PROPCAFE Peek : Southbank Residence @ Old Klang Road By UOA

Next to Ara Damansara, Old Klang Road seems to be the rage these last 12 months.  We’ve seen the launches the like of Suria Pearl (Aikbee Timbers),  Residency V (near Pearl Point), 9 Seputeh (Gapura-MRCB), Avantas Residence (CPI Development), Verve South (Bukit Kiara Properties) ; and further into Old Klang Road, the likes of Petalz (Exsim).

Future launches on the opposite side of the Klang River includes Pantai Sentral  Park (by IJM) and Nova Pantai Residence by Malton. Below are pictures of Pantai Sentral Park, taken near the Pantai NPE toll plaza, heading south.

 

Now we have the latest launch, Southbank Residence by the UOA Group.

It has not been officially launched due to lack of Approval Permit, but that has not stopped developer from collecting cheques – which are payable to a stakeholder.

There altogether 2 blocks, which are in an L-shaped orientation.  If you have seen Le Yuan (both by UOA), then you have a rough idea of what I am talking about.  There is a total of 37 floors for both towers, first 10 floors are mixed between carparks and offices. Facilities are on the 11th floor.  Current launch is 12-17th floor, and 30th to 37th floors. Le Yuan’s artist rendition as follows.

 

Block A has a north/south orientation.

North – faces KLCC/KL Tower view, could be obstructed by 9Seputeh (4 residential towers of 40+ storeys each).

South view faces pool, and the rest of Old Klang road (i.e. Scott Garden, Pearl Point, etc).

 

 

Block B (first launched on Friday), faces an east/west orientation.

East – faces Taman Desa, potentially blocked by future Avantas Residence, whilst West directly faces Bangsar South/Kerinchi view – currently ‘loji kumbahan’ as well.

 

There are a few different units sizes, starting from 7xxsf (1+1, master bed room + study room) to 9xxsf (3 rooms + 2 bath)

All units come with 1 car park regardless of size.

Indicative maintenance is RM0.22/psf  inclusive of sinking funds.

As of today, Saturday (1/3/2014), all east facing units in Block B has been fully taken up, whilst partial of Block B west facing is still available.

Indicative price after discount, is around RM630psf (for west facing unit); and around RM680psf (for east facing units). Like a taikor said, one can easily find good window tinting for <RM10k, so West facing units could carry some potentials as the price differential is quite great.  The prices increase by RM1,000 per floor.

Units are all bare, no kitchen cabinets, wardrobes etc, just comes with air-cond points.

Sample pricing, Block A corner unit, pool facing (south) , 978sf (3 room, 2 bath)

Price                                :  RM 759,800

Discount                           : RM 55,000

Price after discount : RM 704,800 (SPA Price)

• 5% Discount :                 RM 37,990

Price after discount :     RM 666,810

PSF : RM 681, total due upon signing of SPA  : RM 27,990 (after minus initial booking fee of RM 10,000)

 

 

The current package is :

–       UOA is giving RM55,000 off all the listed price, then you get the nett price (which is the SPA price).

–       In addition to that, there is a 5% discount from the SPA price.

–       Therefore, a purchaser will pay only RM10k for booking, and balance of 5% – RM10k upon signing of SPA. As this project is expected to receive its APDL in March, signing could take place as early as April.

Units are being snapped up fast, at least this round UOA is being transparent (unlike Desa Green or Scenaria) – more of the details of this project can be found at the UOA show village in Bangsar South.

Comments

–       I personally like this OKR stretch – it is like 9 Seputeh, ala at the mouth of the OKR, unlike Pearl which is at the belly, or Petalz at the tail-end towards PJ state.

–       This stretch is easily accessible via Old Klang Road or via Taman Desa, is using the OKR then the U-turn is a must. Observe the picture above, OKR is even jammed on a weekend.

–       Just 10 minutes away from MidValley, easy access to Federal highway, Seremban Highway, Connaught highway, (future NPE link ? that will also mean future Komuter link?) as well as proximity to KL Sentral and future KL EcoCity.  UOA also touts “500m to future monorail”, but I wouldn’t really use monorail as the deal clincher.

–       Price of RM680psf is not cheap, buyers/investors are urged to consider properly the exit plan, unless it is for own stay – then the considerations are different altogether.

–       Or use Scotts Garden/Saville Residence as benchmarks. Indicative asking rentals ranges from RM1500 (Scott’s loft studio) to RM2500 (Saville’s 1 bedder upwards)