This article first appeared in City & Country, The Edge Malaysia Weekly on January 31, 2022 - February 6, 2022
The single row of 11 shopoffices along Jalan Mutiara Tropicana 3 in Tropicana, Petaling Jaya, is a convenient place for both local and nearby residents to do their shopping, grab a bite or run their errands. Jaya Grocer is the key tenant on this commercial stretch and occupies six ground floor units. Parking is relatively easy to find here.
According to Savills Malaysia group managing director Datuk Paul Khong, the shops are part of the Mutiara Tropicana development by Hicom Builders. “The mid-sized mixed-use development comprises two-storey terraced houses and three-storey townhouses, in addition to this row of shops.”
“This area is in close proximity to the mature neighbourhoods of Bandar Utama (BU12), Ara Damansara and the Tropicana Golf & Country Resort,” says Khong, adding that Mutiara Tropicana is a leasehold project built in 2010.
In addition to Jaya Grocer, Jalan Mutiara Tropicana 3 is also home to a newer tenant, Amazing Bakes. Occupying a corner unit, the bakery has garnered positive reviews for its pastries and breads, as well as hot meals and coffee.
Also on this stretch is a 7-Eleven, Continental Chai Safety Auto tyre shop, Health Lane Family Pharmacy, JY Home, which sells household supplies and kitchenware, and other offices.
Khong says the last transaction recorded here was in November 2019 for a three-storey intermediate unit at RM2.1 million. The unit has a land area of about 1,680 sq ft and a built-up of around 4,780 sq ft.
“This exclusive row of 11 shops enjoys almost full occupancy, except for an upper floor unit that is observed to be available for rent. The asking rent is about RM2,500 per month for a built-up of 1,645 sq ft,” he adds.
As for residential properties in Mutiara Tropicana, they comprise only two-storey terraced houses and three-storey townhouses, says Khong. “There have been limited units changing hands over the last four years.”
He adds that a townhouse unit with a built-up of about 2,790 sq ft was transacted at about RM1 million, or about RM360 psf, in 2019.
According to EdgeProp.my’s property listings, a two-storey terraced house in Mutiara Tropicana with a built-up of 1,680 sq ft and land area of 1,600 sq ft is asking for RM1.2 million on the market. The property has four bedrooms and three bathrooms, and comes partially furnished.
Also listed on the portal is a two-storey townhouse that is asking for RM930,000. The unit has a built-up of 2,790 sq ft and a land area of 1,680 sq ft, and comes with 4+1 bedrooms and 4+1 bathrooms.
Another townhouse, with a built-up of 1,680 sq ft, is listed for RM750,000 on the secondary market. The leasehold property has been renovated, has three bedrooms and two bathrooms, and comes fully furnished.
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