Jln Kuching, behind the Khai Chee Chinese school – there will be a specially built dedicated slip road from Jln Kuching leading into Flexus (convenient slip road for Flexus residents, and also a convenient pick up/drop off slip road for the Chinese school’s students’ parents!)  Access whilst is convenient – smacked right next to Jln Kuching, can be a chore if you work in KL (every time having to go towards the Kepong roundabout to u-turn to head back to KL).

The layout is a V-shaped layout, with east facing units (facing KLCC and more premium priced) whilst south-west facing units will have views of the future Naza Matrade development (keep this development in mind as this development is pivotal to Flexus’s success and we will revisit it shortly).
Facing south west view will also enjoy the KTM track sound.

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There is a huge tract of Goh Ban Huat land next to this development, and Tan Chong’s Segambut plant nearby – also slated for future development.
Total of about 270+ units per floor, 2 ground floors of retail followed by carparks. Lowest floor for the suites start from the 9th floor.
Smallest size is about 477sf, most of the units are around 520sf++, with a few 900+sf units per floor – these are 2 bedders.
Except for the 900+sf 2 bedders, the rest of the units are all studios. Maintenance inclusive of sinking fund is about RM0.44psf
The layout is quite space saving, there is a sliding glass partitioning the kitchen from the bedroom (a la Plaza Damas studios), as well as sliding doors to the toilet.  Toilet has is H-shaped with dual entry, one end being the shower and the other end the sink/toilet bowl, in the middle is the walk in wardrobe.

This is a free hold development and all the units come with one free car park.  And the units are also SOFO by the way (therefore some of the panel banks are willing to finance up to 80-85% for this project).

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OCR is leveraging on the potential of the Naza’s Matrade development – KL Metropolis, touting that RM700psf might seem expensive now, but when Naza launches their condos in the Dutamas vicinity, it should be from RM1000psf upwards.
This Naza Matrade development is of course a huge development covering a whole 75.5 acres, with convention centers, condos, office blocks.  The Circle Line is rumoured to run through here as well.

the-development

 

Current offering :
– 10% early bird special
– additional 2% rebate for repeat buyers
– free 1 car park bay (you’d assume this is a given rather than special promo)
– free legal fees on Sales & Purchase Agreement
– 0% interest during construction (its Interest Reimbursement Scheme not Developer Interest Bearing scheme)
– semi furnished package worth RM 30,000 (covers kitchen cabinet, hob and hood, simple walk in wardrobe, 2 air condition units)

Bottom line
This development heavily rides on KL Metropolis, as a standalone project – it can’t stand by itself! At RM700psf, it is not cheap. Putramas down the road is readily available for sub RM500psf.  Don’t like Putramas’ density ? Or looking for something with a snob appeal ? Seems there’s a unit at Tiffani which is going for RM770psf (815sf unit)  Not sure if this is just an agent fishing, but the location of Tiffani would be much better than Jln Kuching: http://www.iproperty.com.my/propertylisting/633252/Mont_Kiara_Condominium_ForSale

Tan Chong will also be planning to develop its piece of 47-acre land in Segambut after 2013, as its moving its plant to the newly build modern facility in Serendah  :

http://www.theedgemalaysia.com/in-the-financial-daily/166647-tan-chong-to-develop-segambut-land-after-2013.html

http://www.theedgemalaysia.com/first/154446-tan-chong-steps-up-property-plans.html

Goh Ban Huat as well, has a 16-acre land for future development.

http://www.theedgemalaysia.com/property/227756-fcw-mulls-development-of-segambut-land.html

To me, this piece of news is more exciting, and has better potential than an independent boutique development which stands alone by itself.  If you are familiar with OCR developments, they are aplenty in the Kg Kayu Ara area; a hodge podge of nice apartments smacked right in the middle of a squatter settlement.  So you can imagine what this development will be like in the future.

This Segambut area is buzzing now.  Boulevard Service Apartment (also covered by propcafe), on the opposite side of Jalan Kuching, was launched 2 months ago at RM480psf; as a comparison, Flexus is not cheap at all.  But do drop by the showroom,, the show unit has very nice ID.  I love the SMEG fridge, and do check out the wall paper.  Stunning design.  Unfortunately according to the kind folks in OCR, not all their customers take to the ID. Oh well, you can’t please everyone can you?

 

 

 

15 Comment

  1. Caffe Corretto says: Reply

    Road widening nearby is still in progress and the link to dutamas site is also the on way. It is only abt 7km from klcc. Currently sitting at the tract that comes with factories n petrol stations. Like wat Affogato mentioned in blog above, if tan chong n gbh sells their land or develop it as residential use then the landscape here ll b totally changed. Having said that the pricing is not cheap at all!

  2. similar condo near jln kuching like sri putramas only RM400~500psf. RM700psf …..with this price, personally think that solaris or MK condo is better than this

  3. Caffe Corretto says: Reply

    Studio is normally more exp in term psf and i doubt the studio ll b less than 700psf in mk. U right, might as well take mk studio but not many in mk though even it is available.

  4. Mk and SH are more livable than this part of jln Kuching

  5. Enjoy KTM sound track? Are you promoting this for real?

  6. Hi, do u think the piece of grave right beside the property would affect the development ? Is this considered a high intensity property? Any comment on the developer background ?

  7. Sorry I posted the comment in the wrong blog entry

  8. Caffe Corretto says: Reply

    700psf after rebates in this area… … I ll let u fill up the blank.

  9. I went to the site, the location is good. Jln Kuching direct access. Just to share my 2-cent, compare with the nearby Icon Residence psf and yet to be launched Naza Matrade Service Suite and other developments nearby you mentioned… i think the chance of potential gain is fairly high though.

  10. Caffe Corretto says: Reply

    Audrey…I thought Matrade is pretty far from there as it is not side by side or anywhere near or within walking distance. Understand Jln Kuching loc is pretty centre but the Pricing is key here.

  11. Anybody interested to Tan & Tan upcoming project called Three28, Tun Razak?
    Let me know if interested. I have Surprise for you all! 012-3553 294.

  12. I’ve just booked a Flexus unit last week. Audrey, find yourself a good investment but make sure it’s a good location with potential growth. If anyone advises that the price is too high now and delay your purchase, you’ll have to buy it at a higher price later.

  13. I heard the sales for Flexus is pretty bad, it was told it is going to be launched but it hasnt been launch to date. Any news on this?

  14. Sri Putramas 1 facilities are built on the ground. The access to KL and Kepong also convenient. For Flexus, 700psf with maintenance 0.44psf is overpriced. You can walk from SP to KL metropolitan but not Flexus.

  15. Any body interested of OCR project , the resident , Flexus , canary Cheras , peno jln ipoh free hold is coming soon new project pls contact Me Mr chin 0183933469 or 0193104310 thanks to support .

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