Exaggerated

1) I live near this area and it’s hard to get rent even past RM3k in current situation.

2) Why would anyone go for One Cochrane when you can have relatively better developments in Maluri like Velocity, UNA, Laville, Mira just one stop away?

3) One Cochrane isn’t pedestrian friendly. Distance to walk to MRT is relatively far (non-covered for now) and you’re risking getting
a worse deal since there’s a plot right next to it which might be phase 2 AND is nearer to MRT.

4) Maintenance fee last I checked was prohibitive. Have they revised it downwards from RM0.55 psf yet?

5) I don’t like the developer profile and backers at all. The main con is a Boustead subsidiary which is majority owned by LTAT. You can google LTAT or Boustead to know what kind of position they’re at.

1) Boustead paid zero dividends for FY19 - https://www.theedgemarkets.com/article/bous...clean-its-books

2) Fire sale for parts of Jalan Cochrane asset -https://www.theedgemarkets.com/article/boustead-puts-jalan-cochrane-land-sale

3) MRT is most definitely not a '3 minute' walk away. The residential area for One Cochrane is recessed into the plot of land, behind the huge car park area. So is the MRT entrance. I'd say a 'healthy' 10 minutes brisk walk, rain or shine, is closer to the mark.

4) People don't own properties for only 2 years. And you'd be naive to think developer hasn't priced in this additional cost. Additional 'rebates' are usually priced in as well (otherwise first buyers would be disgruntled). Lowest nett price was around 830k (type A) when I surveyed late last year. Has this changed?

I'm curious on how you do your analysis. Mine basically says One Cochrane is a white elephant. Not close enough to walk to TRX so have to drive or take MRT. But if driving better take Continew since cheaper. If purely MRT better take Maluri area since got refurbished AEON and Sunway group facilities within walking distance. Unless you think having Ikea across the road is a heavy premium worth paying ?

This post has been edited by zack.gap: May 24 2020, 01:29 AM

I think we all know that. My point was to illustrate that there are far better projects within/near the area that is cheaper to maintain in the long run that doesn't come with the risk of an impaired developer profile. Do you think the high asking price for One Cochrane is justified? If so, why?

I visited their showroom a few times last year just so I could grill someone different each time. Call it a gut feeling but I felt something was ‘off’ about the whole thing. I think others felt it too, that’s why the sales numbers are so low.

On a more personal level, another gripe I have is the bad ID on show units and lack of professional sales team (you deal direct with their rotating marketing team in sales gallery). For me if they’re being cheapskate before purchasing, why should I think they’ll treat me any better when already purchased a unit? With the kinds of prices they’re asking I expect a bit more I guess?

Agreed on people making their own choices but the whole experience personally left a bad taste in my mouth.

Agreed that they're unlikely to default. Judging by the progress I see when I pass by there should be no issue to VP. What should be of concern to buyers in this price range is the quality you get as well as sustainability of such a high starting maintenance fee (RM 0.55 psf).

1. Will the developer cut corners on cosmetics because they're currently facing difficulties?

2. Maintenance fees don't generally drop so will owners be looking to pay more after the 'grace' free maintenance period is over?

Well well. Since we're in the mood to cherry pick rental rates, here's what I found..


White goods only


Fully furnished

Both units are 2 bedders, freehold, on top of the mall etc.

This post has been edited by zack.gap: May 29 2020, 08:32 AM

Personally for me lah, I would buy this project only for own stay. Low density + amenities + location is quite good.

Only problem is the relatively high cost and maintenance fee but for own stay this should not be main issue.

For investment purposes, this project is completely out for me. Better off buying the various projects at Maluri for investment purposes. If really die die want to invest at Cochrane I recommend waiting for the empty lots surrounding One Cochrane to be developed/launched and then can strike.

This post has been edited by zack.gap: May 29 2020, 05:37 PM

Demand issues;
1) Currently bad economical conditions
2) 'Booster' for the area aka TRX and surrounding business area isn't 100% fully developed yet
3) Cochrane itself is an untested market. One Cochrane is the 'pioneer' of the area so not sure if demand is there.

Supply issues;
1) Too many upcoming properties to choose from. Expecting one MRT stop away at Maluri to have circa 5k-7k units in 2-3 years
2) Empty plots surrounding One Cochrane that could potentially be developed by other developers (if Boustead sells) who aren't so gung ho about low density, premium market offerings.

LOL the data definitely speaks but my question is do you even understand what you're seeing?

PMI below 50 means perceived contraction, period. Think of it in terms of acceleration and velocity. Below 0 acceleration is deceleration, 0 means constant velocity and more than 0 is acceleration. Just because deceleration is closer to 0, it doesn't mean your velocity is any greater.

Similarly just because PMI is nearer to 50 (constant velocity) doesn't mean economy is getting better. If Malaysia manufacturing output is 30% in March, a PMI of 48 just means it slowed down a bit slower, in this case maybe to 29% of total output.

Tl;dr Anything below 50 PMI is bad news in this kind of economy, period.

How is it a good sign if your output is worse than the month before (which is already at historical low) ?

And we're not using common sense here, just the data you asked us to look at.

Last week's cover story for The Edge. Too many people burned already from 'good' deals. My own rule of thumb is a good property will sell itself, no need to drop down price or promote self-serving articles.

https://www.theedgemarkets.com/article/cove...-under-pressure

lol I won't even bother going into that point. If kena con after so many times warned already is not my fault.

Another property player to look out for in the area is UDA Holdings (PR1MA Jubilee & Legasi Kg Bharu).

They were planning to launch Legasi Cochrane + some rumahwips a few years back but it got shelved. Land bank still there though so launch can be anytime.

What news of this project? Remembered arguing with an agent here over the crazy prices, high maintenance fees and lack of common sense for the development. Anyone ready to prove me wrong?

lol if that’s true then why is Boustead Properties still actively promoting the One Cochrane as of yesterday?

https://www.facebook.com/BousteadProperties...Q&__tn__=EEHH-R

Half a year since I checked on this project. According to brochures was supposed to be handover-ed to owners by April 2021. Passed by recently and could still see the scaffolding. Apa sudah jadi?

I guess no progress since early 2021 then. Even with COVID extension developer should have edi completed by September but I guess the parent company is too busy with electing flying car ministers to even bother lol

https://www.freemalaysiatoday.com/category/...stead-chairman/

Coming from a guy who’s not a fan of this project, I don’t think the developer will abandon it. Area is too prime and there’s the developers reputation to be uphold, since they’re linked to big names like Boustead and LTAT.

Only worrying thing for current buyers would be the low take up rate and this developers decision to stall the project in hopes that either foreign buyers will jump in or property market recovers (unlikely in short term). I myself make lots of noise against ultra high dense projects but super low dense projects like this one will also cause issues down the line..

doesn't look like any progress at all?? Pity buyers paying progressive interest..

lol I still remember got all sorts of sales agents promoting bulk purchase for this project. Justified the stupidly expensive purchase cost on 'huge' rental return of nearby projects.

All go fly kite long time ago edi while buyers have to bear progressive cost.