Sold for: RM6 million (RM90 psf)

Concluded by: Desmond Chia (REN 19255) of Hartamas Real Estate OUG Sdn Bhd (012-987 9117)

When: November 2018

Noteworthy:
● land size: 6,266 sq m (about 67,446 sq ft)
● Freehold industrial land
● Flat and empty land
● 10 minutes to NKVE interchange

According to Desmond Chia, the real estate negotiator who closed the deal, the seller has owned the land for 10 years and decided to unlock its value by selling it.

“The seller bought the land at around RM20 psf a mere 10 years ago as an investment. The land had never been occupied since day one. The seller sold the land for RM90 psf today. It is a good return on investment,” Chia told EdgeProp.my.

Meanwhile, the buyer is an oil and gas product company that is currently renting a factory in the same area.

“The buyer wanted to expand his production volume. He was looking to buy two move-in condition semi-dee factories at first but he changed his mind later and decided to build his own plant instead,” Chia shared.

He added that the deal went smoothly because the buyer liked the flat and square empty industrial land at the first viewing. He also liked that it was 10 minutes away from the highway interchange.

Chia has observed an uptick in demand for industrial properties and land in the Kundang and Rawang areas in recent years, thanks to a spike in land prices and rents in nearby Sungai Buloh.

“It is not easy to get a good piece of industrial land in Sungai Buloh for below RM100 psf but in Kundang, it is very easy, and moreover the land is freehold,” Chia explained.

As at Feb 20, Kundang industrial land for sale is asking for RM60 psf to RM120 psf, according to EdgeProp.my.

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Editor: To real estate agents — Have you just concluded an interesting deal? We would love to hear from you! Contact us at [email protected]