This article first appeared in City & Country, The Edge Malaysia Weekly on May 17, 2021 - May 23, 2021
Jalan Sultan Azlan Shah, previously known as Jalan Ipoh, is a major trunk road that connects Kuala Lumpur to Ipoh. It is about 5km, with the northern end linking to Jalan Besar Kepong/Jalan Kuching, and the southern end to Jalan Pahang/Jalan Tuanku Abdul Rahman, says Nawawi Tie Leung Real Estate Consultants Sdn Bhd managing director Eddy Wong.
The early stretch of Jalan Sultan Azlan Shah mainly comprises older 2-storey shoplots and pockets of newer 3- and 4-storey shopoffices. They are occupied by offices, retailers and eateries such as Restoran BBQ, Restoran Son In Bak Kut Teh, Restoran Ras Balouch and Restoran Pakistan.
Other businesses along that stretch include Buku Sin Lian (KL) Sdn Bhd, ST Auto Spares Sdn Bhd, clinics such as Qualitas Health — Klinik Reddy and Klinik Kok Kai Yan, and Damai Service Hospital (HQ).
Data provided by Nawawi Tie Leung shows that the 2-storey shoplots, with built-ups ranging from 1,585 to 1,851 sq ft, were transacted at RM1.3 million to RM1.9 million, or RM756 to RM1,035 psf, in 2018 and 2019.
Rents for ground floor units range from RM3 to RM5 psf per month, and for the upper floor units, from RM1 to RM1.50 psf per month. These translate into an annual yield of 3.5% to 4%.
Wong notes that there have not been any transactions for the 3- and 4-storey shopoffices in recent years.
“There is no doubt that the Covid-19 pandemic has affected the overall property market, including these shopoffices. In particular, an older commercial property in a standalone location may be more affected than the newer ones with a large population base close by to support commercial activities,” he adds.
Amy is a frequent customer of Restoran BBQ, which is well known for its barbecued meat and wantan mee. “I always opt for the char siew wantan mee. The chewy egg noodles, with dark soy sauce and a generous amount of dumplings, are served in a flavourful chicken broth,” she says.
The Chinese restaurant also serves wantan mee with mushroom and chicken feet, curry mee, char siew (barbecued meat), siew yoke (roast pork belly), chicken/duck rice, char siew duck noodles and dry curry chicken noodles.
As for nearby residential properties such as Titiwangsa Sentral Condominium and Bistari Condominium, Wong says units with built-ups of 1,044 to 1,324 sq ft were sold at RM430,000 to RM660,000 in 2018 to 2020. Rents range from RM1,900 to RM2,200 a month, giving an annual yield of 4% to 4.5%.
Jalan Sultan Azlan Shah is also connected to Jalan Tun Razak and Jalan Kuching — major roads that link to the Duta-Ulu Kelang Expressway. Amenities nearby include KPJ Sentosa KL Specialist Hospital, AC Hotel by Marriott Kuala Lumpur, Dynasty Hotel, Sunway Putra Hotel and Sunway Putra Mall.
“Like the rest of Jalan Sultan Azlan Shah/Sentul neighbourhood, this area is due for redevelopment because of its age. A redevelopment would be appealing, due to its proximity to the Kuala Lumpur city centre,” says Wong.
Save by subscribing to us for your print and/or digital copy.
P/S: The Edge is also available on Apple's App Store and Android's Google Play.