Thursday, March 7, 2013

KL Gateway at Bangsar South

The 2 blocks of low cost flats at the entrance into Bangsar South is a stark reminder that this used to be a slum area. Indeed, Bangsar South is a remake of Kampung Pantai Dalam, a dense squatter colony of zinc attap houses. Most of them have been relocated and the village razed. From the ashes, rise Bangsar South, borrowing the name of an affluent neighbour.

Developer UOA was the first to go in. Their "the Horizon" office complex was initially quiet and now MNCs and techie companies are streaming in to benefit from the MSC status address. Bangsar South has become a very hot address for companies not willing to pay KL CBD rates but want a strategic location nonetheless. While UOA is still building and investors are still snapping up their products, plots of this place are being snapped up for development by other developers. Particularly on the edge of the Federal Highway from the Universiti LRT station to Angkasapuri.

Developer SuezCap, a little known niche player who does relatively small projects, once or twice a year has got in my opinion the best piece at the corner of the Bangsar South entrance from the Federal Highway. They are building KL Gateway, a mixed project which includes a shopping mall, 2 office complexes and 3 blocks of serviced apartments, one of which has just been launched.

This block of 400 odd apartments consists of studios, 1+1 bedroom, 2 bedroom and 3 bedroom units, with an aggressive price of just over RM600psf up to about RM900psf for the small 500sf studios. The best-selling units are those small ones ranging from 500sf to 760sf facing east and the central piazza. They're almost gone with just a handful of units with the number 4 or 3A in the address left. However, I am not particularly fond of the layout because the narrow configuration means the bedroom takes up all the window, with a wall in the middle for the room privacy, completely blocks out natural light from the living/dining and kitchen area.

pic above: The 1+1 br units facing the central piazza 

pic above: the corner 2br units facing the central piazza, nice but pricey psf

pic above: speculators unit, the smallest 1br facing central piazza

The West facing units consist of bigger 970sf to 1100sf 2 or 3-bedroom apartments. Although they are less popular, the pricing starting from just over RM600k for an intermediate 970sf 2-bedroom unit is very interesting. At this price point, a 950sf unit is just under RM100k more than the 1+1 bedroom facing east which is 200sf smaller! Expect the 2-bedroom units, being the minority in the complex to fetch relatively better rental. However, the smallest units, those 500+sf ones would be easier to flip.

pics above: typical floor layout and the 2br type E, the cheapest 2br units

pic above: the type D, 2br corner units facing PJ

The sales chart below is kinda out-dated. As of 21st of March, they were all sold out.


Retha Lanza said...
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Fion said...
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sinleong said...

i'm sorry i accidentally deleted the 2 valuable comments above when i was trying clear some spam.