Maxim Residences
Overview of the development
Maxim Residences@Cheras is developed by Trillion Maxim Sdn Bhd. Maxim Residences located behind Cheras Sentral (which previously known as Plaza Phoenix and currently redeveloped by Mayland).
This leasehold mixed development consists of 40 shoplots that located on the ground floor and 542 units of service apartment. This review will solely focus on the residential component. At the time of this review is written, the building plan already approved and in the middle of applying APDL. Sales and Purchase Agreement is expected to be signed in April. However judging from the actual progress of Sentul Prime, purchasers should keep their expectation low and there is possibility that developer will be delay in securing the APDL. Furthermore the GE is just around the corner which probably almost everything will be at standstill from now on… However, the delay maybe bless in disguise.
Location
Maxim Residences located in between Taman LenSen and Plaza Phoenix, a well-established neighbourhood in Cheras.
The site
At the moment, the site is yet occupied by trees and old house (from wikimapia it was ex Alam Damai sales office)
Current condition of the site
There are three sides of the site. KL View which will be partially blocked by Connaught Avenue, PJ View where it is partial hilly, and Hill View where Cheras Point and run down apartments located.
In general, there is nothing to be excited about the views. Those units that facing KL View is partially blocked by Connaught Avenue as well as jammed SILK highway. Furthermore on those lower floors in Block B, they are too close with elelvated Interchange Bridge from SILK to Taman Len Sen which may cause some discomfort.
In Block A for PJ view despite the soothing green view, the view will come with hot scotching sun. Apparently from the the sales chart, this view is the less favoured among the purchasers.
For Block B Hill View, the units will face Cheras Point that comes with 10storeys commercial building as well as sewerage pond especially for those higher floor units.
Those units that facing the pools probably are safest as these units not only facing the landscaped common areas, they are also facing mature Taman Len Sen. However the latest development of SUKE which will be built approximately 200metres away may cause some noise pollution in the future.
Kl City View (North Facing)
Petaling Jaya View (West Facing)
On the left is the rundown apartment of units facing Hill View (East Facing)
Masterplan and Facilities
There are two blocks which are identical and mirror image of each other. Typical floor consists of 12 units/floor.
3 bedders (Size from 1050sqft) consist of 4units/floor and all are with KL city view. The unit no is 7,8,10 and 12 in block A and 2, 3A, 5, 6 in block B.
2 bedders (size from 825sqft) and consists of 6 units/floor units are with Pool, Forest or Taman Len Sen view. The unit no is 1, 2,3,6,9 and 11 in block A and 1, 3, 7,9,10 and 12 in block B
Finally 1 bedder (Size from 619sqft) consists of 2units/floor and views are either PJ or Hill view. The unit no is 3A and 5 in block A and 8 and 10 in block B.
The unit layouts are practical and in developer mind are catered for the mass market. The bedrooms are almost equally spacious with yards, balcony and aircon ledge throwed in.
For 3 bedders type, all rooms are tucked on one side. Despite the size, the developer has managed to squeeze a walk in wardrobe space in the master bedroom. Another good point is two air con ledges are provided so that owners could save few precious bucks on the aircon installations…. However in my view, the developer has sacrificed kitchen space and if you like to cook, you will find it is quite small and you probably find difficulties to fit in your appliances. Most likely the solution is to do your cooking at the yard area. For end unit, this will be advantage as your yard is facing outside. Also the third bedroom is facing the yard and this means for intermediate unit, the third bedroom will stay dark due to yard is facing the airwell. In this case, the end lot unit will be the much better choice.
Also for the end units, the master bedroom will have L shape window compared with the intermediate unit. The window is also larger as can be seen from the scale model in next photos.
Site Plan
Block Plan
Type D (3 bedders type)
Floor layout in Block B
Typical facilities offered such as gym, bbq area, children playground, pool and multi purpose hall. Each unit is provided with 1 carpark. 4 lifts are provided for each block. The common area especially the pool is quite small when they are >500units to catered. Most development nowadays include sky garden as part of the common area. However in maxim residence despite the smallish common area, the developer has decided to do out the sky garden which in my opinion is a bit of shame and this greatly enhance the selling point of the condo.
The façade of the Maxim Residences reflects the market they target which is mass market. Unlike most development with glassy facade that asking in excess of RM500psf, Maxim Residence has kept the glassy part to the minimum on the bedrooms and living.
Scale model (Towards South)
Scale Model
Scale Model
Scale Model close up on the common area
Access, Amenities and Infrastructure
Maxim Residences is not short of amenities and infrastructures. Just opposite the developments, foodcourt is just a minute walking away and behind the foodcourt is the Econsave. Few minutes driving distance is Taman Connaught.
KK Food Court which is just opposite Maxim Residences
Under the refurbishment now is Cheras Sentral which owned by Mayland. Tentatively opened by 2 or 3qtr this year, Mayland secured bulk of the tenants. The list of the retailers includes TGV, Old Town, Fotokem, Chatime etc. For the full list of the retailers, readers can check out link below.
http://www.cherassentral.com/cherassentral/index.asp
Maxim Residences is easily accessible from SILK highway either from Kajang or KL side. From KL, you just need to follow the signboard to Taman LenSen which will take you to elevated link to Taman LenSen. The same when you need to go to either KL or PJ where you just need to take short link to SILK.
The future access will include SUKE highway which will have two interchanges. One interchange is in Alam Damai and another interchange is at SILK. The SUKE will greatly improve accessibility especially towards towards Sri Petaling and Ampang/Melawati side of the town.
Prices
The price for 1 bedder starting from RM450psf (RM279K), 2 bedders starting from RM420psf and cheapest psf is 3 bedders from RM380psf making the 3 bedders among the cheapest new developments within walking distance of the future MRT station. For each floor, the price is increased by RM1K, considered as reasonable for “mass market” condo.
Similar strategy used in Sentul Prime, despite yet to secure APDL and development order, Trillion Maxim has started to collect RM2K (payable to stakeholder) to lock in booking of the unit. The booking fee is fully refundable if the purchasers decided to cancel the booking. Below is the block A and B sales status as of 4.December.2012.
Booking Status in Block A as 4.Dec.2012
Booking Status in Block A as 4.Dec.2012
Potential and Catalysts
There are two catalysts that probably will propel Maxim Residences to enjoy some capital appreciation. First is the walking distance proximity to future Plaza Phoenix MRT station. The MRT station which is under construction at the moment is expected to be completed by end of 2017. However this Malaysia and delays are expected despite assurance from Prasarana, and Gamuda-MMC that project is still on track. Therefore IF Maxim Residences is completed on mid of 2016, the residents need to wait for 2 years before can enjoy the public transport. This is one of the reasons why it is bless in disguise if Maxim Residences is delayed further.
Source: http://www.mymrt.com.my/stations.html#prettyPhoto/32/
Another possible catalyst is the Cheras Point project which is just beside Maxim Residence. For the master plan, readers can go the link below.
http://www.tenggarateguh.com/current-cheras-centre-point.html
The developer is currently in the middle of clearing the ground. The masterplan in summary consists of commercial, office and 2 blocks of service apartments. One of the interesting components is the 10storey building which developer claim to the design built for a college.. This will be interesting as this will provide ready tenants for the unit… Also there are two blocks of 28 storeys in the plan. This will provide cost push factor to the Maxim Residences if the apartments sold at higher prices. And finally there will be direct link from Cheras Point to the Cheras Sentral therefore Maxim residences could use the link to access MRT Station rather than walking path below.
Current site progress of Cheras Point
Shortfall and Improvements
One of the qualms is the number of carparks provided. For this development regardless what is the size, just 1 carpark is provided. It is well known that carpark is always an issue especially with 3 bedders type, larger household is expected and each household will own more than one car.
Also what been informed by the developer, the unit will comes in bare ie without air cons, kitchen cabinets or heaters. This provide a hassle during renovations. In my opinion developer should attempt to provide water heater and air cons as these are standard items in apartment nowadays. Furthermore, it is quite hassle for owners to route the aircon drain piping and gas.
For investors, no rebate or discount and dibs will be offered at this junction of time.
Despite all these setbacks, it seems that nothing stopping the purchasers to book unit(s). With just RM2k refundable deposit, the booking status is close to 70% as of 4.December.2012 and should be much higher by now. However it is remain the be seen whether all the bookings will be converted to to firm sales when developer is calling for SN P signing in near future..
Also at the moment till Cheras Point is up, the access to the future MRT station and Cheras Sentral is less than ideal and something needs to do to improve the access to the Cheras Sentral and MRT station. At this moment, the only access to Cheras Sentral and MRT station is via below. Despite the less ideal roads, the whole journey should take less than 10 minutes.
- Walk towards Connaught Avenue
- Climb the slope which can turn slippery especially raining days
- Walk along the unkeep ways
- Cross the busy roads to Cheras Sentral and MRT Station
Conclusion
The development is clearly target at mass market with its affordable pricing and no frills package. There are uncertainties on the developer ability to secure permit from authorities and developer financial capabilities to execute the project incase of the economy downturn.
However, there are not many affordable mass market developments that offer good access to public transport and highway and therefore this make Maxim Residences worth a second look. On a quick glance, a higher end development in same locality developed by PJD called Youcity is selling in excess of RM600psf…
Progress Update ( 18th Jan 2015)
