Same as the Bangsar Trade Center, the Meridian 101 Degrees is linked to Best Western Hotel who will be providing a fantastic 10 year Guaranteed Rental Return:
Year 1 - 7: 6%
Year 8 - 10: 7%
But unlike the Bangsar Trade Center, the density of this project is relatively low - only 156 units of 400sf and 480sf rooms. They are essentially hotel rooms here because there is no kitchen, just bathroom, toilet and sleeping area.
The whole building is half car parks and half hotel rooms with the facilities at the roof top. The lower floors are retail but I think they will struggle to find any meaningful tenants in this part of town, especially with such low density and neighbourhood.
Each floor will just have 13 units served by 3 lifts.
The misinformation I received earlier is regarding the price. I was told the price range is between RM400k and RM500k. However, at a early bird price of RM1400sf, they are really between RM560k and RM680k. Well, it doesn't really matter since you are not paying anything for 10 years. At a GRR of 6% to 7%, that should well cover your interests payments as well as the RM0.50psf maintenance fees every month. The price is also apparently flat across all floors and units, no matter if you are facing KLCC or the other side which is Jalan Tuanku Abdul Rahman or SOGO. Car park is not provided. You may however, purchase a 10-year use of the car park for RM50,000!! I think this is not necessary....
For anyone who is still in doubt about the location, pay a visit to Yut Kee and behind the restaurant, look out for a row of abandoned shops with this distinctive window facade...
the actual buildings are these below...
3 comments:
The Soon Wai Construction Sdn Bhd is to construct a new buidling for Yut Kee cause they are moving to the new shop lot that they are going to construct.
Do you know the status of this development? Funny thing is it's never been publicise in media up till now. What's up with it?
they have a showroom at the site. chinaman developer, from style and marketing...
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