hope to look for advice from intelligent investors here.
wanna check, is it worth to invest in Condotel, 99 Residence at Jln Tun Sri Lanang? located in between Renaissance Hotel and Prudential Building, to be constructed, launching in this coming weekend (19-1-13), relevant info:
1) freehold
2) RM 540 psf onwards, total 391 units, standard suite 492 sf per unit
3) sell & lease back contract for 15 years
4) return: 1st 9 years at guaranteed 7.5% pa, 10th to 15th year at unguaranteed 8% pa.
5) free SPA, no DIBS, free maintenance, free refurbishment every 5 years.
6) shd pay sinking fund 0.5% of SPA price p.a.
7) managed by PTS properties, similar management body to Jaya 99
8) soft launch almost 50% sold
Please comment ..