Star Avenue@D’Sara shop offices sold out, registered sales of RM242.5m
Apr 27, 2011
Mah Sing Group Berhad’s Phase1&2 of Star Avenue@D’Sara in Sungai Buloh have been fully sold during its launch, with registered sales of RM242.5mil.
Phase 1 & 2 comprise of 92 units of 3-storey shop offices averagely priced from RM2.6mil.
The launch, held over the weekend, attracted more than 800 prospective buyers.
Mah Sing’s chief operating officer Andy Chua said, “We have been quite confident that Star Avenue@D’Sara shops would be well received based on its strong potential and exceptional value but a 100% take up rate on the first sales launch event weekend has exceeded our expectations and was a pleasant surprise.”
In view of the overwhelming response to the development, the group is now opening 46 units of the Avenue Street Mall retail lots for registration.
The Avenue Street Mall offers 370,000 sq ft of nett lettable area spread over 4 levels and Mah Sing Group intends to keep approximately 60% to ensure the right tenancy mix to maximize the rental yields and increase capital appreciation.
The proposed tenancy mix includes F&B outlets, a supermarket, IT and tele-communications center, bowling alley, fashion and accessories stores, etc.
With an estimated catchment of 360,000 people within a 15 minutes drive and excellent visibility with more than 300,000 passing traffic daily, and the lack of a competing mall nearby, Star Avenue@D’Sara is poised to be a shopping hotspot.
The project is only 3 minutes from the proposed MRT Station in Taman Industri Sg. Buloh and strategically located at the busy traffic junction of Jalan Sungai Buloh (Guthrie Corridor), Persiaran Cakerawala and Jalan Lapangan Terbang Subang.
“As connectivity is becoming more and more of a factor that appeals to the market, Star Avenue@D’Sara’s strategic location as well its superb accessibility and large population catchment that includes Subang, Subang Bestari, Sungai Buloh, Ara Damansara, Kota Damansara, Mutiara Damansara would serve the business community well,” said Chua.
Star Avenue@D’Sara shall be able to tap on the 13,000 students at the proposed new Help University Collegue-Subang 2 Campus, via Persiaran Cakerawala which is currently being upgraded into a 6 lane road.
“This project is also adjacent to the much talk about 3,300-acre Rubber Research Institute of Malaysia (RRIM) privatization land to be developed by EPF. Buyers are obviously optimistic of the RRIM land potential,” added Chua.
