Thursday, January 6, 2011

Downtown Condominium @ Bukit Ceylon

Since there has been a flurry of interests in Downtown Condo, I thought I make a piece here about this property. With Seri Raja Chulan and Menara Bukit Ceylon's prices shooting above RM600k, perhaps this is the last place in Bukit Ceylon where you can get away with around a RM500k budget for a 3-bedroom unit.



Lately, I have noticed there has been some minor work on the facade and entrance to the building. Many units inside have since been renovated but the lifts and common facilities remain drab as before.
.
The typical layout is 4 units per floor.

2 units faces the car park above. This is a prime piece of land which is awaiting development. So, the 2 units facing this car park will be facing dust and noise apocalypse for 3 years when the construction starts.


The other 2 units faces the side of Somerset Seri Bukit Ceylon and the front of the building, which is Changkat Raja Chulan. The back of these 2 units are very close to Seri Raja Chulan (picture below). So close you can stab your neighbour with a laundry pole*.




*laundry pole - in Singapore, a great number of people live in HDB flats and back in the days there were no dryers, Singaporeans dry their clothes by hanging them off laundry poles which are stuck out their windows perpendicularly from the building.... not so elegant but it is still a working solution till this day...





32 comments:

Edith said...

Hi SinLeong,

Thanks for this. I think it will be hard to get/keep a tenant once that construction starts. Also, all the natural light will be lost, especially on the lower floors. Any idea when that new construction will start?

Anonymous said...

any views on sunrise up and coming development solaris KL?

Anonymous said...

solaris is up n coming? it's been around for more than 2 years. i think the prices seem to be stagnated (abt RM600psf). downtown condo was RM400k 2 years ago and now it's > RM500k, justified or not there seems to be a rise. anyway, i'm not too familiar with mont kiara so better get others who are to comment.

Anonymous said...

hi sin leong,

have u heard anything about the jelatek suria?

Anonymous said...

Heard the lelong price 2yrs ago only $350k or less. Those got from lelong units laughing to the bank.

Bob C

sinleong said...

if i'm not wrong, suria jelatek is the leasehold patch at the junction of jalan ampang and jelatek... it's developer by DBKL and majority of buyers are DBKL staffs. with all due respect, i have a lot of reservations about buying high end properties where the neighbours are all government servants...

sinleong said...

i'm just curious, with the currently quoted high prices, are there any actual buyers?

Anonymous said...

hi Sin Leong,

i am contemplating about buying suasana bukit ceylon type B1, the ones offered to Singaporeans with full funishing, it's going for RM1.3m. i am new in the property market but would like to have a place in the heart of the city for investment now and future for own stay. i have read your views earlier regarding John's questions. Do you think that the price will come down after completion 2013? Appreciate your views. thanks. su

sinleong said...

whether the price will come down or not depends on who r vested in it. if they are mostly speculators then it's riskier. But since suasana was launched when bank negara fixed lending at 70% for 3rd property, then i believe there are less speculators in suasana compared to say... vipod or st mary... high end niche projects r better to invest in. avoid those high density ones. rich people r less likely to sell at a loss. they'd rather wait out the bad times n sell when they can make a profit. so, u want to be among this group. i really dont know about suasana but in my personal opinion 1.3m is a lot to pay for that location. it's on par with st mary, verticas, vipod, quadro, soho@KL or even existing ones like marc, meritz, binjai, idaman etc... u really have to shop around n compare

Anonymous said...

Dear Sin Leong,

Hi! Thanks for the comment. it is kind of high density for such a small area. 12 units of condo on one floor is sort of crowded. maybe i will look at sommerset bukit ceylon. what do you think is the fair price for that condo? appreciate the advice.

regards su

sinleong said...

12 units per floor? downtown only got 4 units per floor. somerset has 12 units per floor.

Anonymous said...

oic. anyway, i am having a look at somerset today. what do you think is the fair price for somerset now, considering that both Msia and singapore have tightened their property rulings? from your previous comments, i gather that downtown is a bit old.

thanks.
su

sinleong said...

which unit? floor, size?...

Anonymous said...

Hi SL,

Do you know what project going to take place besides Menara Bukit Ceylon? You know the empty carpark between MBC and the formal Menara Bolton. Yesterday, they finally close the carparks.

Bob

sinleong said...

should keep a lookout...

Anonymous said...

Today saw the board saying demolishing in progress on the car park site next to Menara bukit Ceylon. am wondering which new project is coming up ............

Anonymous said...

Hi Sinleong, Can you help me, and I am sure others, try to understand how and why Agents pitch asking prices? I see on IProperty that Menara Bukit Ceylon has a lowest asking price of MR635,000 and a highest one of MR900,000 and 15 other apartments for sale with asking prices between these two extremes. But what are the apartments actually selling for at the moment? Or are they selling at all, since little seems to be removed from the lists of the IProperty Agents?

sinleong said...

RM635k for menara bukit ceylon is quite reasonable. i remember this is the asking price some 3-4 years ago. however, i think this must be for the smaller units. there are quite a few choices in bukit ceylon these days. the newer ones are priced above RM1m now for a similar sized unit as the 2+1's in Menara bukit ceylon.

Anonymous said...

Saw this article in Low Yatt. Wonder taken from where.

Must be referred to the empty land next to MBC.

Bob




It’s ‘hot’ at Bukit Ceylon
Submitted by amir azree on Tuesday, November 24th, 2009
27-storey service apartmentBukit CeylonKuala Lumpur City HallLocalMenara Bukit CeylonStephen Francis
Condominium residents object to proposed service apartment project
NAJIAH NAJIB
Tuesday, November 24th, 2009 09:27:00

PROPOSAL: The City Hall notice outside Lot 124, currently utilised as a private car park in Bukit Ceylon
RESIDENTS of Menara Bukit Ceylon are hoping that City Hall will not approve a 27-storey service apartment project next to their condominium.

On learning of the proposed development via City Hall’s notice in two local dailies recently, the residents claim that the project proposed by Eminent Ace Sdn Bhd does not meet the required guidelines as stipulated in the Kuala Lumpur Development Control Plan 2008 (KLDCP 2008).

In their objection letter to City Hall dated Nov 9, the condo’s joint management body (JMB) pointed out several
alleged indiscrepancies in the developer’s building plans.

“Under the KLDCP 2008, Jalan Ceylon is categorised as a residential zone but service apartments are categorised under commercial land use,” JMB spokesman, Stephen Francis, told Malay Mail.

“Jalan Ceylon is congested enough as it is. Not only the narrow road is a popular short cut for vehicles heading
towards Pudu from Jalan Raja Chulan, but the popularity of nearby Changkat Bukit Bintang as an entertainment and dining area has caused congestion resulting in illegal roadside parking, illegal parking on pedestrian footpaths, traffic obstruction and overall damage to the livability of the neighbourhood,” said Francis, adding that the congestion would worsen if ample parking spaces was not provided for the proposed service apartments.

It was learnt that the suggested project would comprise 209 units, four levels of podium parking and two levels of basement parking. The KLDCP 2008 also outlines that developments of service apartments are prohibited
altogether in residential zones.

“Prohibited uses are clearly specified under the KLDCP 2008 so that the character of a place can be preserved. City Hall should not approve proposals that intend to change the land use to put in place a building that is specifically prohibited by the original land use in the first place,” said Francis.

An industry expert who did not want to be named told Malay Mail that changing the land use from residential to commercial and from apartments to service apartments was a common tactic used by developers to build more units but reduce the number of parking bays required.

Other alleged irregularities in the developer’s plans adduced by the JMB include concerns on road surrender, building setback and the proposed development intensity of an 8.0 plot ratio, that apparently exceeds the maximum allowable plot ratio of 5 for residential zones.

A spokesman from Eminent Ace Sdn Bhd said the proposed project was targeted at overseas buyers, particularly from Singapore and Hong Kong.

“The service apartments are for owner-occupancy. We opted to build service apartments because the term condominiums would not entice high-end buyers, who would require additional services such as housekeeping,” the spokesman said.

con't

Anonymous said...

(con't)

He added that if all went well, the company plans to start construction by the first half of next year. A spokesman from City Hall Town and Planning Department clarified that it had received the objection letter from the JMB and was looking into the matter.

“Although we have received the proposal from the developer, no decision has been made whether to approve or dismiss the project. The deadline for objections from residents is Nov 27. Even the KLDCP 2008 is not finalised yet, therefore we are still able to negotiate with the public on such matters,” the spokesman said.

However, he said, the project proposal will be scrutinised, adding that 100 per cent parking bays are necessary if the developer aimed to make the service apartments for long-term tenancy

Anonymous said...

Hi sinleong
I have a unit in seri raja chulan with unblock view down bukit ceylon toward bukit bintang. Do you know what would be the value of the unit (1483 sq ft)? Can I achieve $530 psf ?
Thanks

sinleong said...

no. u'll need to have very good reasons to sell at that price... e.g. you got tenants paying you RM6k rental per month?

Anonymous said...

sinleong in that case I take it $730K is a fair price?
Since you live in the area your view is appreciated.
Can I trade into something else?

sinleong said...

with the current tenancy around RM3500 to RM4500, i dont think downtown is worth any more than RM500k or 550k

apex property investment said...

Hi Sinleong, I've invested in Somerset Seri Bukit Ceylon. Do you think 640k for a 15th floor unit 730 sqft fully furnished is fair? I'm thinking of one more unit there, a smaller unit, at what psf is fair or is there another unit somewhere else which is a better investment? Looking forward to your advice. Ck

apex property investment said...

Hi Sinleong, I've invested in Somerset Seri Bukit Ceylon. Do you think 640k for a 15th floor unit 730 sqft fully furnished is fair? I'm thinking of one more unit there, a smaller unit, at what psf is fair or is there another unit somewhere else which is a better investment? Looking forward to your advice. Ck

sinleong said...

u might be able to get one of the smaller ones 640sf facing klcc for slightly less. actually there is no difference in the rent whether 640sf or 730sf, the layout is the same. much depends on the furnishing. also the 730sf units , if im not wrong, faces the One construction site which is noisy and turn tenants away

apex property investment said...

Hi Sinleong, I was told the unit is the Maybank view so is it a good side? Im also looking at a unit which have a menara tower view. 591 sqft. Is this a good buy? Bare unit, mid floor. Original condition means need renov and furnishing. What is a good price to pay for this unit?

sinleong said...

the unit facing menara maybank i.e. bukit ceylon has half of the unit facing a wall... the living room faces bukit ceylon but the bedroom faces the wall. the wall is only about 4m from the balcony.

the 591sf facing KL tower is good, if u r able to get it cheap. u must ensure that u will still be able to get reasonable returns by collecting only RM2500 to RM2800 rent.

apex property investment said...

Would it be easy to rent out? Given half the unit facing a wall? I was told it faces downtown condo and from the picture, I could not tell if it's a wall or downtown condo. Do you have the floor plan of the floor? Where each unit is located?

sinleong said...

somerset has just returned all the lease units back to owners. so, if you look at the rentals and sale notice board downstairs of somerset, it is plastered with ads for rent. but i think this scenario is everywhere and somerset is still one of the preferred options for expats.

the wall is the lift lobby. downtown condo is a bit further away so if you can see downtown condo with your eyes at your floor level, then you wont have any views at all except for a wall and someone's bedroom.

i have the floor plan and see how to get my scanner to work so that i can upload it for u to see

apex property investment said...

Hi Sin Leong! Gong Xi Fa Cai! I check some photos online and it appears the 15th floor clear the 11 floor of downtown condo. I was thinking the empty carpark lot if someone were to build on it, it would be at least 30+ storeys and that would be bad and block out everything. If you have any lobang on the 640 sqft unit, or other interesting investments, let me know.