Flexis @ One South at Seri Kembangan

Project name:          
Flexis @ One South
Area:                       
Seri Kembangan
Developer:               
Prop Park Sdn Bhd 

Type:                      
SOHO
Tenure:                   
Leasehold (Commercial Land)

Price range:             
from RM256,564
Size range:              
from 475 to 1,271 ft2

Price/ft2 range:         
from approx. RM540/ft2
Total Units:
424units

*Above info @  Jan 2012 
 

You can get more info from following website:
http://www.huayang.com.my
http://www.iproperty.com.my/developments/developmentreview.aspx?pid=2314

The Developer: 
Prop Park Sdn Bhd is a wholly-owned subsidiary of Hua Yang Berhad which started business since 28th Dec. 1978 (approx. 33 years in business) and majority of their developments are in Perak. They also have development in Klang Valley, Johor and Negeri Sembilan.

Hua Yang is listed on the Main Board of KLSE ~ current share price is 1.69

They are the one who develop Gardenz @ One South [Refer to My Previous Blog] too.

Location:

Sri Kembangan is quite far away from KLCC, it is in between Puchong and Kajang. The Site Location is closed to The Mines.

Google Map

Price:
Compare with other SOHO developments:

• Central Residence @ Sg Besi ~ price from approx. RM622/ft2 (price info @ Nov 2011) ~ Flexis @ One South is approx. 13% lower [Read My Previous Blog]
• 591 Damansara SA @ Shah Alam, section 24 ~ price from approx. RM560/ft2 (price info @ May 2011) ~ Flexis @ One South is approx. 4% lower
• Menara U2 @ Seksyen 13, Shah Alam ~ price from approx. RM529/ft2 (price info @ July 2011) ~ Flexis @ One South is approx. 2% higher [Read My Previous Blog]

My View:

Based on the above information, the price/ft2 seems similar for SOHO unit. Central Residence @ Sg Besi is more expensive, this might be due to better location and closer to KLCC.

If you compare to Gardenz @ One South ~ a serviced residence ~ which is develop by the same company. The selling price is from approx. RM373/ft2 (Price info @ July 2011) [Refer to My Previous Blog]. You might wonder why? Is it worth to pay extra approx. 45% per ft2 for a SOHO unit? July 2011 ~ Jan 2012, a short period to increased approx. 45% per ft2? Thus you should go there have a look and compare both development before making any decision.

Based on 90% loan for RM256,564, say BLR6.6%-2.4% = 4.2% interest per annum, for 30 years. The monthly repayment is approx. RM1,129. If you are planning to buy & rent out for investment, you need to take these into consideration:

Will ppl willing to pay more than RM1,129 per month to rent a place in Seri Kembangan?

Don't forget the approx. monthly repayment of RM1,129 excludes following items:

a) Maintenance fees

b) Assessment tax

c) Quit rent

d) Interest rates increased for the loan (this is the main risk as BLR still low at the moment)

Grade A office space normally rent out approx. RM6/ft2. So for 475ft2, you might get rental approx. RM2,850/month. This estimate is on the high sides as don't forget the space you have is smaller compare to most of the Grade A office, therefore you will not get large companies as your tenant.

SOHO is still a new sector within Malaysia Property Market, so you might want to wait and see the response from investor before moving into this sector.

For RM540/ft2, I think most self-owned small business people will prefer to use their own house or condo which they can buy with less than RM540/ft2. What do you think??

Other developments with similar RM/ft2:

• Sh'ng Villas @ KL by IJM Land Berhad
• Cubist ~ Twin Palms Kemensah
• Neo Damansara @ Damansara Perdana by Paradigma Intan