Dorchester, Sri Hartamas

Dorchester is a studio service apartment residential located in Sri Hartamas enclave and developed by infamous Mayland. The apartment is located right above Sri Hartamas Shopping Center within Plaza Damas vicinity.

Source of amenities is one of the main reasons why residents choose Dorchester, as they can get almost anything by just getting down the lift. Sri Hartamas Shopping Center caters a wide range of eateries from local cuisine to Japanese and Italian foods. Not only that, it houses fashion boutiques, health and beauty products, electronic stores, lifestyle sores and supermarket. Also, within a short driving distance, one can reach renowned Desa Sri Hartamas and chill out with friends and colleagues at plenty of bars, clubs and restaurants there. Dorchester is also considered one of the best condos in Sri Hartamas.

Being in Sri Hartamas enclave, one can either utilize Jalan Duta or Sprint highway to access the city center. It only requires about 15 minutes reaching the city center. Besides that, it is also convenient to travel to other prime areas such as Damansara Heights and Bandar Utama via Sprint highway and Penchala Link respectively. Also, one can use PLUS highway from Jalan Duta to head north region of the country.

Property Details

• Name: Dorchester
• Address: Jalan Sri Hartamas 1, 50480 Kuala Lumpur
• Developer: Mayland
• Completion Date: March 2003
• Type: Serviced Residence
• Tenure: {Tenure}
• No. of Blocks: 1
• No. of Units: 300
• Built-up: 400 – 700 sf
• Maintenance Fee: RM0.25 psf
• Launch Price: RM230 psf
• Subsale Price: {Price Range}
• Rental: {Rental Range}

Facilities

• Barbecue area
• Swimming pool
• Cafeteria
• Covered parking
• Mini market
• Salon
• 24-hour security

Analysis

Mayland is a Hong Kong based developer that well-known for its numerous developments located in Sri Hartamas vicinity. These include Menara Hartamas, Hartamas Shopping Cenre, Hartamas Superlink @ Sri Hartamas, Park View @ KLCC, Maytower and Prima Regency in Johor Bahru.

Even though Mayland is claimed to be dishonest and badly reputable for its numerous developments, there are a number of successful projects developed as well. Dorchester is one of them, as well as Menara Hartamas, Puncak Prima, and Mayfair, which are all close to each other. These properties recorded good capital appreciation as well as rental yield. It is well maintained as well, unlike its medium-end projects such as Sri Putramas I that suffer bad workmanship and material quality, and bad management.

Most Dorchester investors are smiling for the high rental gained from their investment. The demands are still good as well. An owner claimed that he received 3 calls per week to view a unit from Internet advertising. The owner rented the unit out to a Singaporean for RM2,000 (short-term), and it was later sold at RM175,000. This scenario is due to lower investment cost, as well as lower rental, being forked out by these executives, students and professionals who prefer to live alone or just a couple.

Residing in Sri Hartamas, congestion would be a big issue here. Considering 2,130 units for service apartments from Dorchester, Mayfair, Waldorf and Windsor located within the small plot, together with numerous commercial centers and Taylor’s College within the small enclave, no wonder the traffic congestion is bad during peak hours. Most motorists claimed that the traffic lights at the junction of Jalan Sri Hartamas 1 and Desa Sri Hartamas made the congestion worse.

Also, take note that units at Dorchester do not come with any designated parking space. Thus, one is required to park at the shopping center. Not a problem really, but one might find it stressful if getting back home from a lousy weekend and cannot find a parking space after wandering in the mall’s parking lot after several minutes.

Another concern is whether the demand for studio apartment will be sufficient enough to fulfill the huge number of studio apartment supplies in the area. If the demand is sufficient, can the investors gain much rental yield like they currently enjoy? Studio apartment competitions in near future include VERVE Suites, Tiffani Kiara, Solaris Dutamas and Plaza Damas 3.

Dorchester is a great investment for any of us. If you are a first timer in real estate investment, this is a good investment option for you. It requires low investment cost, and you can expect high rental yield, about 7%. Even if the market is hit by the economic recession, the rental rate should not deteriorate much.

Unlike studios in Mont Kiara, most Dorchester’s residents are local being hot-shot executives, professionals and students. It is finely located in exclusive Sri Hartamas enclave, well workmanship, on top of shopping mall, requires low investment cost, and high rental yields.