PROPCAFE Review : Verve Suites KL South By Bukit Kiara Properties

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Old Klang Road, due its location and upgrade of infrastructure, has become many developers’ darling in recent years. In order not to miss the boat, PropCafe started some research and assessment works on this area recently. Propcafe, first, will cover the most luxury one that called Verve Suites KL South. Why? Many property “kaki” claimed that it is expensive but PropCafe could not get much information from public sources, so it triggered PropCafe to find out WHY and WHAT developer is OFFERING to demand this premium in this part of KL. Hopefully, all the home seekers and property enthusiasts can get the ANSWERS here.

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Who is the DEVELOPER?

Developer profile becomes increasingly crucial in assessing new property development during this part of property cycle. I guess everyone know the founder, the “Condo King” or Dato’ Alan Tong, who turned the rubber estate lands to now the famous Mont’ Kiara in 80s. He was the one who dared to build condominium in Malaysia during that time when there were still plenty of lands undeveloped in Klang Valley. He always like to smell the niche market and venture into uncharted territory. It seems like it is still continue in Bukit Kiara Properties (BKP), a property arm that he started together with his son Datuk NK Tong in 2000 after he exited Sunrise right before financial crisis in 1997. Only few projects were developed in Mont’ Kiara since then, which were Aman Kiara Bungalow, Hijauan Kiara and Verve Suites. Clearly, size of GDV no longer the focus to BKP, which sometimes can be a good thing to buyers as developer may tend to be more focus and detail to delivery of  its product.

Developer’s FINANCIALS and DELIVERY?

Quick search in SSM showed there is no revenue in Bukit Kiara Properties’s 2014 financials as the latest revenue of the only existing development – Verve Suites KL South has yet to account for its financials. Currently, the company comes with clean charges, strong balance sheet and authorised capital. Similarly, strong financials in term of profitability, balance sheet and capital were reported in its holding group Al Batha Bukit Kiara Holdings, the JV entity with one of the largest conglomerates in U.A.E. The financial stays very healthy even putting the consideration of the Japan Hokuba’s Resort & Suites project and the land costs that spent for next projects at Jalan Tun Razak and Ampang Embassy Row. Risk of abandon? No chance.

BKP has won the Best High Rise Residential Award from the reputable FIABCI Malaysia Property Award in 2014  and recently awarded World Gold Winner of the FIABCI Prix d’Excellence Awards 2015 in the same category for its signature project Verve Suites Mont’ Kiara. Previously the same property has also won them the Malaysia Landscape Architecture Award in Property Developer Excellence and Project of the Year award in 2013. Those interested to know its delivery quality should visit Verve Suites Mont’ Kiara and its retail outlets there. Sky beach at Verve Suite Mont’ Kiara is great and well received! Strong points to add into our property rating and assessment model.

Track Records on MAINTAINING High Rise Building

Condominium’s maintenance always play a big part in mid to long term capital appreciation of a property. A good developer should always has its own property management arm to support this. In many cases, PropCafe sees the deteriorating of property value when inexperience JMB/MC starts to handle the maintenance without much helps from developer. Everyone knows Sunrise is famous for its maintenance works and the gene perhaps comes from the values that inserted by the leader of Bukit Kiara Properties. Although the current size of the company is relatively small but it has all related arms or subsidiaries to build, maintain or even to do interior design and landscape works. Thumbs up to them.

LOCATION of Verve Suites KL South

Old Klang Road is the oldest and first major road in Klang Valley. It opened in 1959 and provides the link between Kuala Lumpur and Klang (hence called Jalan Klang Lama), the road is the artery to older township such as Taman OUG, Taman Lian Hoe and gradually some newer township such as Taman Seputeh, Taman Desa to thrive. Alongside PJ Old State area, these are suburban area where earlier dwellers stay and work in Kuala Lumpur due to its great accessibility. Over the time, the whole stretch of OKR were almost developed with some exceptions of smaller pocket of lands. Recognizing the limited supplies of new properties coupled with buoyant property market in Klang Valley for past 5-6 years, many developers have grabbed these leftover pocket of lands. BKP recognizes the potential of the location and rather than acquiring an empty land, they en-block a twin building (used to call Wisma Shun Li where Alamanda College was based) and embarking a brownfield project. Smacked right in the middle of the Old Klang Road, the project is strategically located and surrounded by mature amenities such as below.
  1. Hotels: Gardens Hotel, Boulevard Hotel Cititel Midvalley 4km
  2. Shops & malls: Midvalley & Gardens shopping mall 4km,  NSK Trade City Kuchai Lama 3km, Wet Market Jalan Klang Lama 2km, Tesco Scott Garden 1km, Pearl Point 1km
  3. Places of interest: Taman Desa Medical Centre 2KM, Desa Water Park 4km, Bandar Malaysia 5km, Muzium Negara 5km
  4. Schools: SJK (C) Choong Wen 1km, SMK Sri Sentosa 4km

There wouldn’t be any worries of shortage of F&B. There are plenty of old school restaurants or old establishments along the road and within the residential area such as Taman OUG, Taman Desa, or Kuchai Lama. There will never be shortage of choice of restaurants.Given that this is an old and establish area, there are not many prominent landmark with exception of well recognized Plaza OUG (still remember the Yaohan?) and Pearl Point.

ACCESSIBILITY

Being the oldest main road in Klang Valley, Verve Suites KL South is not short of options especially if you are with car. Coming from KL/PJ alongside Old Klang Road, it can be reached by making u-turn in front of Plaza OUG.Just a 5-10 minutes short drive you will reach Midvalley Megamall. Not only the mall, the network will bring you to PJ/ Subang/ Klang via Federal Highway and by exiting to the right to the East-West highway, it will bring you to Cheras. Again, just a few minute drive, by exiting to North-South Highway, you will be within minutes via Smart Tunnel to Kuala Lumpur City Centre.On the south side, via Taman OUG, you can exit to KESAS via Awan Besar Interchange which easily bring you to Puchong, Klang and Bukit Jalil. To promote its 9 Seputeh project, MRCB has also committed to build a link to NPE from the development. Indirectly, this will benefit residents along Old Klang Road as they could use NPE which again will provide seamless access to Bangsar, Pantai, Kl Sentral and Kuala Lumpur.Old Klang Road will lead you to myriad of accesses that allow you to travel seamlessly to almost anywhere in Klang Valley. Now you know why many Seputeh, Taman Desa and OKR residents “die die” also want to stay or choose to upgrade at nearby location there. This is the best part of being  in a matured and established township.

Slide 7 - Verve Suite @ KL South Infrustracture

LOCALE

This part of the town, KL South is populated by approximately 230,000, is a mature yet vibrant KL suburb has plenty to offer with schools, malls, banks, KL downtown within reach with 5km radius. The project’s close proximity to affluent landed neighborhood such as Seputeh, Taman Desa  (old money) may attract these folks here to venture to an exquisite all equipped luxurious simplex living especially when the needs of lower housing space utilization arise as the local populations age.

The Verve Suites KL South may also able to attract extended young families who have been living in KL South ‘the longest time’ yet not willing to relocate that can potential compromise the family close ties and the convenience the location KL South can offer. At least, that’s the stories told by the sales personnel which PropCafe does not disagree.

Verve Suites KL South’s VIEW and ORIENTATION

Views are not the main selling point of this development and the developer never hide the fact that the view is not the main consideration. Unlike The Verve Suites Mont’ Kiara where penthouse and roof are converted as communal facilities to capitalise on the view, the developer decided to construct a brand new sky bridge that serve as communal space at level 13A for block A and B.Within the close proximity on the west, PPR Seri Anggerik will partially block the view of block A. Most of the west facing units in block B, especially low floors, will come with the recreation deck and pool view. On the East side, over the Old Klang Road and wet market, it will be an open view as no highrise obstructing or blocking the view. Similar with South side, with exception of Pearl Suria which is quite a distance away, it will be an open view. However, the North open view may be blocked by quite a numbers of upcoming projects such as 9 Seputeh and Southbank. Good thing is, these buildings are new and façades are nice to see. It is more like city view with all tall buildings.

Slide 1 - Verve Suites@ KL South Project Orientation

  Slide 2 - Verve Suite @ KL South Accessibility
The key takeaway point is no prominent landmark in this area and consciously the view is not the main selling point of the project. With the signature Sky Bridge and BKP’s reputation, would the Verve Suites KL South becomes the landmark in near future like what the sales personnel claimed? We shall see in next few years.

Development FEATURES of Verve Suites KL South – Anything Great?

To continue the Verve Series like Verve Suites Mont’ Kiara, BKP is turning this old college building into luxury lifestyle towers with 321 fully furnished one and two bedroom units. There will be also 45 SOHO units (yet to launch) at lower floors together with three retail lots for lease. It is a freehold commercial title property with three tier security. Each unit comes with at least 1 carpark lot and some of the bigger units will be given additional lot. 40 visitor carpark lots are allocated in the basement for both residential visitors or retail customers.

BKP engaged award winning design architect Liu &Wo Architects Pte Ltd from Singapore (http://www.liuwo.com.sg/web/Site/Main.html) and landscape architect – MLA Landscape Architects Sdn Bhd (http://www.maliklip.com.my) for this project as it is not an easy task to do a brownfield project.

Information given showed that it is the first project in Malaysia that achieve Green Mark Certification for existing residential building by the Building & Constructions Authority of Singapore (BCA).

Due to the smaller unit size offering, there are 321 units sitting on 1.36 acre land which translates to 236 units per acre. It is considered high dense development according to PropCafe’s density rating parameter. The developer aware of this and therefore, there are ample facilities allocated for Verve Suites KL South which spread across three levels – Level 2 Pool Deck (Approx. 17,500sf) and Level 3A Recreational Deck (Approx. 15,000sf)  and Level 13A Sky Bridge (Approx. 10,000sf) to offset the concern above. This project, without a doubt, the developer continues to sell its success story of community lifestyle living  with superb facilities which follows the concept of Verve Suites Mont’ Kiara.

facilities

Next, PropCafe focuses on the signature of this development. Well, no sky beach like Verve Suites Mont’ Kiara this time, but there is an iconic Sky Bridge named VERCADICOS that links the two towers. The naming was inspired by one of the oldest bridges that links two cities: The Arkadiko. See the video of Bridge Structure below

skybridge
Sky bridge

This double volume (20ft height) 200ft bridge is already completed. Based on the previous good feedback at Verve Suites MK, the developer continue to place a Theatre there again for residents to enjoy their movie. Last heard from Verve Suites Mont’ Kiara, no private session is allowed and movies are all arranged by management office.

sky theatre

The next recreation area is the place for Western Gym & Yogo vs. Eastern Wing Chun. This combat zone joint with the Sky Bridge Walk, Lounge and Energy Bar are at common area which is spacious enough to accommodate large crowds. It should attract the interest from Gen Y and the Gen X like us gave it  a “Like”! Nice place to hang around with mates.

                          Sky Lounge
                          Sky Lounge2

Then PropCafe went to have a drink at Sky Kitchen & Dinner with the sales personnel. This sky kitchen can easily accommodate 50 to 60 guests and it is a well equipped kitchen for any function and (or) your own cooking there to serve your guests. When individual unit is small, this is certainly a good idea from developer to have this facility for residents to host party and place to prepare and cook the dishes. Well thought of!

 Sky kitchen

Lastly, PropCafe reached the Chill Zone where the place for residents  and guests to relax and mix around. It reminded me the time at University. Pool, TV, lounge, cool sofa, nice music, good buddies, ……

Sky Chill Zone1

Overall, Verve Suites KL South continues the living concept and facilities like Verve Suites Mont’ Kiara which allows residents to connect, mingle and socialise. This is the community living concept where you have more places within the properties to chills and know your neighbours. Many condominiums have the facilities but, unfortunately, mostly under-utilised. The developer that led by “condo king” surely know this, with their experience in Verve Suites Mont’ Kiara, they know what the residents want. This Sky Bridge facilities which follow the concept of Mont’ Kiara’s should bring residents together. Propcafe would certainly spend more time here than those facilities like swimming pool or garden deck. So, to PropCafe, this Sky Bridge is The LINK BETWEEN VERVE RESIDENTS.

PRICING – Prada or Coach?

At the moment of this entry is written, the lower floors of block B, particularly the one bedroom unit of Terra Spring, have been booked. Nevertheless, some of the Terra Spring are still available. Taking sample of high level on 17th floor, Terra Spring is priced at RM729,800 before developer’s packages. On psf wise, this worked to be RM1315psf. If you could afford higher price and need bigger space, other interior design theme is priced lower. Again, taking example of 17th floor, the corner two bedroom unit – Mulberry Stilleto and intermediate two bedroom unit – Summer Canvas are priced at RM1200psf or absolute wise RM1.05m and RM850k respectively. Finally Infiniti Edge is priced about RM1235psf or RM900k. All the quoted prices are before attractive home ownership packages offered by developer. For every floor increase or decrease, it is about RM3-4k different, give and take.

Price is not doubt is at much premium compared to other launches alongside Old Klang Road. Well, PropCafe has visited few projects nearby. PropCafe would say it serves different categories of target market (be it ownstay or invest) and premium is priced like Prada vs. Coach. Women should know what it is mean.

The developer didn’t shy away from admitting the fact its target market and it was shared that some of the purchasers are repeat purchasers from their past project in The Verve Suites Mont’ Kiara. These are the discerning buyers who share similar philosophy and appreciate the concept and interior design offered by BKP. Bear in mind, when Verve Suites Mont’ Kiara was launched many years ago, PropCafe was equally shocked like how you were reacted on the price above in this Verve Suites. Verve Suites Mont’ Kiara proved that it has it own niche market segment and still the price market leader in Mont’ Kiara until today.  As stressed earlier, it is not easy to make comparison with other properties and if you were to duplicate the similar concept elsewhere, it wouldn’t be possible without the source of fabrics, furniture, carpentry works etc. There are a lot of effort put in by the developer. It is the sense of appreciation and pride (again, Prada or Coach, which one do you like? And Why?) that wow the buyers to put their signature on the Sales and Purchase Agreement.  Therefore, Propcafe needs to make a paradigm shift for this property review as it is no longer relevant to review the property based on conventional thinking. We have huge debate among PropCafe founders after the visit, especially on the “intangible” and “tangible” assets that included in this property. These will be included in the following sections.

NEARBY High Rise PROPERTY PRICES and NEW LAUNCHES. APPLE vs. ORANGE?

kl_south_nearby subsales

Existing condos and apartments in Old Klang Road (OKR), Taman Desa, OUG, Kuchai areas generally Mass Market in nature with family oriented sizes at approximately 1100 to 1500 sqft. PropCafe noticed that older condos and apartment are commanding 550-750psf in OKR, Taman Desa, OUG, Kuchai areas depending the age and conditions of the condos and apartment. Assuming all the existing mass market condos, apartment in KL South are oranges, PropCafe would say Verve Suites KL South is a rare apple. An edible rare apple with embedded with iOS, literally.

What is interesting is that PropCafe noticed Verve Suites KL South is the only project that offers signature ID incorporated into the unit, you can basically VP (vacant possession) with your suitcase and stay in immediately after VP.Our experience from buying sub-sales properties, is that there always idle time where the new owner cannot immediately occupy their home upon VP, to give way to renovation and alteration works, electrical and rewiring works, and to even longer lead time if it involves built-in cabinet fit out and ID inputs. Tiring is the word, at least, to PropCafe founders’ recent renovation works. Also, one must take note that BKP does not just provide normal material or ID works in these units, many items are custom made and not easily available from normal carpenters/vendors (see later section). Plus point, Verve Suites KL South would not need to go through these conventional steps, and save potential owners plenty of time to look for vendors instead able to enjoy the new home right away after key collection. The wise one says time is money, PropCafe agrees!

Rental Analysis

While rental market at OKR Taman Desa, OUG, Kuchai area are caters mostly for local residents, expat tenant pool is still lacking. Therefore the rental market in OKR areas are ranging from RM1.5-2.5psf, couple notches below expat favorite at Mont Kiara or Bangsar. However, Verve Suites KL South may be able to buck the trend to command higher psf as the only luxurious IDed and fully furnished residential with lifestyle themed development around this area. It is also an advantage to the yield seekers as Verve Suites KL South is rental ready upon VP, no loss of time arising from defect rectification (typically 1 to 2 months) before owner can commence other renovation, fit out as well furniture and white goods shopping. In short, it is for new target segment in OKR or surrounding area. Surely, it has no competitor for this segment, so now the question is, does this target group exist and (0r) how big is this pool of tenant here. The fact lays in the future.

kl_south_new_dev

New Condo Launches Analysis

If you take away those Kuchai Lama, OUG etc projects, launches in OKR stretch were limited for the past 5 years. With resident profiles here are generally middle income households, recently launches PropCafe sees developers up the line and market its product to cater middle to upper end families and up-graders. Developers all try to test the level to see response of upgraders and new “migrants” due to its location, accessibility and amenities. Asking price for new launches is now ranging from 650psf to 900psf and generally there are few factor determining the prices, namely, density, development concept, themed, and project grade (mass market or up market). PropCafe has seen high density project caters for mass market offering at 650psf, while niche lifestyle themed with commercial element development at RM900psf. As far as the take up rate is concerned, launches in OKR stretch were pretty hot and were snapped up swiftly. This could be pent up demand for up graders and lifestyle up graders alike, in all projects in matured area such as Seputeh/Taman Desa/OKR are generally well accepted. PropCafe observed in the vicinity of Old Klang Road stretch at present prevailing market products on offer for new launches. There is none like Verve Suite KL South. PropCafe attributes price variance from other launches in OKR vicinity to Verve Suites KL South; the consideration for stylish ID, with quality fit-out, fully furnished home and of course, the intangible brand name of BKP and the success of its Verve Series.

Layout + ID Theme.  What are the items priced into the PREMIUM?

Comes with “Verve” DNA, the interior is truly represent the epitome of stylish living. However, to pay more than RM1000psf, one must know the reasons why to pay this premium. Verves Suites Mont’ Kiara buyers knew the expectation and with no surprise, they are majority buyers of the pre-launch of Block B which currently around 40% sold.

Normally, PropCafe would not focus much on the ID and furniture in show unit but Verve Suites KL South is different as it sells together with the ID and furniture. So, PropCafe zoomed into this area and try to see what value is provided in the unit and whether it fits your taste. It is important, because it all comes with it and no point for you to spend unnecessary money on it later! Buying Verve Suites is buying the whole package and the key is the detail ID and furnishing that provided by developer. Any developer can offer this but the level of details in fully furnishing work is the key here. BKP knew it, that’s why PropCafe can see the fine details the developer put in to satisfy buyers just like its Mont’ Kiara’s Verve Suites. Bear in mind, you cannot even choose color of anything that are given, so please pay attention here! (Laugh out loud). We were told majority of the furniture are imported and it costs easily above 100k for each unit to be fully furnished. You don’t have to agree it now. Perhaps you can form your opinion after this section. No right or wrong answer. Even among PropCafe founders have different views.

All units are fully furnished as per the show units with exception of decorative items, paintings, TV, mattresses (please confirm with sales personnel). Depends on the space requirement and taste of individual, developer has conceptualized the interior design theme for each layout distinctively.

Let’s start with a smallest unit TYPE A – Terra Spring with 555sf (One Bedroom)

“Simplicity. Through use of minimal colours and choice textures. Solid. Pure. Down to earth. A living space for bold personalities with refined taste, an appreciation for small details, and the finer things in life.”

Slide 3 - Verve Suite @ KL South

OMG, normally first thing in mind for less than 600sf unit would be … … “Pigeon hole that you can see through whole unit in one glance?” Let’s see.

PropCafe will emphasis more on this type as small unit normally is more challenging to make it BIG. PropCafe observed that BKP has paid a lot of effort to do up the unit and ID before offering it to buyers. Instead of a studio, it made a one bedroom unit with a wall separating the living area. Most of the time, it will look very “squeezy” for one bedroom unit by this size especially the longish layout. Surprisingly, it feels very liveable. The quality of the kitchen is quite good that comes with dark greyish modern design together with an island and full mirror wall. It matches perfectly with its timber flooring colour too. Mind you, yes, it still can fit in three seater round dining table set with a cabinet. There is windows at the side to get some sunlight, so no ventilation issue.

Living hall size is reasonable which has space of a carpet in between the two seater sofa and TV cabinet.

TYPE A FF

Bedroom comes with a very solid IDed custom made door. In side the room, the door and whole wall are mirror. Other than the wardrobe and the bed, there are still TV shelf and full height cabinet and bathroom looks very functional as well. No complaint here. PropCafe felt that it is more like a 700sf than 555sf unit. Good ID works that not easy to replicate.

TYPE A FF1

Next is my favourite unit – TYPE B Mulberry Stiletto with 876sf (Two Bedrooms)

“It’s all about presence: a mesmerising combination of confidence and allure. A feeling reflected in distinctive textures and bold edges. Amidst tones of black, white and grey, a sudden burst of colour brings sensation and energy.”

Slide 4 - Verve Suite @ KL South

The theme is just similar to theme of Type A with colour blend between black, white, and grey. No natural light issues as every part of the unit comes with window except the kitchen. The imported furniture looks premium and PropCafe was told even the wallpapers were sourced from US. With no space constraint, sofa, dinning etc are all family size. Standard “one line” kitchen cabinet is given but unlike type A, the island is sacrificed for a bigger dining area.

TYBE B FF

TYBE B FF1

TYBE B FF2

Gen Y with small family size should like this unit as it basically has everything you  need with a spare room in mind.  Personally, PropCafe likes the theme of this ID, it comes with porsh feel and the dark colour theme does not make the place visually look smaller. Not sure it is liken by other, one of our founders loves the concrete bench in the shower area of master bedroom. Why? Ok, too long to discuss here. Lol. The smaller room can actually fit two single bed which is very considerate from developer.

The Type C – Summer Canvas with 704sf (Two Bedroom)

“A curious creation of energetic textures and clean spaces – a perfect backdrop to splashes of vivid colours and vibrant personalities. A living space to roam free, stand out and set loose your imagination.”

Slide 5 - Verve Suite @ KL South

This is more for those who like clean and less heavy ID. All white, white, and white. Two founders of PropCafe actually like this unit as the light colour brighten and giving you more spacious feeling. It doesn’t look like 700sf size and we found a second bedroom actually hidden behind the mirror wall near the dining area. Those only need single bed in second room can see it as a better choice with less dollars pay compares to Type B.

TYBE C FF

TYBE C FF1

TYPE D – Infinity Edge with 729sf

“This living space flows with rustic appeal and polished ambience. Floor-to-ceiling mirrors create space, while warm textures add character. And, of course, its most charming feature: hideaway rooms for the curious explorer.”

Slide 6 - Verve Suite @ KL South

This unit comes with more rustic and wooden cosy theme. Less mirror is used and the wooden texture on the cabinet make it more HOMEY than the rest of the units. One thing that every visitor will “play” in this unit is the “cabinet door”. The hidden single bed room behind the cabinet is the highlight of this unit (see video clip below). The solid mechanism (without a track!) has been built-in to ensure the seamless closure of the door. It will probably cost you a bomb to get carpenter to do it for you, only if you can find one. Again, sofa, dining set etc. do look like quality imported furniture. Retirees’ top  choice, PropCafe believes.

TYBE D FF

TYBE D FF1

After visited all show units, PropCafe realised the corridor outside the units are plain and no attention has been given. The purchaser pay more than RM1,000psf, they do expect the hotel corridor feel with some art and ID to be included. Also developer should get the interior designer to do a more creative plaster ceiling in certain areas and level up the ceiling as much as possible. This enhancement should go to each unit too. Good news to buyers are the developer will totally re-furbish the lift, entrance lobby, and carpark area to match its premium proposition. The newly refurbished lobby in another tower, which is due to officially open for public, will be completed soon. More component of the property can be physically visualised soon, just like the Sky Bridge.

How does PropCafe sum it up? For readers that familiar with our review, Propcafe always emphasize on layouts that practical and efficient. In essence, PropCafe does not want too many corners that constraint the furniture placing. PropCafe wants natural air and lighting flowing into all rooms and living. However with Verve Suites KL South, PropCafe immediately recognized that we couldn’t use the similar judgement in this project. This project is all about Interior Design where most probably PropCafe wouldn’t able to achieve the similar effect and result if PropCafe is doing it ourselves or even engage personal ID to carry out the renovation.

Just for example wallpapers and some furniture used in the units are imported from US, Belgium, or Taiwan and not available locally. Some of the design involved mechanism that under appreciated. In Infinity Edge, the guest room is cleverly hidden behind a heavy book shelves that swing smoothly without any tracks or visible hinges.

The full floor to ceiling mirrors are cleverly used in selective area to exude sense of space. The attention to detailing epitome the pride of the Bukit Kiara Properties in its development. Even the down-light fittings are special to exude the class. Furthermore, to complement the concept, Grohe fittings are used throughout the bathrooms.

light and sanitary ware

Fridge, Microwave Oven, Washing Machine/Dryer, Hood and Hob are from Bosch.

borsh

Recently, many properties owned by PropCafe founders were VPed and due to renovate. Therefore, PropCafe is still very “fresh” on the latest costing on renovation. To just simply done up a simple renovation with standard unfanciful built-ins and a piece or two nice furniture in a KLCC 600+sf unit (without kitchen) already cost us RM40k. BKP provides a lot of cabinet and quality furniture. So, to go back the renovation cost, and put in additional RM20k for all IDed cabinets and accessories together with a fully fitted quality kitchen of about RM20k, it will work out easily RM100k. Also, if you visit the show units, you would realise all the doors, be it bedroom or bathroom, are those custom made heavy duty door with solid mechanism. But equally, PropCafe was concerned on it as the maintenance part could be a headache to owners though it will be covered under defect period given by developer. PropCafe has suggested to the sales person on the idea of full transparency on the carpenters or related vendor list to owners so that owners can easily contact the related party to maintain it when it is needed, especially the “good stuffs” that given are not common in the market. Same happens to all items like wallpaper, cabinet, wardrobe etc. Developer needs to help the buyers not just to own the house but maintain it too with minimal cost possible. All in, premium ID but does it worth? Other than “Time is money” that discussed, PropCafe sees the value is there as the ID and furniture are in fine details which also optimally make the size of unit becomes less concern. Yes, the power of ID which you need to pay, of course.

CATALYST and FUTURE INFRASTRUCTURES. What do you look forward?

In property investment, it is no longer location location location, however, it is related to future catalyst and if you are big fan of Ho Chin Soon, he advocates follow the infrastructure. Within the 3km radius of Verve Suites KL South, few massive developments are taking place. Aside Mid Valley Megamall, a famous landmark and popular mall among KVlite, two giants malls will be built just south of Taman OUG and Bukit Jalil. In Taman OUG, WCT will build Paradigm OUG integrated project with RM4b GDV on 57acre of land that acquired for RM450million. Similarly, another public listed company Malton already embarking with another mixed development in Bukit Jalil aptly called Pavilion Bukit Jalil. At 2 million NLA, the mall is as big as Midvalley Mega Mall. Another massive project is 58acres Pantai Sentral Park developed by IJM. Currently on the second residential launch, there will be commercial component on the massive project. However at this junction, Propcafe does not know the detail of the plan.

Under Economic Transformation Program (ETP) mooted by government, Angkasapuri will be redeveloped into Media City. Within the close proximity, SPSetia is building massive KL Eco City where most of the office space already sold to organization and strata owners. In addition, in Bangsar South and Pantai, UOA is buzzing ahead with its commercial projects. Horizon was already completed and currently bustling with office activities. UOA is constructing Vertical and soon will launch Vertical2 due to high MSC status office demand in Bangsar South. All the commercial activities bode well for residential within close proximity due to housing demand from local residents as well as expatriate. Obviously there are plenty of choices, however, the Verve Suites KL South is the only project so far in the vicinity that already comes in fully furnished with interior design theme for discerning residents.

There is no shortage of future upgrade in the vicinity. Aside the NPE new access, plenty of infrastructure projects mooted by government under GTP. LRT Ampang-Putra height almost completed and full operation is expected by end of 2016.

There is proposed Monorail extension from Sunway to KL Sentral with one station linked with 9Seputeh which just a short drive Verve Suites KL South. However unlike KVMRT2 and LRT3 up until today, there is no official announcement yet.  And finally mother of all infrastructure project, expected to cost both Singapore and Malaysia government RM38b to build when completed in 2022, the HSR will provide massive catalyst and reduce the traveling time to 1.5hours, city centre to city centre. The HSR final terminus is located in Bandar Malaysia, a 495acre RM20billion GDV redevelopment of Royal Malaysia Air Force (RMAF) Land. Bandar Malaysia is easily accesible from East-West highway where at the moment you can see the massive RMAF land on the left of your way to KL. Finally to improve the public ridership within the urban area, With length of 52km, KVMRT2 will link between Sungai Buloh and Putrajaya just opened for the public feedback. Preliminary consists 36 stations and snaking at Jalan Kepong and Ipoh at the north before going underground in the city centre area, KVMRT2 with nearest future station to Verve Suites KL south is S23:Kuchai Lama that located in Kuchai opposite Ajinomoto factory. The station is approximately 2.5km which is a short driving distance away via Jalan Kuchai.

All work and without play will be a boring life. An eyesore for Pantai resident in the past, the existing aerated lagoon sewage treatment facility has been upgraded into a mechanized underground sewage treatment plant (STP) with myriad of public amenities on the 16acre of land. When the project expected to be completed by end of 2015, the STP Pantai 2 GreenPark will boost facilities such as badminton courts, futsal, sepaktakraw, football field, kindergarten, jogging track and many more. For more information, refer to the link http://www.pantai2stp.com.my.

Slide 8 - Verve Suite @ KL South

Future PROSPECT 

The Verve Suite KL South is a niche project development targeted for up-graders who refuse to compromise its strategic location. Over the past PropCafe saw gradual commercial developments in area and the residents here can expect more over with new infrastructure such as new highway link to NPE, LRT line extension.  PropCafe is sure these new infrastructures will complement well and will be the icing on the cake. Put aside the subjectivity of the attached premium and focus on location, ultimately, its location at central of the Old Klang Road fronting Verve Suites KL South will be able to stand out, and able to stand the test of time!

MENU for Investor and Own-stayer 

Lastly, PropCafe talks about how to own this piece of Apple with latest IOS.

Ok, what really caught PropCafe’s eyes was the schemes that available from developer. It basically caters for all groups of buyers with different risk appetites. As an investor, normally PropCafe will first look for anything that can reduce the investment upfront cost so that the investment can have a better ROI. That’s, of course, available just like other development projects.

Then, there is another package for those investors who are still eligible for LTV90 loan and not so concern on upfront investment or down payment (own-stayer). They can opt for the scheme like almost free instalment for 2 years after vacant possession (VP).

So far, nothing special, right? How about something like “principle protected investment” product? It seems like the developer is super confident on its product as this package allows the buyer or investor to sell back the property to the developer 2 years after the vacant possession with the nett price that the buyer paid. It means that you can hold the property to stay or rent in first two years and developer is obliged to buy back from you if you decide to exercise this option based on the condition of market price or rental market during that time.

To those investors who are not confident (or lazy) to rent it out by yourself, you can always opt for the guarantee rental scheme for 3 years. With the name of Bukit Kiara Properties, the risk of default on rental payment is very minimal.

Just like the premium that you pay for ID and fully furnished items discussed earlier, it is more like  a what is the offering fits your need kind of question. And surely, certain amount already built-in the offering price but most importantly, does it helps you to own a house or help you on your investment? Different peoples have different cash flow condition and different risk appetite. PropCafe would say it gives good options for both own-stayers, retirees and investors to own a property.

Conclusion

BKP is rather low profile in promoting and selling this Verve Suites KL South.  Not sure about its marketing plan, but how about buffet cum movie night at SkyBridge for customers or PropCafe readers? Why? Because this Verve Suites is about see it to like it kind of product. Solely on paper, it will not entice anyone, they must get people to go there to touch, feel and enjoy the lifestyle.

PropCafe has covered all the components on its Premium and Intangible Values, but both still are very subjective. The answer normally is very straightforward, either you love it or move on. So, Prada or Coach? Apple with IOS or Orange with Android? The choice is yours!

BKP Gallery KL South

Website : http://www.vervesuites.com/klsouth/index.php

GPS Coordinates: N 3 05.526, E101 40.449

Opening Hours: Monday – Sunday, 10.00am – 6.00pm

BKP Gallery, VERVE® Suites KL South, Jalan Klang Lama, 58000 Kuala Lumpur
Tel: +603-7980 8999 | Fax: +603-7980 9003

2 Replies to “PROPCAFE Review : Verve Suites KL South By Bukit Kiara Properties”

  1. This is crazy details! Good write… propcafe
    but where is the location of the sales gallery and also the contact no?? 🙁

  2. Hi,

    I am sales agent selling this project. Please PM me for more information or showroom viewing. Many Thanks.

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