Setia Walk in Puchong is
SP Setia’s first showcase project to mark the company’s entry into the
commercial retail sector. It is positioned as a revolutionary and refreshing
one-stop boutique lifestyle and retail centre to appeal to trend-conscious
clientele.
This is a mixed development consisting
of retail blocks, offices, an entertainment complex, and serviced apartments.
In essence, this commercial precinct is a hybrid between a shopping mall and
shop offices. At the time of launch, this idea was a novelty in the local market.
It is spread across 20.8 acres of land in Pusat
Bandar Puchong, and consists of several phases. Phase 1 is 85 blocks
of 4, 6, and 7-storey shop offices. Altogether, there will be 170 retail units
and 336 office units.
The business hotel and entertainment
complex at Setia Walk will be the anchors of this development. The
entertainment complex will have 300,000 sf that is leasable and will include
karaoke lounges (Superstar Karaoke), fitness centre (Celebrity Fitness), and a
cinema. Among some tenants that have started operation as of March 2012 are
Kenny Rogers Roasters, Sushi Tei, The Beer Factory, Muzeum Pub and Bistro, and
Roommates Bar. Other tenants which will operate here are BMS Organics,
Be LOHAS Cuisine, Bata, Starbucks, Killineys Kopitiam, among others.
Set on higher ground, the serviced
apartments at Setia Walk (Solace, Brio and Vio) are at the rear of the
development and overlook the commercial area. There are 3 blocks towering at 27
storeys that consisted of 759 apartment units. These units are priced from
RM210,000. There are also 46 SOHO (small office home office) units
here.
The commercial precinct will also have
24 hour security, 2 level basement parking, pedestrian only walkways, elevators
and escalators. Lush landscapes will link the activity areas, and soothing
waterways will form the central spine of Setia Walk. These water features
include a wading pool, water jets, fountains, water column, cascading
waterfall, and sand dunes. Modern sculptures will also be present.
The condo layouts are 845 sf, 1007 sf,
1096 sf and 1396 sf. The smallest unit sizes are 1 + 1 rooms, while the largest
unit designs have 3 rooms. As a result, these units will suit residents of all
kinds – whether it is a small family, young working professionals, or the
‘mobile’ generation who just need a place to crash as they stay out all the
time. All units have car parking bays (between 1 – 3). The latest and last
addition to Setia Walk is Trigon Luxury Serviced Apartments @ Setia Walk.
Trigon will have 28 storeys and selling prices are from RM600++ psf.
There are 3 main zones in the
commercial retail section of Setia Walk. These are the active zone, sanctuary
zone, and escape zone. The active zone is children-centric, and is good for
play zones, child development centres, and children-related products such as
toys. The sanctuary zone is for fine dining, spa, and beauty centres. The
escape zone is a more casual area, with alfresco dining, bistros, and cafes
planned here. The main access route to Setia Walk is the LDP.
Property
Details
o
Name:
Setia Walk
o
Address:
Persiaran Wawasan, Pusat Bandar Puchong, Selangor
o
Developer:
SP Setia
o
Completion
Date: 2012 – 2014 (for the serviced apartments)
o
Type:
Mixed Commercial
o
Tenure:
Freehold
o
No.
of Storey
o
Shop-Office:
4, 6, and 7
o
Apartment:
27
o
No.
of Units
o
Shop-Office:
85
o
Serviced
Apartment: 946
o
Land
Area: 20.9 acres
o
Built-up
o
Serviced
Apartment: 845 – 1,387 sf
o
SOHO:
1,500 sf
o
Launch
Price
o
Shop-Office:
RM2,500,000 – RM8,900,000
o
Apartment:
RM210,000 – RM1,455,384
o
Serviced
Apartments: RM291,800 – RM1,020,000
o
SOHO:
RM563,350 – RM967,860
o
Subsale
Price: RM400,000 - RM1,200,000
o
Rental:
RM1,200 - RM4,000
Facilities
o
Landscaping
o
Water
features
o
Wading
pool
o
4,300
car parking bays
Analysis
Setia Walk is situated in Pusat
Bandar Puchong, which is within a matured and established township
with a population catchment over 250,000. Although Setia Walk is not really a
novelty these days, considering other similar style developments such as Mid
Valley – The Gardens area, Empire Subang, and so on, it is a new thing for the
popular area of Puchong. If you are keen to invest in Setia Walk, the
commercial section would certainly be an excellent investment. The offices and
retail outlet section of Setia Walk should find excellent tenants such as
clinics or consultancy firms, instead of garages and other lower grades of
tenants.
The original launch price for the shop
offices at Setia Walk are between RM2.5 million to RM8.9 million per block. It
was estimated that the rental of these shop offices to be RM15 – RM16 psf,
while the entertainment complex area will be RM8 psf. It is foreseen that savvy
investors would earn annual rental yields of 10%. The units on the ground and
1st floors will operate as retail outlets, while offices will occupy the upper
floors. These shop office blocks are carefully designed to either face the LDP or
the internal waterways to provide prime frontage and high visibility for
businesses.
The condominium and serviced apartments
suit all different types of clientele, ranging from singles to small families.
It is convenient as people can walk to work, shop, or eat and drink without
having to face the chaos of work. Other than this, the site is set opposite the
proposed Ampang Line LRT station ST07. As a result, this complex
looks promising – for both investors and would-be residents and tenants of the
commercial and residential areas. When the proposed Puchong LRT link
does arrive opposite the road of Setia Walk, the prices should definitely rise
for both the residential and commercial components. As a result, this is a
long-term investment that is set to grow.
Source from Internet
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