PROPCAFE™ Review : The Face II-Victory Suites @ KLCC by PV

Introduction

Setapak and Taman Melati are popular residential area either by UTAR students, working adult or local population. The residential apartments here associated with Platinum Victory who literally single hand transformed Setapak and Taman Melati by built thousands of apartments here. Some investors were swear by them and gain handsomely either from rental and/or capital gain. Propcafe remember when we dropped to the sales gallery for the first phase, the apartment was only sold from RM150K and now for the same property it’s not less than RM450K!

4 years ago, Platinum Victory has ventured out to KLCC by acquiring 4.75 acres freehold land located at Jalan Cendana off Jalan Sultan Ismail. The prime land is located opposite the abandoned Grand Hyatt and behind Renaissance Hotel. To be developed over 3 phases, the first phase 733 units 51 storeys block was launched with concept all units are fully furnished and rooftop facilities. Upon VP,  due to unfavourable property market condition, developer has converted some of the unsold units to Hotel and similarly most owners lease out the units as AirBnb as well.

Recently Platinum Victory has soft launched 2nd phase, aptly name The Face II @ Victory Suites. Read on.

Masterplan

Developed over 3 phases, 1st phase 51 storeys Platinum Face was completed in 2016 where 2nd phase The Face II just previewed recently. Developer has been pretty muted about overall masterplan for Platinum Face and couldn’t disclose much what would be their plan for phase 3. However, a quick Google revealed the following

The FACE project is a mixed-use development on 4.8 acres of freehold land at Jalan Sultan Ismail, Kuala Lumpur. To enrich and enliven the fabric of Kuala Lumpur’s city centre, a public park is created. Set within it are three towers – two 5-storey SOHO (Small Office Home Office) towers and a 50-storey Office / Hotel tower. The two SOHO towers sit atop an 8-storey car park podium. These two blocks are arranged in an L, a configuration that maximises each unit’s view of the urban park below as well as the city skyline. The final block, the Office/ Hotel tower, is aligned with Jalan Sultan Ismail. This alignment places it as a significant landmark and simultaneously allows it to be an attractive buffer between a key route through the city and the street-level urban park that is the heart of the FACE.”

Artist Impression Masterplan of Platinum Face (Source: http://gdparchitects.com/2015/?project=face-platinum-suites)

Propcafe feels that developer should be more transparent in the overall masterplan as any prospect buyers deserve to be informed (whether they ask or not) what is the overall plan, architectural, timeline etc. for the completion of the masterplan. Some buyers are particular about views may not be aware that future view will be blocked by 3rd phase. Furthermore, some buyers may not comfortable with construction (which happening now with phase 1 where phase 2 construction re-start recently where workers were seen).

This review will solely focus on the 2nd phase, The Face II @ Victory Suites.

Location

The Face II is located off the main artery of KL City, easily accessible from Jalan Sultan Ismail and within a quick reach from Dang Wangi LRT station and Bukit Nanas Monorail Station

The Face II Location

For groceries, shopping and eating, heritage row and Quill City Mall is just within the walkable 500m. KLCC is just slightly further away and reachable by walk or a hop away from Dang Wangi LRT Station. If you would to venture to Imbi, Berjaya Times Square and Bukit Bintang, it is reachable via Bukit Nanas Monorail Station. In short, the location is quite convenience within the KL City.

The Face II Location and Amenities within 500m radius

 However driving is slightly trickier. If you are coming from Bukit Bintang or KLCC, you need to make a U-turn at traffic light heading to Jalan Raja Laut which is easily 1km away. During the peak afternoon, it can be frustrating experience due to heavy traffic congestion along Jalan Sultan Ismail.

Façade and Concept

Similar to Face 1, the façade is pretty clean and modern and the façade is divided to low, medium and high zone. Window cladded almost from floor to ceiling, allow natural sunlight to bask inside the unit.

The Face II Artist Impression

Consists of 51 storeys, The Face II consists of Double Volume Lobby, 8 levels of carpark where it is connecting with first phase The Face. From Level 9 to 22 is the hotel floors that retained by developer (not for sale) and SOHO floors from 23 to 50 consists of 476 units. The rooftop will include infinite swimming and 2 storeys building which will house bar and restaurant, gym and multipurpose hall.  There will be 8+1 lifts serving the whole block.

 

 

The Face II Scale Model

Layout, Show Unit and Finishes

There are in total 17 units per floor ranging from 770sqft to 1600sqft.

Type Size (sqft) Configuration Total Unit/Floor Orientation/ Facing
F* 1140 2 bedrooms + 2 bathrooms 1 North-East/ Titiwangsa
G* 1100 2 bedrooms + 2 bathrooms 6 South-West/ KL Tower
H* 1030 2 bedrooms + 2 bathrooms 5 North-East/ Titiwangsa
J* 1160 2 bedrooms + 2 bathrooms 1 East/ KLCC
K* 1600 3 bedrooms + 3 bathrooms 1 North-East/ KLCC
L 770 2 bedrooms + 2 bathrooms 1 North-West/  N/A
M 1210 2 bedrooms + 2 bathrooms 1 South-West/ KL Tower
N* 1150 2 bedrooms + 2 bathrooms 1 South-East/ KLCC

*The unit layout is feasible to be converted to dual keys with modification on the wall.

Regardless the size, all unit will come with one carpark. Interestingly, there are no studio and 1 bedroom configuration in SOHO. This is probably to avoid competition with Hotel floor where the configuration consist of studio.

The Face II is SOHO with residential Schedule H title. Therefore, throughout the layout the pantry (instead of kitchen) and office (instead of living and dining) area are being used. Interestingly… All units on south side has balcony where else on North side without any balcony. Propcafe wonders what the balcony will be used when 3rd block is coming up and blocking all the view.

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Layout F to N

As mentioned earlier, by adding partition and creating a foyer, a dual key setup can be created. Example as type G and J below. For owners who wish to rent out separately to long term tenant or airbnb, dual keys is probably a good idea to gain higher rental yield.

The Face II Proposed Dual Key concept

Type H and K show units are available for viewing. The ceiling height is quite generous with 10.5ft from floor to plaster ceiling height. All units are fully furnished with plaster ceiling, lightings, ID, electrical appliances and loose furniture. What you see is what you got with exception of decors such as arts, glasses, cutlery, flowers etc., it is hassle free where owners will get fully furnished unit and ready for occupancy or to be rented out.

Propcafe cannot help but feels the ID is catered for Chinese market. Marble is used throughout the unit including bedrooms and bathroom. The furniture, granite dining table top etc. seems to cater to Chinese market taste… Even the brochure is in Chinese language! That’s on top of the main contractor, MCC Overseas has been appointed as main contractor for The Face II! Despite developer is still Platinum Victory, apparently the construction, sales and marketing will be driven by MCC Overseas, a contractor from China.

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 The Face II Type K

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 The Face II Type H

For type K, despite the size 1600sqft with only 3 bedrooms, the 2nd and 3rd bedrooms feel very tight. This is attributed to a lot of space wastage from the foyer to the office area.

There is another show unit for hotel which is quite appointed with standing bathtub. However according to the salesperson the hotel suites will be retained by developer for their hotel business.

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The Face II Hotel Suites

The Face II Lobby

Facilities

The biggest selling point of this project in Propcafe’s view is the majestic KL skyline view from the rooftop infinite pool.

The Face II Rooftop Facilities

The Face II Infinity Pool

The Infinity pool @51th floor will soak in all the KLCC and KL Tower view and depends on the plan for Ex Lai Meng School piece of land, the view should be pretty stunning. Unfortunately once the Face II is up, it will partially block the view of rooftop facilities @ The Face phase 1.

Aside the infinite pool, the usual amenities such as bar and restaurants, gym, hall etc. which is pretty basic. Even there are no amenities at podium level @ 8th floor.

View and Facing

Propcafe went up to The Face rooftop to check out the infinity pool and boy, Propcafe came out quite impressed. The view is simply amazing and stunning and Propcafe can understand why The Face is one of more popular AirBnb hotspot.

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The View From The Face Phase 1

Propcafe also noted that Sky Suites is constructing the sky facilities with similar concept such as infinity pool etc. on rooftop. For Propcafe review, click the link below.

http://propcafe.net/propcafe-review-sky-suites-klcc/

Price and Maintenance Fee

The maintenance fee inclusive the sinking fund is set at RM0.55psf and even with smallest size 770sqft, the minimum outlay RM425 permonth. Quite a hefty sum since the amenities is pretty much basic and developer is generating income from the bar and restaurant.

Now come the most important piece of information.. What would be the price? The price starts from RM1,800psf onwards with RM3k per floor increase. For smallest size 770sqft, the current available cheapest price is RM1.548million, translated into RM2,000psf. Bear in in mind, this unit layout type L has NO VIEW as the rooms and minuscule window@ office is facing the rear of Type F. The biggest layout type K, is priced at cool RM3millions…..

The Face II type L facing

Conclusion

The biggest concern in the KLCC is oversupplies of high end properties where every year there are at least 2-3 properties completed. The Face II seems to be targeted at Chinese market where the ID, brochure, contractor are suited to Chinese language and their taste.

The biggest concern if you plan to use the property as Airbnb, you will have big competition from hotel floors within The Face II, the much cheaper price from The Face phase 1 and as well Summer Suites and Fraser Residence. The price is also a killer with minimum of RM1800psf. Another experience that PROPCAFE would like to offer… never invest a property where majority is foreign investors….

Till then, happy investing!

From,

Propcafe Intern

Let's chill and chat here with a cuppa! :)