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
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