Saville Residence is a new freehold serviced residence located at the junction of the Federal Highway and Jalan Klang Lama (famously known as Old Klang Road). It is developed by Metro Kajang Holdings.
Saville Residence comprises of a block on 1-acre commercial land that houses a total of 181 condominium units. The units’ built-up sizes range from 1,237 sf to 1,388 sf for typical units, and 2,489 sf to 2,643 sf for penthouse units. There are up to 12 units per floor. It was launched in 2007 from RM403,200 (RM280 psf). Most units come with 2 car parks, while some are given an additional car park.
The condominium comes with modern facilities including swimming pool with submarine window, Wi-Fi zone, yoga zone, gymnasium, sauna, exercise zone and children playground. Its service suite facilities include multi-purpose hall, housekeeping, laundry, nursery and cafeteria. In term of security feature, it features 24-hour security with electronic card access and centralised CCTV monitoring system.
Saville Residence is surrounded by quite a number of amenities. In spite of the building itself houses commercial lots at the ground floor, it is within 1 km from Mid Valley Megamall and The Gardens for shopping leisure. There are few schools nestled nearby such as SJK Jalan Bangsar, SMK Taman Desa, SJK Taman Desa, SMK Desa perdana, SJK Agama Sri Pantai and SMK La Salle Brickfields.
Saville Residence can be easily accessible by numerous major highways that lead to Jalan Klang Lama. These include Federal Highway, SPRINT Highway, New Pantai Expressway (NPE), Damansara-Puchong Expressway (LDP) and KL-Seremban Expressway. Apart from road access, it is just within 10 minutes walking distance to Seputeh KTM Komuter station and Mid Valley Megamall LRT station.
There will be mix residents at Saville Residence when completed, as 40% of the total units were sold to foreigners from several countries including Australia, China, Dubai, Hong Kong, Singapore and Korea to name a few. Hence, there is high potential for investors to gain high rental yield from expatriate tenants if this serviced residence is well received by the expatriate community.
Each unit comes with a small utility room which is accessible from outside of the main door. It is only suitable to be used as a store. As all units come with 3+1 bedrooms, smaller built-up units look quite cramped. The dining and kitchen areas are rather small. Perhaps the developer should limit the layout to just 3 bedrooms to make each space more practical for living.
Comparing Northpoint to Saville Residence, the latter has several advantages than the former, despite of Northpoint being better located in the Mid Valley City enclave. Among its advantages are cheaper price, as Saville is tagged at RM280 psf to RM300 psf, while Northpoint is currently priced around RM400 psf; freehold tenure as Northpoint is leasehold; and Saville comes with free parking bays to its buyers while Northpoint does not.
Metro Kajang Holding is a big name in property development. It is established since 1979, under the name of Srijang Bena. Up to date, the group has completed over 20,000 units of properties, especially in Kajang. It has revamped Kajang vicinity into a massive residential area with 2 shopping malls, a hotel, relocated MPKJ, built a commercial centre and the list goes on. In spite of the company’s years of experience, it still received loads of complaints from its previous projects due to bad workmanship and low quality material used.
Investment wise, Saville Residence is full of potential for investment. Older condominiums nearby such as Robson Condominium and Desa Villa are tagged around RM300 psf. Thus, there should be no problem for the newly built Saville Residence price to hike to RM364, which is still cheaper than Northpoint’s current price. Besides capital appreciation, rental yield should be good as well. With a handful of foreigners living on the block, rental rate from RM2,500 is possible for Saville Residence to deliver a handsome 7% rental yield to its investors.