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PETALING JAYA (Sept 22): Seremban Prima (formerly Seremban Parade), a shopping centre on Jalan Dato Bandar Tunggal, Seremban, is up for sale. Knight Frank Malaysia recently called for bids on the 19-year-old property.
"The owners are keen to dispose of the asset to realise their profit. The mall underwent refurbishment in 2014 and was renamed Seremban Prima," says Knight Frank executive director James Buckley.
The mall is jointly owned by Allstones Seremban Pte Ltd (ASPL) jointly and a foreign investment fund. ASPL is an associate company of Allstones Group Asia Sdn Bhd (AGA). AGA development management arm, Blackstone DM Sdn Bhd, was the development manager for the asset enhancement works on the mall.
Seremban Prima is a seven-storey building with a total gross floor area (GFA) of 499,066 sq ft and a net lettable area (NLA) of 321,800 sq ft. The mall is managed by Henry Butcher Malaysia Sdn Bhd and is currently 74% occupied. It also has planning approval for a 250-room hotel with a GFA of 170,000 sq feet, says Buckley.
The mall has 210,000 monthly visitors and is in a strategic location with public transport. “There is easy accessibility, with the Seremban KTM station and Terminal One bus station located 110 meters and 450 meters away respectively, which makes it convenient for visitors,” Buckley says.Seremban Prima is held on a 99-year lease that expires in 2094.
Bidding ends on Nov 6.
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