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Tuesday, March 25, 2008

More office space for PJ’s Section 13

The site for the future PJCC

PETALING JAYA: The Brunsfield Group of Companies is targeting multinational companies who are on the lookout for a Petaling Jaya business address to take up space at its upcoming corporate office-cum-showroom building that will be coming up along Section 13’s Jalan Kemajuan.

Its executive director of property development Chan Chee Keong told theSun its central location would ensure the success of its project, known as Petaling Jaya Commercial Complex (PJCC).

“The commercial site is also near popular eateries like Restaurant Unique Seafood. Nearby existing and upcoming commercial developments point to the potential of this area as well,” said Chan.

Having obtained its building plans and development order approvals recently, construction of the eight-storey project with a gross floor area of 378,172 sq ft and a net letable area of 289,997 sq ft on a freehold 3.48-acre site will start in June. Completion is in 36 months and the developer plans to lease the building enbloc.

“We have started the pre-leasing exercise and have received a few enquiries.

Such a building will be ideal for businesses that also need warehousing or storage facilities to accompany the office. Behind the main block of PJCC, there is space for such facilities,” he added. The Sime Darby Group and Brunsfield jointly own the site. PJCC will house showroom facilities
on the ground and first levels while the remaining upper floors will be for office use. According to Chan, rental rates are between RM4 and RM4.50 psf.

Meanwhile, a consultant familiar with the area believes that the project will do well because of its location. Kim Realty principal Vincent Ng also told theSun that the whole Section 13 area has been zoned for commercial use.

“Nowadays Jalan Kemajuan is very much considered a main thoroughfare and with its close proximity to the Federal and Sprint highways, it will be suitable for businesses that are looking for an office away from the city centre, which is getting too crowded,” said Ng.

Ng also noted that bungalows along Jalan Kemajuan have been transformed into business premises over the past few years. “Businesses here front the main road and enjoy good exposure. Demand for land here is also on the rise and I believe people are willing to pay more than RM200 psf, depending on the size and location of the site,” he added.

As land prices become more expensive in the city centre, Ng also feels that businesses are moving away from the city centre to suburban areas. Citing Damansara Heights as an example, he said rental rates for office space there is in the region of RM5.50 psf.

“Rental rates in the Section 13 area are easily going between RM3.50 and RM4 psf, such as those in Jaya 33, which is fully occupied, and 3 2 Square’s tower block,” said Ng, adding that PJCC could command a rental rate of about RM4 psf if it were to be a nicely done up modern building.

With the appreciating land cost at Section 13, Ng also felt that it would be a waste to offer industrial properties.

By theSun (by Loo Pik Kwan)

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