Five good condominiums were recently discovered around the Jalan Perak / Pinang / P. Ramlee area of Kuala Lumpur for investment purposes. It is said that all known information about a piece of real estate in reflected in the price. The price of these five properties have been quietly appreciating over the years. While the actual reasons for this phenomenal appreciation is open to debate, the fact remains that this is a good investment property. In Part 3 of this report, the identity of the third gem was revealed. If you missed it, search this website for Idaman Residence KLCC Investment Condo Jalan Law Yew Swee. Now in Part 4, the fourth gem is unveiled.
Lot 163 Residence Fraser Place
Fraser Place is a mere “stone’s throw” away from Petronas Twin Towers, Wisma Hong Leong, Marc Residence, Kirana Residence and Idaman Residence. This serviced residence was developed by the YNH Group.
Fraser Place is part of the Lot 163 mixed development which explains it’s rather long name. Lot 163 consists of a 28-storey service apartment, a 14-storey office block and retail lots with a grand total floor area of 17,722 square feet. The office block and retail lots are facing Jalan Perak, while the serviced apartments are facing Petronas Twin Towers. It was launched towards the end of 2004.
Fraser Place occupies the 9th to 29th floor. There are 217 units of studio, 1-bedroom and 2-bedroom dwellings with built-up sizes ranging from 450 square feet to 4,000 square feet. There are also 3 and 4 bedroom penthouses with sizes of up to 4,000 square feet.
Furnishings, Features & Fittings
Every unit is fully furnished with air conditioners, satellite TV channels, LCD television, digital video disc audio system, IDD phone with an individual exclusive direct line, WiFi, electronic safe, hair dryer, steam iron and ironing board, washing machine cum dryer (for the two-bedroom units only) and luxurious bathroom amenities.
Apart from these fine luxuries, its kitchen is well equipped too. The exquisite kitchen comes with an electric hot-plate, cooker hood, kitchen utensils, crockery, cutleries, a refrigerator, a microwave oven, an electric kettle, coffee maker, toaster, rice cooker and blender.
For recreation, the residents can stroll to the 18th floor where exclusive facilities such as an infinity sky pool, sun deck, gymnasium, fitness centre, sauna, steam room, and hot and cold dip pool is provided.
Name: Fraser Place (a.k.a Lot 163)
Address: Jalan Perak, 50450 Kuala Lumpur
Developer: YNH Berhad
Completion Date: December 2009
Type: Serviced Residence
No. of Blocks: 2
No. of Floors
Serviced Apartment: 28
Office Block: 14
No. of Units
Serviced Apartment: 217
Retail lot: 15
Land Area: 1.04 acre
Serviced Apartment: 450 – 4,000 sf
Serviced Apartment: RM780 – RM980 psf
Office Block: RM650 psf
Retail Lot: RM1500 – RM1,800 psf
The demographics of this Lot 163 Residence Fraser Place is a good indicator of who ones neighbors will most likely be. However, since this is a very new development, it was difficult to get adequate samples for analysis. Nevertheless, the discerning investor would certain want to know the kind of community they will be living among in Fraser Place. Their age group of the residents here will serve as an indicator of their probable marital status and the age of their children. As of 2015, the demographics are as follows:
|41-50 years=>33%||Malay=>17%||9 samples analysed|
|51-60 years=>0%||6 samples analysed|
|6 samples analysed|
Are The Rental Returns Good?
The developer’s selling price of the service apartments were in the region of RM780 – RM980 per square feet. The basis of this calculation is the developer’s selling price as this is a relatively new condo. As of May 2015 the rentals are in the region of RM5 per square feet. This will give a yearly rental return of 6.12% – 7.69%. From here one can see that based on the developer’s selling price, Fraser Place gives good rental returns.
What Is The Upside Potential For Capital Gains or Rental Appreciation?
A good indicator is to observe rental gains and capital appreciation of “comparable” condos in the vicinity of Fraser Place. Among some of the nearby condos include Idaman Residence, Marc Residence, Soho Suites and Kirana. In the process of researching these “comparable” condos, perhaps other more lucrative investment opportunities could surface…
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Happy investing 🙂