This article first appeared in City & Country, The Edge Malaysia Weekly on March 21, 2022 - March 27, 2022

In addition to finding one of the best roast duck stalls at Loong Foong Seafood Restaurant, one can also find an eclectic mix of trendy eateries and cafés along the unassuming single row of shops on Jalan 20/13 in Taman Paramount, Petaling Jaya.

F&B outlets on this block include One Half, Awesome Canteen, Meat Feds by Chef Yenni Law, Kakiyuki, Monster and Beer, Shokud Japanese Curry Rice and Feng Hotpot. The stretch is also home to creative space Awegallery and multi-label lifestyle store ilaika,

which shares a space with One Half. All these newer businesses are interspersed by conventional services such as tyre shops, car workshops, auto parts shops, air-conditioning repair shops, a hair salon and other offices.

Jalan 20/13 is adjacent to commercial developments on Jalan 20/14, Jalan 20/16a and Jalan 20/16 as well as the Star Grocer supermarket, previously Giant Paramount Garden, at the intersection of Jalan 20/13 and Jalan 20/16.

CCO & Associates director Chan Wai Seen notes that the shops on Jalan 20/13 as well as the surrounding commercial offerings have formed a highly successful neighbourhood commercial area offering a wide range of conveniences such as banks, F&B outlets, clinics, convenience stores, supermarkets, car workshops and offices.

Chan says: “The shops on Jalan 20/13 have evolved and sustained over the years. Many businesses along this road have been established over the medium to long term and they have proven to be sustainable and well accepted by the local and nearby population.

“Generally, these shops are supported by those living and working in and around the area.”

He says the shops on Jalan 20/13 have seen a limited number of transactions. “There have been very few shops along Jalan 20/13 that have changed hands over the past several years, largely because very few owners want to sell. Owners either occupy the shops or are enjoying recurring rental income.”

The shops — originally 1-storey but some have been renovated to include additional floors — have typical land sizes of 1,875 sq ft and floor areas of 1,600 to 1,700 sq ft for the 1-storey units, and 3,500 to 3,600 sq ft for the 2-storey ones, says Chan.

He notes that prices range from RM1.4 million to RM1.65 million for the 1-storey shops, RM1.8 million to RM2.2 million for the 2-storey shops and RM2.5 million to RM2.7 million for the 3-storey ones.

According to Chan, these shops enjoy high occupancy rates. “This is an established commercial area in a mature neighbourhood. Although there could be some changes because of the Covid-19 pandemic, we believe the shops will be occupied quickly once the market improves,” he says.

Asking rents for the ground floor units are RM5,000 to RM5,500 per month, or RM3 to RM3.30 psf per month, he notes.

Located in Section 20, Taman Paramount is one of the earliest developments in PJ, comprising a mix of residential and commercial developments. “Taman Paramount has grown to be a popular residential area in Petaling Jaya and caters to a large population within the area and its surroundings,” says Chan.

He adds that the popularity of Taman Paramount was further enhanced when the Taman Paramount LRT station, on the Kelana Jaya Line, was completed in 1999.

As for the residential landscape in the vicinity of Jalan 20/13, Chan notes that the majority of properties there are terraced houses: One-storey units have land areas of 1,600 to 1,875 sq ft and built-ups of 1,250 sq ft and have been transacted between RM650,000 and RM720,000, whereas 2-storey units have been transacted at RM800,000 to RM900,000.

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