PROPCAFE Review : Shamelin Star SoHo Residence – The Star of KL @ Taman Shamelin By Landmark Zone (Part 2)

The GE13 is just over. The sky looks clearer now and developers are all geared up and start to launch their project which they have been keeping in their sack. Property business where once was a bit quiet during the pre-election period starts gaining the momentum and we can see the post election syndrome of what happened to Elmina!

When the sky is clear after the rain, we can see the stars. The Shamelin Stars – The Star of KL.

Great… We have Star Hill and now we have another star – Shamelin Star!

 

Anyway..

It is almost months since my review of the 1^st part of Shamelin Star. Sorry to keep u guys waited for so long. It is about the right time to get the part 2 done as what had been promised in Part 1. https://propcafe.net/shamelin-star-taman-shamelin/

For those who have not read the part 1, I do recommend that you read the Part 1 before proceed any further from here.

Just a quick update…

Developer started to send out letter to those who registered earlier to inform registrants their unique registration number. This number is exclusively reserved for those who registered earlier for the pre-launch event and entitles you to their pre-launch price. The number is strictly non-transferrable.

In the letter it also mentioned that the Sales Gallery is under construction and will be completed by Mid May 2013. The date of pre-launch event  yet to be announced.

Okey Dokie… Shall we start with the background of the creator of Shamelin Star

 

The Developer

Landmark Zone Sdn Bhd, incorporated in Malaysia under the Companies Act, 1965 on 21 May 2009 and having its registered address at 38-3-1, Jalan 4/91, Taman Shamelin Perkasa, Cheras, 56100 Kuala Lumpur, has been dormant since incorporation. It has an authorised share capital of RM1,000,000 divided into 1,000,000 ordinary shares of RM1.00 each and an issued and paid-up share capital of RM250,000 divided into 250,000 ordinary shares of RM1.00 each and Landmark Zone Sdn.Bhd is 100% owned by Perduren (M) Berhad.

As far as we know, it is worth a note that Shamelin Star is Landmark Zone Sdn Bhd maiden project.

Perduren (M) Berhad  is a public listed company on the Main Market of Bursa Malaysia Securities Berhad.  The Company was incorporated in Malaysia on March 1992 under the name of Orlando Holdings Berhad and was first listed on the Second Board of Bursa Securities December 1992. Subsequently, on March 2000, the Company changed its name to Formis (Malaysia) Berhad (“FMB”) before being transferred to the Main Board March 2000.

Perduren (then known as FMB) was previously involved in the IT and garment retailing industry. With the disposal of its IT and garment businesses in 2006, the company changed to its present name, Perduren.

Perduren is now principally a property investment holding company engages in the property investment business in Malaysia. It operates in three segments: Rental, Car Park, and Hotel Operations.  Perduren owns Plaza Sentosa commercial complex that has a total lettable area of approximately 730,456 square feet in Johor Bahru; and Holiday Plaza, a commercial and office building comprising approximately 193,500 square feet of lettable area in the retail podium in Johor Bahru. It also operates a 260-room Grand Sentosa Hotel; and provides car park operator services.

One of the good thing being a listed company is their financial report can be obtained easily with the today technology.

Propcafe.Net  is not in the position to comment the financial background of any company but we would like to advise readers that regardless whether you are buying for own stay or for investment, it will be at your best interest and own diligent to study the fundamental and background of the developer especially when their name sounds new to you.

This is to give you some good sleep upon after signing the SPA. I always believe in buying property or in fact anything in life, there is no short cut. PropCafe.Net at our current best knowledge will try to share as much as we know with all readers but there is always possibility that we will missed out some important points. If there is, and you know something we don’t, kindly share with us here for the benefit of all the readers.

For more detail of Perduren including the annual audited financial report, please visit their website http://www.perduren.com.my/

For Perduren financial status, you can refer to the few following websites below:

http://www.securities.com/Public/company-profile/MY/Perduren__M__Berhad_en_1661202.html

http://www.klsedata.com/reports/company-financial-reports/perduren-m-bhd

In the midst of studying Perduren (M) Bhd, I came across 2 person names which are quite interesting to be shared here although they are not directly affiliated to this project.

Dato’ Ong Chong Sek – Also known as Dato CS Ong, the ex-CEO of Country Height (CHHB – 2003-2008) is currently the Executive Director of Perduren (M) Bhd. If you all still remember the Country Height Hillside project, then perhaps you will know who he is.

http://www.perduren.com.my/BoardofDirectors.asp

http://biz.thestar.com.my/news/story.asp?file=/2008/12/13/business/2786765

http://www.klta.org.my/news/view.cfm?id=8D81CF88-188B-76AA-004FA2B2B46416BC

Tan Sri Dato’ David Law Tien Seng, Executive Chairman of TS Law Holding – One of the Malaysia’s Top Richest man and according to the Perduren (M) Bhd Annual Report as of  at 15 Aug 2012, is one of the major share holder of Perduren (M) Bhd with 26,000,000 shares (19.27%).

http://www.tslaw.com.my/

http://www.tnt.net.my/Taikor-Watch/david-law-tien-seng

http://top10malaysia.com/home/index.php/special-features/malaysia-s-top-40-richest

http://www.theedgemalaysia.com/sports/157886-cover-story-surprise-sale-of-the-icons-east-wing.html

http://www.mmail.com.my/story/ts-law-cashes-out-icon-tun-razak-rm47m-profit-50672

 

Koperasi Shamelin Berhad was registered on 13 April 1971 as a society with limited liability under the Cooperative Society Act 1993. Its registered address is at 38-6-4, Shamelin Business Centre, No. 38, Jalan 4/91, Taman Shamelin Perkasa, 56100 Kuala Lumpur. Koperasi Shamelin Berhad, which has 22,424 members and a share capital of RM12,531,156.61 as at 31 December 2010, is principally involved in investment holdings, consumer financing, property development, multi-level marketing and agro-based businesses. Koperasi Shamelin Berhad is the registered and beneficial owner of the Land.

 

The Project

The developer of Shamelin Star is Landmark Zone Sdn.Bhd. (LZSB), a 100% owned subsidiary of Perduren (M) Berhad (PMB) . On Feb 2011 Landmark Zone Sdn  Bhd (Company No. 857848-V) (“LZSB” or “the Developer”) has entered into a Joint Venture Agreement  with Koperasi Shamelin Berhad (Registration No. 4624)  (“KSB” or “the Proprietor”) for the development  of the the Land comprises of two parcels of non-contiguous land (separated by a road) measuring in aggregate approximately 2.36 acres held under PN 31207 Lot No. 11749 and PN 31208 Lot 11750, both in the Mukim of Ampang, Daerah of Kuala Lumpur, held under leasehold titles expiring on 11 September 2082 into a mixed development project  called Shamelin Star SoHo Residence.

Lot 11749, measuring approximately 1.45 acres, has been approved for commercial development while Lot 11750, measuring approximately 0.91 acres has been approved for use as a car park.

The parties intend to acquire certain parcels of leasehold land contiguous with and adjoining the Land measuring in aggregate approximately 0.64 acre, and to amalgamate the same with the Land, with the amalgamated land measuring approximately 3.0 acres in aggregate.

As per announcement dated in Feb 2011, the project is tentatively proposed to comprise of service apartments and retail units, but the final development mix is subject to change depending on market survey and research. The Gross Development Value (“GDV”) of the Project is projected at RM220 million based on the tentative development proposal and regulatory approval of 1:6.5 in respect of the plot ratio. The actual GDV, however, is dependent on the final development mix and plot ratio approved and market conditions at time of launch.

The developer had obtained the bridging finance from Malaysian Building Society Berhad (“MBSB”) for purposes of financing the development of the Shamelin Star.

 

The Location

 

The Façade

There will be 2 modern blocks of 37-storey (including 6-storey car park) high buildings name Capella and Rigel and the total number of units are 630 . Could it be the highest at this area? Gosh… 37 storey! This is awesome! The façade is quite decent.  The architect of Shamelin Star is DMP Architect Sdn Bhd  which previous they did it for the high end Marc Residence and Hamsphire Residence KLCC.  I kinda like the façade. In my opinion, could be one of the best around this area until today.

 

The View

37-storey high with choices of unblock view of either the KLCC view (North-West), the 61 acre of park view (South-West) or the mountain view(North-East). Please do take note on the KLCC view where there is HTC cable and also Besraya Extension Highway which is under construction. So which view you prefer? For me, I personally like the North East Mountain View , maybe because I like to see the sunrise coming out behind from the mountain.

 

The Main Entrance Statement

This will be quite interesting to observe how is the developer going to transform the current 0.64 acre land which is serving as car park beside Perduren (M) Berhad into a grand main entrance statement.

 

 

The 61 acres Public Pudu Ulu Park

I think I had mentioned before that the park is directly across the main road of Shamelin Star. Although is directly across but one need to walk quite a fair distance to the traffic light in order to cross this road safely. Don’t even think that you can walk across the main road from the Shamelin Star entrance to the park unless a pedestrian crossing is gazetted or a pedestrian bridge is built. Nevertheless, it is good to have this public park in front of Shamelin Star because atleast you know there won’t be any eye sore building or tower will be built on this reserved land.

 

The Facilities

For the facilities, I think there is nothing to shout about. Pretty standard for me for this day. With the  limitation of the land size, I do not really expect anything fancy can be pulled out from it. I am more curious on how much of “Green” is allocated for this project? and who is the landscaper? We will dig more about this info during the pre-launch.

 

Green Building Index (GBI)

It is kinda cool to have a GBI building in Taman Shamelin! Everyone likes Eco Green building. I am wondering will this contributing to reduce the maintenance fees? Everyone been talking about GBI certified building, but what does the developer  exactly has in the Shamelin Star’s blue print to make this one of the most environmental;y friendly building?

 

Accessibility

 

I think I had covered this part on my part 1 review of Shamelin Star. Please take note that the new Besraya Extension Highway which is just right beside Shamelin Star is already under constuction.

 

The Layout

 

In total there are 8 types of layout :

Type A : 1272sf 2Bedroom + 1 Office +2Bath

Type B:  1054sf 2Bedroom + 1 studio + 1 Office + 3Bath

Type C:  897sf 2Bedroom + 1 Office + 2Bath

Type D: 774sf 2Bedroom + 1 Office + 2Bath

Type E: 1587sf 3Bedroom + 1 Office + 4Bath

Type F: 893sf 2Bedroom + 1 Office + 2Bath

Type G: 844sf 2Bedroom + 1 Office + 2Bath

 

You will notice that all layout come with min 2 bedrooms and 1 office! And probably you will ask the question why there is office in the layout?  Well, I guess Shamelin Star is the true  SoHo! LOL.

As you notice some “Office” could be possible to be converted into Bedroom but some is too small that can be only used as a store or a single chair-desk work place. I think the key here is depends on individual creativity on how to make use  and utilize the space of this office area. One good thing is all the “Office” come with window for better ventilation.

Type B is the only layout that comes with a Studio! A studio in the SoHo! Personally I like type B the most due to the reason of there is 3 Bathrooms and most important the layout design adopting the horizontal layout (Wider Width and Shorter Depth) with all the rooms located parallel with living hall from one corner to the other corner of the house so all room will have the same view as the living hall view. Generally speaking, this kind of horizontal layout design will give you more spacious feeling as compared to a typical vertical layout unit (Narrow Width and Longer Depth). Nowadays it pretty hard to get the Horizontal Layout Design in highrise.

Type E is the only layout that all bedroom come with attached bathroom!

 

Car Park Issue

Now with all the layouts come with min 2 bedroom, the question is how many car parks will be given for each unit? Shamelin Star being built on this prime land, I don’t think the car park price will be that generous! The fact is as much as most of us agree, 2 car parks per unit is rather a necessity and in fact I think most likely it won’t be enough as you can see quite a number of layout where the office can be used as bedroom. On this part, developer really has to examine on this and putting a deep thought for the solution. I am pretty sure we don’t want to see double parking at Shamelin Star. Could it be possible that Shamelin Star is situated near to LRT station, so developer is expecting the future owners of Shamelin Star will not own more than 2 cars per unit? If it is so, I can tell most likely they are wrong.

Commercial & Retail Units

As far as I can remember, this project does come with a proposed of commercial element with basement car park. Could this be the solution  for the car park issue?

From the developer website, it never mentioned any single info regarding the commercial element beneath this Capella and Rigel buildings. Perhaps we shall leave his question till the pre-launch event but this is definitely an important question. Knowing that Shamelin Star is located among the quite old shoplots area, I am very curious on the actual human traffic of Shamelin Star’s commercial element. Although Shamelin Star could be one of the highest building in Taman Shamelin or Taman Maluri, but due to the fact of Shamelin Star is surrounded by all the current old shoplots, the semi hidden commercial  of Shamelin Star is possible to be partially paralyzed and unseen from the outer traffic. The question is who will come all the way from “outside” into the commercial or retail of Shamelin Star. On this part, developer definitely really need to look into it and help the commercial tenants to pull the crowd in for example by having some influential anchor tenants. Without the developer’s assistance, Shamelin Star’s commercial will be really tough and might end up sharing the same fate as other commercial retails nearby – Half to almost dead fish. In my opinion, the success of the commercial retail of Shamelin Star might somehow has a direct effect on the value of those above residential units.

 

 

Conclusion

Until today, developer has not revealed anything regarding the package, freebies , pre-launch price and launching price. I have to admit that for this part, the Developer is doing quite good job by keeping all the interested buyers suspensed until today. There are not much info being circulated over the internet and PropCafe.Net will definitely not going to hide it and will share it unconditionally  if we know.

Well well well …perhaps developer really want to give the registrant a good “surprise” on the day during the pre-launch.

Propcafe.Net also would not want to speculate so much on the per-launch price either.

Do share with us here if you know! You are always welcome!

But  🙂 the price info that we found from KPKT is as per below :

Shamelin Star is sitting on a very strategic location in viewing of the current and future potential of Taman Maluri and the up coming proposed MRT station which is under construction already and its close proximity to the city Centre with current  two existing LRT stations nearby.

The only problem is the locality and environment of Taman Shamelin itself is not really a well developed area and lack of nice and classy commercial elements as compared to some other area. Like I had mentioned earlier, another holding back reason is the concern of the fate of the Shamelin Star’s commercial elements which looks a little bit gloomy at this point of time if the developer does not has any concrete plan or intention to bring “life” into Shamelin Star.

Someone had actually asked me before, do you think the expatriates or foreigners will consider to rent  Shamelin Star if given a choice as compared to other area which is more “expatriate” friendly ? Tough question as no one has the crystal ball. Perhaps you should ask yourself this question too.

For me is very straight forward and down to the final price and the “affordability” of Shamelin Star. I always believe most of the things can be compromised and it does come with a price tag.

Alrighty readers , hope you enjoy it.

Gota pen off here and we will talk again if there is part 3 of Shamelin Star! Live from the pre-launch? Stay tuned.

 

PropCafe.Net Review Part 1 :Shamelin Star SoHo Residences @ Taman Shamelin

PropCafe.Net Review Part 3: Shamelin Star – Sales Gallery Visit (Part 3)

Renderings and illustrations herein are artist’s impression only.

(Reference: http://www.shamelinstar.com.my/ )