Located slightly away from the hustle and bustle of KLCC and Bukit Bintang but still within the Golden Triangle, Cochrane is a growth area just south of Kuala Lumpur.
By Khalil Adis
Mention Cochrane and the first thing that comes to mind is IKEA Cheras and MyTOWN Shopping Centre.
Previously an area dedicated for government quarters comprising mainly landed terraces and semi-D types, Cochrane, upon redevelopment is now slowly buzzing with life since the opening of Cochrane MRT station last year.
For the longest time, this part of KL has been largely ignored as a property investment destination, save for the local attractions such as the Pudu Wet Market and Flea Market.
However, all that changed when the construction of Sungai Buloh-Kajang (SBK Line) was announced in September 2010 under Budget 2011.
Costing an estimated RM23 billion with 51km of train track and 31stations developments in this part of Cheras suddenly started gaining momentum when Cochrane MRT station was confirmed.
First was the opening IKEA Cheras by the Ikano Group in November 2015 followed by the opening of MyTOWN Shopping Centre by Boustead Ikano Sdn Bhd in the first quarter of 2017.
Quality condominium developments are a rare find here with recent launches in the area being One Cochrane.
Located just next to the upcoming dedicated financial district of Tun Razak Exchange (TRX) and the recently completed vibrant entertainment enclave of TREC, Cochrane is set to become one of KL’s hottest areas as it is just a stone throw’s away from the future Bandar Malaysia project which is currently being reviewed.
We list down eight things we love about living in Cochrane.
#1: Located just next to Cochrane MRT station
One Cochrane is located just next door to Cochrane MRT station at approximately 150 metres away. With a daily ridership of 400,000 that the SBK Line is expected to generate, this will not only mean easy access for homeowners but also a ready catchment pool among investors from the potential tenants commuting within KL and Greater KL.
#2: SBK Line as a property booster
MRT Corporation Sdn Bhd, the developer and asset owner of the Mass Rapid Transit project, envisages that the SBK Line is expected to raise the overall property values in the Klang Valley by around RM300 million per annum.
As One Cochrane is located just next to the MRT station, the impact will be felt even greater as it is surrounded by other property boosters such as IKEA Cheras and MyTOWN Shopping Centre. As such, we can expect the property prices in the near future to hover at around RM1,400 per sq ft and beyond, similar to Bukit Bintang’s average per sq ft price.
#3: Direct access to IKEA Cheras and MyTOWN Shopping Centre
Speaking of IKEA Cheras and MyTOWN Shopping Centre, did you know a new underground link has been opened since last year? During our recent site visit, we were pleased to see that IKEA Cheras and MyTOWN Shopping Centre are now directly connected to Cochrane MRT station making shopping and taking the MRT a breeze. Previously, commuters had to exit from the station and then jaywalk across Jalan Cochrane just to get to them.
IKEA Cheras boasts 56 showrooms, a 780-seat restaurant and over 1,700 parking bays in two underground carparks while MyTOWN Shopping Centre is a 1.1 million sq ft lifestyle shopping haven with five floors of retail space. Some of MyTOWN Shopping Centre’s anchor tenants include Uniqlo and Parkson, ensuring there is something for everyone to enjoy.
#4: Located within the growth area in Southern KL
That’s not all. Cochrane is surrounded by various iconic projects that will further boost property prices in the area. With Tun Razak Exchange (TRX) and TREC just one stop away via the Tun Razak Exchange MRT station and Bandar Malaysia just four stops away via the upcoming Sungai Buloh-Serdang-Putrajaya (SSP Line), Cochrane is set to enjoy the spillover impact from the two MRT lines as well as the iconic TREC and Bandar Malaysia projects.
#5: Party away at TREC
Letting your hair down is now a breeze as Cochrane is located next door to TREC. TREC which stands for “Taste, Relish, Experience, Celebrate” feature a variety of different styles, atmospheres and moods in five separate zones offering casual and fine dining, quirky and independent cafes, wine bars, pubs, lounges and clubs, including Zouk KL, Velvet Underground and Phuture. Costing RM323.6 million to develop, TREC is expected to create over 1,500 jobs and estimated to add RM143 million to the local economy annually.
#6: Next door to the financial district of Tun Razak Exchange (TRX)
TRX will be a mixed-use development comprising a Grade A office space as well as residential and commercial precincts. To be developed in several phases over a period of 15 years, the first phase will comprise four investment grade A office towers, a lifestyle retail mall, two 5-star hotels and up to six luxurious residential towers with a target completion date by 2019.
When fully completed by 2027, TRX is expected to raise the country’s Gross National Income per capita to USD15,000 and investments of US$444 billion by 2020. Some 500,000 jobs will be created directly and indirectly once TRX is completed. In addition, Tun Razak Exchange MRT station will serve some 3.3 million workers providing further potential quality tenants for investors.
#7: Hop on to the High Speed Rail nearby
Bandar Malaysia will serve as the terminus station for the Kuala Lumpur-Singapore High Speed Rail (KL-Singapore HSR) project linking both cities in 90 minutes flat. The development for the project has been postponed to two years and will now commence construction in 2020 instead of 2018. Meanwhile, the express service will only commence by 1 January 2031 instead of 31 December 2026, as originally planned.
#8: Next door to the Digital Free Trade Zone (DFTZ)
Bandar Malaysia has been designated as a site for the Digital Free Trade Zone (DFTZ) initiative by Jack Ma. Home to the Satellite Services Hub, DFTZ is expected to create some 60,000 direct and indirect jobs. It will also possibly serve as the interchange to the MRT Line 3, which has now been postponed.
Last but not least: Two stops away to the shopping belt of Bukit Bintang
With the completion of the SBK Line, you no longer have to endure the traffic congestions along Jalan Bukit Bintang. All you have to do is hop onto the MRT where you can enjoy some of the best things that life has to offer at Pavilion KL, Lot 10, Fahrenheit and Starhill Gallery just two stops away at Bukit Bintang MRT station. From shopping for luxury timepieces to enjoying street food at Jalan Alor, those dreaded traffic jams are now over. So #jomnaikMRT!
Investment talk by Khalil Adis
Date: 29 September 2018
Time: 11 am
Venue: One Cochrane Sales Gallery, Jalan Cochrane, Lot 1246, 55100 Kuala Lumpur, Malaysia
*First 10 to RSVP will receive a copy of Khalil Adis's best-selling book 'Property Buying for Gen Y
With the dust from the 14th Malaysian general election now settled, the newly minted Pakatan Harapan government has renewed investors’ confidence and sparked hope in the otherwise lull property market. We list down six reasons why KLCC is now attractive to foreign investors.
By Khalil Adis
Walk around Kuala Lumpur and you cannot help but feel a renewed sense of hope in the air among Malaysians post the 14th Malaysian general election. In fact, Malaysians appear to be smiling more than usual that even the notorious KL traffic has failed to put a dampener on their faces.
Call it a new Malaysia, if you will. However, this is indeed a watershed moment which saw a newly minted Pakatan Harapan government taking power and effectively putting an end to 61 years of uninterrupted rule under UMNO. With the promise to weed out corruption, the return of the rule of law by the Mahathir administration has ignited business confidence and renewed interest in the property market.
One area which has always been a perennial favourite among foreign investors is KLCC. Home to the iconic Petronas Twin Towers, it was Prime Minister Tun Mahathir Mohamad who had the foresight to build it that has led to Kuala Lumpur being known all over the world. As if signalling a new dawn for Malaysia, KLCC’s skyline is set to welcome a new iconic landmark come 2023. Here are our findings why properties in KLCC are now ripe for picking.
#1: A new iconic landmark
Oxley Towers Kuala Lumpur City Centre is a freehold mixed-use development that is located within walking distance to the the Petronas Twin Tower and Kuala Lumpur Convention Centre. Comprising an office tower, Jumeirah Kuala Lumpur Hotel with residences, SO/ Sofitel Kuala Lumpur Hotel with residences, and a retail podium, Oxley Towers Kuala Lumpur City Centre is set to be the next iconic skyline in KLCC with its sleek, ultra-modern architecture. At our recent site visit, construction work has already started and is making good progress with an expected completion date in 2023.
#2: Reputable Singaporean developer with a strong track record
When buying a property in Malaysia, the track record of a developer is of utmost importance. Oxley Towers Kuala Lumpur City Centre is being built by Oxley Holdings Limited. This home-grown Singaporean property developer has a wide and diverse property portfolio comprising development and investment projects in Singapore, the United Kingdom, Ireland, Cyprus, Cambodia, Malaysia, Indonesia, China, Myanmar, Australia, Japan and Vietnam. Some of its notable developments in Singapore include Oxley Tower, Oxley Bizhub and Oxley Edge.
The EdgeProp cites Oxley Holdings as having S$2 billion worth of land last year including en bloc site. This makes it one of the biggest landbanks held by a property developer in Singapore. Despite the recent cooling measures, Oxley Holdings is going ahead to launch at breakneck speed this year with a total of 3,000 units already launched during the first six months of the year. And another 900 units underway.
Not only is Oxley Holdings rich in landbanks, it is also financially strong. For 2018, so far, Oxley Holdings has sold a total of 948 units and delivered $1 billion in residential sales in Singapore.
#3: First SO/ Sofitel residence in the world
If you like fashion and enjoy the buzz of city life, then you are in for a real treat. The SO/ Sofitel hotel and brand is a playful mix of sophistication and the dynamic style of each locale. Highly creative and fashion-led, the SO/ Sofitel residences in KL will reflect the rich, multi-cultural tapestry that Kuala Lumpur is known for. The SO/ Sofitel tower is set to offer 210 hotel rooms and 590 residences. Designed for those who break the rules and are ahead of the curve, this is the place to see and be seen. To ensure your ultimate privacy, the hotel and residences lobbies will be separated. Did we also mention that SO/ Sofitel Kuala Lumpur Residences will feature the highest residential swimming pool in Malaysia overlooking KLCC?
#4: Get more bang on your bucks in a branded residence
The difference between staying in a branded versus a non-branded residence is as different as day and night. In keeping with its lifestyle luxury and playful theme, investors can expect only the best while living life at the top. Staying at SO/ Sofitel Kuala Lumpur Residences will mean access to a plethora of luxury services and some of the most happening parties the city has to offer.
For starters, residents will enjoy 24-hour residence concierge, bell/valet services and the Mixo Resident’s Lounge. This is where you can let your hair down with its resident DJ or take those #OOTD Instagram-worthy shots with complimentary Wifi access overlooking the famed twin towers as you sip a cocktail or two from its Resident Mixologist. It’s not all about partying though. SO/ Sofitel Kuala Lumpur Residences will also offer fitness enthusiast access to its SoFIT residence fitness centre, including personal attendant, towel service and water. To ensure you stay ahead of the curve, residents also get a press reader subscription with digital access to 2,000 plus daily newspapers and magazines. AccorHotels offers an Industry Leading Ownership Benefits Program, including top-tier status in Le Club AccorHotels Loyalty program.
#5: Good tenant pool
Buying a unit at SO/ Sofitel Kuala Lumpur is not just about all play. This is the address for those who have arrived that is within walking distance to Pavilion Bukit Bintang, Suria KLCC, KLCC Park and The Petronas Twin Towers, just to name a few. Shopping, entertainment and dining options are also aplenty ranging from the award-winning Nobu’s to your local mamak coffeeshops. For investors, this is where you can have access to some of the most sophisticated tenants at your feet. There are a high number of industries here ranging from government offices and embassies at the nearby Embassy Row to the petrochemical and MICE industries within KLCC. Take your pick.
#6: Enhanced connectivity via KLCC East MRT station
Located approximately just 200 metres away, KLCC East MRT station is part of the RM32.5 billion Sungei Buloh-Serdang-Putrajaya (SSP Line) MRT project that was announced under Budget 2015. Measuring some 52.2km spanning from Sungai Buloh to Putrajaya MRT station, the SSP Line comprises 24 elevated and 11 underground stations (including KLCC East) When completed in 2022, the SSP Line is expected to generate a daily ridership of 529,000 while enhancing property values within its immediate vicinity.
Investment talk by Khalil Adis
Join Khalil Adis this weekend to find out what is in store in the Malaysian property market post GE-14.
Date: 18 & 19 August 2018
Venue: Oxley Gallery, 30 Stevens Road #02-01
*First 10 to RSVP on each day (10 copies on Saturday, 10 copies on Sunday) will each receive a copy of Khalil Adis's best-selling book 'Property Buying for Gen Y
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