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Late Bloomer Catches Up

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Main Place Residence @ USJ 21. This project has been eager to bloom since the day ground works began. Who would have thought that it would take 16 years ago and 3 developers to realise it’s full potential. I have full respect for the investors who have hung in there and managed to finally realise their investments. I can imagine what a joy and relief it must be.

As I’ve been working with the developer (Sumbangan Lagenda) on marketing some of their units for rent and for sale. I must say I am quite impressed with the turnaround of this project and the amount of planning that went into ensuring it’s success. The structural integrity of the building has been certified to be sound even before the construction was continued. Floor 30-34 were added for units with bigger build ups and latest layouts. The exterior colours, white and chilly red is truly eye catching and the anchor tenants in the commercial units are some of my favourite. Particularly Sushi Zanmai, Daiso, McDs, Uniqlo, Nicchi & Machines.

In fact, since Main Place mall has opened it’s doors on the 25th of March, my family has already been there 3 times. It’s close enough to our place in Puchong, we enjoy the food in Sushi Zanmai (though there’s usually a queue) and our daughter loves the play are in Molly Fantasy. It is quite affordable at RM 6 (she usually plays for 40 minutes) and it leaves one parent free to do some shopping.

The Main Place Development has a gross development value of RM291 million and is built on 4.3 acres (187,308 sf) of land. Main Place Residence comprises four adjoining blocks of 25-storey service condominiums, five-storey car parks, 3½-storey retail podium and two storeys of basement car parks. There are 1211 units with built ups from 418 sf studio units to 1535sf 3 bedroom units. It’s facilities (located on the 8th floor) includes an olympic size swimming pool, gym, playground, sauna, squash court.

There still are limited developer units available. Check out my listings for sale and for rent for more information.

Is Main Place Residence suitable as an investment?

Pros

• 150 metres from the future lrt station at USJ 21 (Projected completion by 2016)
• Convenient location close to major highways NKVE, and LDP
• Freehold status
• New interiors (not much renovation needed)
• It’s convenient to have a mall at your door step especially one with good anchor tenants.
• Future mega mall (MCity mall) and office towers @ 3rd phase development of One City just across the road.

Cons

• Relatively high density with 1211 units
• Many units to compete for sale and rental.
• Only the 1200+ sq ft units come with 1 car park.
The Alternative is to purchase an extra parking lot for RM30K or rent for RM120 per month.

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