Avenue Crest, Shah Alam

Avenue Crest is a high-rise building located at Batu Tiga. It is the successor to 3 Two Square by Crest Builder. It comprises only studio units which can used as office suites and serviced apartment. Crest Builder was founded by Yong Soon Chow in 1983 and since its establishment, the Crest Builder Group have achieved various milestones and achievements. Similar developments within close proximity includes i-City, Alami, and Puteri Business Avenue.

Sitting on a 2.02 acre freehold site, the 24-storeys Avenue Crest comprises approximately 325,000 square feet of built-up space that houses over 495 units of SOFO (Small Office Flexible Office). The units have built-up sizes ranging from 527sf to 883sf and includes 2-storey retails. The entire development will be completed around the 4th Quarter of 2013.

Avenue Crest is strategically located between the border of Subang Jaya & Shah Alam (minutes away from USJ). Multitudes of amenities are within the vicinity; major colleges, universities, hypermarkets, medical centers, golf and country clubs, recreation parks and more. Public transport by train would not be a problem s Batu Tiga KTM Station is situated no more than 1.5 km away from Avenue Crest. Residents and commuters are able to enjoy quick access to KLIA, multitudes of surrounding amenities, commercial and industrial supports. Avenue Crest is also considered one of the best luxury condos in Shah Alam.

Avenue Crest offers tenants a wider choice to the target market in terms of accommodating business to the outlet sizes, adjoining units is possible by breaking down the 3 meters width wall in order to obtain bigger unit spaces. The main selling point of Avenue Crest is that it is a well-integrated freehold commercial development comprising of medium-sized boutique studio units, designed to be user-friendly with modern technology and a round-the-clock security system. It boasts strategic positioning, easy accessibility to multiple major highways such as Federal Highway, Hicom – Puchong Highway, and Elite Expressway.

Property Details

• Name: Avenue Crest
• Address: Section 22, Batu Tiga, Shah Alam, Selangor
• Developer: CB Land Sdn Bhd
• Completion Date: Jan 2014
• Type: Commercial
• Tenure: {Tenure}
• No. of Blocks: 1
• No. of Storey:
• Retail: 2
• Office Suite: 15
• Car Park: 7
• No. of Units
• Retail: 6
• Office Suite: 495
• Land Area: 2.02 acres
• Built-up: 527 – 883 sf
• Maintenance Fee: RM0.30 psf
• Launch Price: RM400 psf
• Subsale Price: RM250,000 – RM450,000

Facilities

• 24-hour security
• Retail lots

Analysis

Shah Alam constitutes a positive upward trend in terms of population growth. Currently there are 2.6 million people living in Petaling Jaya, Subang Jaya and Klang as of 2012. That equates to about 130% population growth rate over the last 10 years. 21% of Selangor population resides in Shah Alam with immediate catchment area of 870,000 people. This provides smaller business an opportunity upgrade and expose their image at an affordable price.

The developer obtained the ISO 9001:2000 Quality Management System Certificates in 2002; successfully listed on the Main Board of Bursa Malaysia in 2003; won the Malaysian Construction Industry Excellence Awards in 2006; won the DOSH 100% Accident Free Award in 2007 and most recently, the WORLD Quality Commitment Gold International Gold Star Award. Today, Crest Builder has diversified from its core construction business into other businesses.

Among the completed construction projects by the developer were The Residence in TTDI, The Meritz along Jalan Ampang, Kiara 1888 in Mont Kiara, Gateway Kiaramas in Mont Kiara, Verticas Residence in Ceylon Hills, The Twins in Damansara Heights as well as Northshore Gardens at Desa Park City and etc. Their maiden development project is 3 Two Square in Section 19 Petaling Jaya.

Avenue Crest being priced at about RM 400 psf, can easily be considered one of the most affordable new freehold property around the area. Rental return could conservatively reach RM 2.50 psf in relation to limited high-rise offices available in Shah Alam, which are being rented at above RM 3.00 psf. As such, owners of Avenue Crest could easily enjoy at least 8% return on investment.