Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

> TRION KUALA LUMPUR, JALAN SUNGAI BESI, Triple Towers: The Dazzling Urban Centre Investment

views
     
zcalex
post May 19 2019, 01:32 PM

Getting Started
**
Junior Member
69 posts

Joined: Apr 2019


QUOTE(AskarPerang @ May 9 2019, 11:16 PM)
Source taken from cliffekent

TRION @ KL

Developer:  Binastra
- same developer as Sinaran @ Wangsa Maju which is a decently priced low density project that is walking distance to LRT)
- Citizen and Citizen 2 are also done by them (no delays in construction)
- Previously a contractor turned developer, good track record
Land area: 4.075-acre
Tenure: Freehold
Change of zoning: Industrial to Commercial (the reason for the delay in launching as this project was already planned since 2016)
Unit sizes : 650sf - 1000sf
Indicative price : $660psf

Note:
Land purchased from Renown Heritage Sdn Bhd (50% owned by E&O Group and Wearne Brothers) for RM96 mil ($541psf)

Proposed Development
Block A : 66-storey-536 units
Block B : 66-storey-592 units
Block C : 40-storey-216 units serviced apartment; 235 hotel rooms, 3 level office space for Binastra Land
7-storey car park podium
2-storey retail (20 units)

The block C hotel will be managed by AccorHotels Group under Mercure brand.

COMPETITOR
🔹One Residences (684 units leasehold in 3.34 acre) in Jalan Satu with 35 storeys - $700psf (leasehold)
🔹Damai Residences (443 units leasehold) - $650psf
🔹Razak City Residences (5748 units leasehold) - $450psf
🔹Sri Mutiara apartment (Rental : $1000-2000) -$200-410k

CONCLUSION
Trion will be next to Southgate Commercial centre. It will be Binastra’s biggest project to date and will house its future headquarters.
This is reminiscent to Exsim having its HQ in Millerz at Old Klang Road.
Binastra comes from a construction company, thus the build quality is pretty good. Both their previous projects have good quality workmanship.

As for the walking distance part which is a contention for some people on LYN, I think it is certainly not walkable to MRT 2 Chan Sow Lin. MRT Chan Sow Lin is too far and it is not that walkable in my opinion.
Yes there is a free shuttle bus service for 2 years.
However, if you can buy something that is walking distance to MRT at $500psf and below, wouldn’t a development that is not walkable to MRT at $700psf seem to be too expensive?

At $680psf and it is freehold comparing to One Residence, Razak City and Damai Residence which are all leasehold products. This is a plus point for Trion.

However, this neighbourhood have generally narrow roads and the industrial image does not help at all. And comparing to Cochrane which has TRX, Sungai Besi does not have anymore traction as Bandar Malaysia project is put on hold indefinitely for now.

Which comes to the question of rental yield and capital appreciation.
Will this area be able to fetch breakeven rental considering that Bandar Malaysia is not in the picture anymore? I personally do not think so.
There are no high income jobs coming into this area as compared to TRX.

As for capital appreciation, in view that there are no influx of high income jobs or MNCs into the area, it is hard to see how 680psf will rise to 800-900psf in the next 5 years. Maybe in the future when this industrial area is turn into something else or when Bandar Malaysia do materialises. Maybe.

Comparing to Netizen and Parkland which are both walking distance to MRT and selling at less than 500psf, this seems a bit too expensive in my opinion even though I have to admit, the facilities do look awesome and the view might contain all the 3 iconic towers in KL.

But will I buy at $680psf?
I certainly think there are better projects in Klang Valley today if I were to pay for so much money.

Credit to: https://www.facebook.com/drvictorgan/
*
this is not walkable to LRT CSL, SA claim that there is free shuttle bus (not just for the first 2 years?)
i liked their layout, very much toward investor driven project.
as for the CA or rental, i foresee the competition most likely come from internal owners.
those not so strong profile of investors, Be prepare to hold it for a period of time.


zcalex
post May 29 2019, 09:24 AM

Getting Started
**
Junior Member
69 posts

Joined: Apr 2019


QUOTE(DesRed @ May 29 2019, 08:29 AM)
Even so, I still come across many horror stories regarding tenanted units. Some owners are lucky to have good tenants, but there are others who ended up with crap tenants.

Why does this issue still persist even when these owners get the help of SAs to filter out the tenants?
Not too sure on that, but according to the friend, the guy was supposed to be renting for a year.
*
its because owner very desperate to rent out their unit as soon as possible, no time to filter & bargain who are the good or bad tenants, as long as rental come in.
the longer the delay, owners have to folk out monthly installment with unit still vacant.


 

Change to:
| Lo-Fi Version
0.0406sec    0.76    7 queries    GZIP Disabled
Time is now: 29th March 2024 - 02:03 PM