Malaysia & Singapore Real Estate

[sinleong]

Has anyone heard of this project by Bolton, located beside Menara Bukit Ceylon? Redevelopment of the old Bolton Court.

[cmlee]

Bolton targets RM1b from 4 new properties

Bolton Bhd is targeting a gross development value of RM1 billion from four new properties to be launched this year.

Executive Chairman Datuk Azman Yahya said the four new properties would be located in prime locations.

"The much-awaited "Sixceylon" development in Jalan Bukit Ceylon will be launched in June," Azman said during the unveiling of the project here today.

The Sixceylon will be built on where the current Bolton Court is located.
The existing 12-storey Bolton Court, completed in the late 1970s, will be redeveloped and transformed into a modern development comprising a 33-storey apartment building priced between RM600,000 and RM1.2 million per unit.

The Bolton Court, with its design and location was well received by the expatriate community and many leading multinational corporations and foreign dignitaries have known it to be their home when in Malaysia, Azman said.

"Although Bolton Court has contributed significant investment income for Bolton over the years, we believe the time is now right to redevelop the old and tired-looking building," he said.

He also said the recent increase in interest rate is not expected to have a significant impact on the sales of property.

"The increase of 25 basis point is still small," he said.

"What is important is that there must be confidence that the financial market continues to support property projects," he added.

By Bernama

[linustw]

[newkl]

[newkl]

On the redevelopment of the 12-storey "Bolton Court" in Bukit Ceylon, Kuala Lumpur, Azman said the company will start building a 33-storey condominium block on the site six months from now, to be named "sixceylon".

"Although Bolton Court contributes positively to our investment earnings, we feel it's time to redevelop it to create a new landmark in Bukit Ceylon," he said.

The company built Bolton Court, comprising 20 condominium units, in the mid-1970s and retained the apartments for recurring income.

Sixceylon will feature 215 condominium units with built-ups ranging from 696 sq ft to 1,555 sq ft.

At the unveiling yesterday, Azman said the units will be priced from RM750 per sq ft to RM900 per sq ft each, or from RM600,000 to RM1.2 million. In comparison, prices of new residential units in Bukit Ceylon range between RM900 per sq ft and RM1,100 per sq ft.

"Based on feedback, I am confident we will have a market for sixceylon. We are targeting foreigners and young Malaysians," Azman said, adding that investors can expect 7-8 per cent returns.

Sixceylon will be launched to the public in June, following which Bolton will introduce "Wharf", a mixed waterfront development in Puchong, Selangor, and "Arata" at Kenny Hills and "51 Gurney" at Persiaran Gurney in Kuala Lumpur.

[newkl]

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[newkl]

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[newkl]

[cmlee]

Just view from the pricing only... It is cheaper than Verticas.
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[cooper]

With this price, is this project doable?
any comment?

[nicemamak]

Any % appreciation expected?

What is the rental yield?

Near to LRT & Monorail?

[Fernando Alonso F1 Champ]

is 6 Ceylon going to be at rm 750 psf or at rm 900 psf ?.........big difference between the 2 prices quoted....




or rm 750 psf is for the 2nd floor and rm 900 psf for the highest 332nd storey unit ?..........

still a big gap..............i heard also the 6 Ceylon units facing KLCC has a rm 100K premium attached to it.....vs the Berjaya Times Square facing units.......
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"Dont change lifestyle! Change Government!!"

I mean Change the Barisan Najis govt !!!!! Dont get it wrong !

[Hunter]

"the units will be priced from RM750 per sq ft to RM900 per sq ft each, or from RM600,000 to RM1.2 million"

Ya it is a bit confusing. If the RM600k unit only having 680sqf then it is near to 900psf.

I think small unit will be priced around 900psf and big unit probably average toward 750psf.

[sinleong]

you must compare apples to apples. problem with these new launches, they dont compare apples to apples.

the bolton guy is saying his RM750psf compared with neighbouring project (assume Verticas) costing RM1000psf. But he fail to highlight that his cost is starting from RM750psf. Of course if you go to the verticas show room, they can sell you a unit (but it's sold out) facing City Gardens for RM750psf (or less?). The RM1000psf refers to those facing KL tower at the 21st floor or above. The unit I was considering on the 19th floor was priced at RM950psf before discount.

And also, smaller units have higher price per sf compared with larger units.

[trevor]

[gks]

[linustw]

[nicemamak]

just duno can it still appreciate or not...and rental yeild too...

[fongkh]

I think Bolton could offer slightly lower selling prices because of the land cost which they owned the land since 1970s. However, for the norm of business, developer won't selling cheap as well just because of their low acquisition of the property.

For the bukit ceylon area, average price of the condo/serv.aprtment there ranged from as low as 400psf to 800psf. Just the Verticas Residensi fetch the premium price.

[nicemamak]

has it been launched?

Anyone know about the prices and how is the progress?

[jimmylim]

Any updates?

What's the price psf??
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[sinleong]

bolton said the price will start from RM600k and their smallest unit is 696sf. so, RM862psf lo..

[cooper]

Doable at this price?

[trevor]

So far, every damn project deemed cheap or expensive upon launching, as long as not abandoned, is profitable. So doable or not? Just buy! Chances are, will make money one.

[newkl]