Main Place Residence, UEP Subang Jaya
Main Place Residence is a high-rise serviced residence located in USJ 21. It is adjacent to One City in USJ 25. Main Place Residence consist of a serviced apartment and an upscale retail mall. The retail mall is spread over three floors and comprises many notable tenants which include Starbucks Coffee, Uniqlo, McDonald's, Jaya Grocer, Toys "R" Us, Daiso Japan and Sushi Zanmai.
The 4.3 acres development of Main Place Residence is constructed over Newgate Avenue, which was abandoned in 2001 after 63% completion. The abandonment was due to economic downturn and a mismatch in cash flow. In 2009, Bina Puri won the open tender held for the project. The gross development value (GDV) of the project is estimated at RM291 million after completion.
Main Place Residence's facilities include an infinity-edged pool, gym, lounge, sauna, launderette, 3-tier security system and 24-hour CCTV surveillance. Resident parking is available on rental basis, but is free for the first four years. As the serviced apartments, retail lots and retail mall are seamlessly connected, residents of Main Place Residence can conveniently take an elevator down to access all kinds of amenities, from food and beverages to beauty and fashion, travel and entertainment outlets.
As USJ 21 is only about 15-minute drive from 15 to 20 schools, universities and colleges, the serviced apartments can also be rented out to students from SEGi College, Taylors College, INTI College, Metropoiltan College, Monash University and Sunway University. It can be accessed via KESAS, Federal Highway, NKVE, ELITE, NPE and the Subang - Kelana Jaya elevated highway. The USJ 21 LRT station, which is still in progress and estimated to be completed by 2015, is located less than 5-minute walk away from the development.
Bina Puri, the developer of Main Place Residence is an internationally well-known developer with world-class projects including KLIA 2 and LRT extension. Many investors are turned off by the fact that it has been abandoned for over 10 years, which could have weakened the structure. However, Bina Puri have rebuilt the structure to make it remarkably strong as new. Buyers should not be worried about the structure.
Needless to say, there are plenty of facilities and amenities. Investors can be assure of high rental yield with many expatriates and students in the area. In terms of location, it is strategically located in one of the most vibrant areas in the Klang Valley. Besides that, there are plenty of offices and commercial areas around USJ. Many young families and professionals are now looking into high-rise living, thus investors will have no issue with rental yield in Main Place Residence.