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Amcorp Mall Suites
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Sau



Joined: 13 May 2005
Posts: 13
Location: PJ

PostPosted: Wed Jul 20, 2005 6:10 pm    Post subject: Amcorp Mall Suites Reply with quote

Hi there, have any of you guys heard about the apartment suites on top of Amcorp Mall? Any comments on this property? Is it a good for investment purposes?
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my44



Joined: 03 May 2005
Posts: 430

PostPosted: Thu Jul 21, 2005 11:22 am    Post subject: Reply with quote

The project was launched long time ago. Still not selling 100% eh? The property is completed, and I think it's free hold, and comes under commercial property status.
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Sau



Joined: 13 May 2005
Posts: 13
Location: PJ

PostPosted: Thu Jul 21, 2005 3:27 pm    Post subject: Reply with quote

Yea its completed, but its leasehold. The rental yield seem to be good. Just having some doubts since its under commercial property status and such.
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mizzou



Joined: 02 Aug 2005
Posts: 58

PostPosted: Tue Aug 09, 2005 2:27 pm    Post subject: Reply with quote

Pros:- Smile
- Good location
- Nice view
- Nearby Putra sta
- Close to shops & amenities
- Easy access to KL city & places in PJ
- Not too bad rental yield (RM 800-1000 for ~450sf studio)

Cons:- Sad
- Was an abandoned project
- Narrow access
- Spiral access to car park
- Lobby not impresive
- Poor bldg maintenance
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CuriousSara



Joined: 31 Jul 2005
Posts: 14
Location: Petaling Jaya

PostPosted: Tue Feb 21, 2006 8:03 am    Post subject: Reply with quote

I've a friend who's interested in the Amcorp service suites and hope someone can answer her questions:

1. Amcorp Mall is surrounded by three towers (two on the left and one on the right, if you are looking from the Taman Jaya LRT station) with a flat-shaped building behind it. Which of these buildings houses the Amcorp serviced suites?

2. How much are the maintenance fee and sinking fund charges?

3. There are several TNB transmission towers and a substation nearby. Would you say it's close enough to raise health concerns?
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rck



Joined: 16 Oct 2005
Posts: 24

PostPosted: Mon Apr 10, 2006 2:38 am    Post subject: Reply with quote

I have been looking at Amcorp residence suites for investment purposes. 488sf @190K. Rental range 1.3-1.5k. Are they worth looking at? Can it easily rented out? Wondering what is the occupancy rate at the moment?
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saywho???



Joined: 24 Jan 2006
Posts: 9
Location: bkt jalil

PostPosted: Tue Apr 11, 2006 11:28 am    Post subject: Reply with quote

Amcorp Suite, rental is in waiting lists. Full hse occupancy i notice. Some even fetch RM2300/m for f/furnished. Even the Business Suite is getting fantastic return. eg. 800sf partial furnished can get RM 3000/m almost 13.5% investment return for owner. Amcorp is getting tis cos of central location n PJ landmark status.
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eyegel



Joined: 06 Jun 2005
Posts: 79
Location: Petaling Jaya

PostPosted: Tue Apr 11, 2006 2:25 pm    Post subject: Totally agree Reply with quote

Totally agree!!!! Very good location!
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Tue Apr 11, 2006 2:31 pm    Post subject: Reply with quote

wah so good meh.. and i told my relatives to stay away :p
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rck



Joined: 16 Oct 2005
Posts: 24

PostPosted: Tue Apr 11, 2006 11:43 pm    Post subject: Reply with quote

eh Banzai..why stay away? Tell la..

saywho, eyegel..can u verify the waiting list? I heard only 60% taken up..maybe the rest is owner stay and not moved in yet ha.
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Wed Apr 12, 2006 12:20 am    Post subject: Reply with quote

rck wrote:
eh Banzai..why stay away? Tell la..

saywho, eyegel..can u verify the waiting list? I heard only 60% taken up..maybe the rest is owner stay and not moved in yet ha.


I think i sounded skeptical.. but ofcourse, i'm always open to success stories..

Reasons why i don't like it:
- commercial title
- too mediocre.. ..
- don't know who the developer is
- probably little track record for maintenance
- right in front of high tension cables, LRT + Fed highway (good and bad i guess, i wouldn't want to stay long in a property next to all these)
- probably little upside appreciation

Time will tell if i am correct.
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aquest



Joined: 12 Jul 2004
Posts: 120

PostPosted: Wed Apr 12, 2006 2:23 am    Post subject: Reply with quote

Considering that the smallest unit could be gotten for approx rm110k from the developer a couple of years ago, the first purchaser has in fact enjoyed an appreciation of >70% if it's market value is prudently taken at just rm190k. Mind u, those similar sized units facing the KL/tmn jaya view can fetch much more, with some already changing hands at rm235k. Yes, almost approaching a quarter million bucks..it doesn't worry the investor even if no car park bay is included.

Any1 who intends to purchase now may not enjoy much capital appreciation bcoz it has already reached the point of diminishing returns (capital appreciation). Some observers say that the presence of the nearby upcoming 39-storey pj8 service suites do not pose any serious threat to amcorp suites. There are also those who are reaping high transient income from amcorp suites have also booked units in pj8 developed by the more reputable IJM.

But why amcorp suites (with 80+ years remaining lease) when u can get a 1 b/r unit b/u 560 sq ft with 1 car park bay (worth rm25k) from rm199,800 up @ pj8 (with near/full 99-year lease) which is adjacent to the 2 nearby hotels. Sorry..I was informed that all of this type with b/u 560 sq ft have been taken up during 'makan tempura day' except for the 6 units from 30th floor and above where IJM have blocked it from releasing to the public. Some say those units from 30th to 39th floors are not open for sale to public bcoz IJM are in discussion with an undisclosed hotel.

..oledi toking too much..dun wanna sound like a SA..
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Wed Apr 12, 2006 9:20 am    Post subject: Reply with quote

aquest wrote:
Considering that the smallest unit could be gotten for approx rm110k from the developer a couple of years ago, the first purchaser has in fact enjoyed an appreciation of >70% if it's market value is prudently taken at just rm190k. Mind u, those similar sized units facing the KL/tmn jaya view can fetch much more, with some already changing hands at rm235k. Yes, almost approaching a quarter million bucks..it doesn't worry the investor even if no car park bay is included.


Maybe some investors are not worried that no car park is included. Of course, I think some investors are just plain not aware of what they are buying. Like some of my relatives. They are not aware that this development is a commercial development. My relatives are slightly older and are not very meticulous in their research or a bit blur. I think the population in general can be as well.. explains why Talam / Mayland was still able to sell units out there in the open market.

aquest wrote:
Any1 who intends to purchase now may not enjoy much capital appreciation bcoz it has already reached the point of diminishing returns (capital appreciation). Some observers say that the presence of the nearby upcoming 39-storey pj8 service suites do not pose any serious threat to amcorp suites. There are also those who are reaping high transient income from amcorp suites have also booked units in pj8 developed by the more reputable IJM.


I'm curious to see how high this can be.. this is for a regular tenancy period i.e. 2 years? It will really surprise me that someone will want to stay at a place like Amcorp mall for
-2 years
-paying $3k.
The only people i can think of that will want to rent at this place will be the Accenture people who want to house their guests next door so that they can suck the maximum benefit out of them.

Do u personally own a unit there or is this all hear say?

aquest wrote:

..oledi toking too much..dun wanna sound like a SA..


Are you? I don't mind if you are.. as long as you have good jalan/lobang for making $$$
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rck



Joined: 16 Oct 2005
Posts: 24

PostPosted: Wed Apr 12, 2006 10:34 am    Post subject: Reply with quote

yeah Amcorp will have a new neighbour in pj8 soon. The capital appreciation in Amcorp will be a big factor in this decision, ie if you can get a much lower purchase price, and the figures add up, then its worth it. There's a price in everything, agree? Very Happy
Tenants won't be there for too long either. I see new yearly tenants coming in and out. I also hear a lot of stewardess staying there. Convenient for them and some expats who work in the office towers.
Will wait a while and see if anyone migrating....
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patrick_the_pup



Joined: 19 Jul 2005
Posts: 260

PostPosted: Wed Apr 12, 2006 5:31 pm    Post subject: Reply with quote

Accenture still in Amcorp meh Question I tot they moved to KLCC Question
I work in Amcorp too but I dont see those legendary famous Accenture hunnie bunnies walking around le Smile

But then, dont touch amcorp stuffs la...look @ the maintenance of the buildings in amcorp, terrible maintenance, absolutely terrible and expensive sahmore
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Last edited by patrick_the_pup on Sat Feb 05, 2011 6:12 am; edited 1 time in total
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aquest



Joined: 12 Jul 2004
Posts: 120

PostPosted: Wed Apr 12, 2006 7:27 pm    Post subject: Reply with quote

banzai, i dun own any amcorp suite but just to share some info how some investors could visualise and capitalise on an abandoned building (destined for a hotel) and reaping heftyly both capital appreciation and transcient income at the same time. in fact, all the while i've been a non-believer in strata-titled properties especially those with commercial status like service apts/suites..but my opinion changed when i met some amcorp suite owners smiling their way to the bank and now i'm into pj8 myself.

i think the scarcity of hotel rooms in the vicinity and high number of long term staying corporate guests have got to do with the sought-after factor for amcorp suites.

[/quote]
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Seen



Joined: 25 Feb 2007
Posts: 3

PostPosted: Mon Feb 26, 2007 9:43 am    Post subject: Reply with quote

Hi,

I am interested in purchasing a residential unit in Amcorp. Anyone who has a unit for SALE please contact me via my email at seenees@gmail.com
Thanks!
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ysmn



Joined: 19 Sep 2006
Posts: 3486
Location: Where Opportunity meets Ability

PostPosted: Fri Mar 02, 2007 1:00 pm    Post subject: Reply with quote

Hi Aquest, you are quite right.
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ysmn



Joined: 19 Sep 2006
Posts: 3486
Location: Where Opportunity meets Ability

PostPosted: Sat Jul 14, 2007 9:32 pm    Post subject: New development next to Amcorp Reply with quote

Last week I noticed the triangular lot west of Amcorp being cleared. From google earth it appears larger than the entire Amcorp Trade Centre lot. This is between car park and Federal Highway. Anyone knows what's coming up there?
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ysmn



Joined: 19 Sep 2006
Posts: 3486
Location: Where Opportunity meets Ability

PostPosted: Fri Dec 07, 2007 11:58 am    Post subject: Reply with quote

Pleased to update that the rent for my unit is now 2600 a month and basement excavation for pjx has been completed.
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shouldwebuy



Joined: 19 Aug 2007
Posts: 61

PostPosted: Fri Dec 07, 2007 5:06 pm    Post subject: Reply with quote

hi ysmn, may i know which floor and what type of unit is yours to fetch 2.6k rental? Wonder if it is true that the rental around that area going up?
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ysmn



Joined: 19 Sep 2006
Posts: 3486
Location: Where Opportunity meets Ability

PostPosted: Fri Dec 07, 2007 5:53 pm    Post subject: Reply with quote

17th floor, pj view, fully furnished 4* hotel standard, 488sa ft studio. Corporate Client. Nearly all tenants are expats. It is worthwhile to spend the money to furnish to adequate standard. They upgraded the facilities floor in June July and most tenants love it. Only grouse is no place to chill out at night. A small lounge/cafe/internet kiosk for tenants open 24hrs is what's lacking now. I cannot see myself living there though, but it is paying for my 3 kids' education, and we do use the place between tenancies. The last time it was vacant was for a 3 week period in November 2006. I rent out on monthly basis with upfront payment, giving 2.5% discount for each additional month. So if 1 month 2,600, n months =2600 x (1-0.025x(n-1)). It is a cheaper alternative for corporate tenants whose usual accomodation would be a hotel. So far this year, I have not been able to visit my unit until just last week, when my last tenant was reassigned to a new posting in Europe. Current hotel rates are continuing to trend up and I do believe I can get RM3k+ by 2nd quarter next year. I am just a little smart, but mostly just plain lucky, so not sure if can repeat the same success with another project. Time will tell. Guess I have more than answered your question. Please forgive me if it is too long.
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shouldwebuy



Joined: 19 Aug 2007
Posts: 61

PostPosted: Fri Dec 07, 2007 6:48 pm    Post subject: Reply with quote

Thansk ysmn.. i love your reply. Full of information.
May I know how much you have spent in furnishing it to hotel standard?
Wonder after the succesful experience in the investment, did you buy PJ8 then ?
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ysmn



Joined: 19 Sep 2006
Posts: 3486
Location: Where Opportunity meets Ability

PostPosted: Fri Dec 07, 2007 8:18 pm    Post subject: Reply with quote

Less than 10k plus diy labour. Did not buy pj8 as i don't like it.
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shouldwebuy



Joined: 19 Aug 2007
Posts: 61

PostPosted: Sat Dec 08, 2007 12:40 am    Post subject: Reply with quote

ysmn.. thanks again for the info.
Wow... 10k enough meh? Sorry.. I am totally no idea about furnishing a house. Sigh.. Now still looking on what to invest... a bit worry the property cycle may have reaching peak.
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