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Bangunan Shell Malaysia- Exclusive Marketing Agents





We are pleased to offer for sale by private treaty, the office building known as Bangunan Shell Malaysia in the exclusive Kuala Lumpur neighbourhood of Damansara Heights. Bangunan Shell Malaysia is unique in that it has served as Shell Malaysia’s HQ since the building’s completion in 1986. This longtime occupation by a single, blue chip MNC tenant means that the building is in superior condition, having been meticulously maintained and constantly upgraded to meet the rigorous standards of one of the largest corporations in the world.

Tenancy Details  

Shell Malaysia occupies the entire building on a leaseback arrangement which expires on September 15, 2012, with the option to extend the tenancy on a quarterly basis up to September 15, 2013. 

 

Title Particulars

Strata Title No.                                         :               Geran 17768/MI/BI, 1-12 (Menara B)

Parent Lot No.                                         :               51452                                                     

Town / District                                         :               Kuala Lumpur         

Land Area                                               :               11,596 square metres (124,173.5 sq.ft)

Tenure                                                     :               Freehold

Category of Land Use                             :               Building   

Express Conditions                                 :               NIL          

Restriction-in-Interest                              :               NIL

Unit Shares for Subject Property            :               35400

Total Unit Shares for Land                      :               61480

Registered Owner                                  :               Haluan Gigih Sdn Bhd

 

Location

Bangunan Shell is situated along Changkat Semantan and is accessible from both directions on Jalan Semantan in Damansara Heights. Damansara Heights is itself centrally located between KL city and the established suburbs of Bangsar, Sri Hartamas/Mont’ Kiara and Petaling Jaya. Bangunan Shell enjoys superb accessibility to and from all parts of the Klang Valley via Jalan Semantan and the Sprint Highway.  

 

Description

Bangunan Shell is a purpose-built 12-storey office tower with a basement car park linked with Wisma Chase Perdana with a common ramp. The building has a total net lettable area of 212,867 sq ft with a typical floor area of 21,176 sq ft. The building is generally in excellent condition, having been well maintained and constantly upgraded by Shell Malaysia since its completion in 1986.

 

Building Highlights

·      337 parking bays  (1 level basement car park and 2 levels upper floor)

·      5 passenger lifts and 1 service lift

·      Concealed A/C ducts with air-conditioning supplied via independently controlled packaged air-cooled units within each floor and subdivided into two zones.

·      Emergency electricity generator (2 sets)

·      Cafeteria

·      Gymnasium

·      Convenience Store

·      Clinic 

·      Badminton court

·      Squash court

 

Market Commentary

The decentralization trend where corporate tenants are choosing suburban locations over traditional city centre/CBD locations continues to gain in popularity. This trend is marked by an increasing number of companies (both MNCs and local corporations) setting-up or relocating to the established suburbs of Bangsar, Damansara Heights and Petaling Jaya. The push-and-pull factors of increased congestion in the city and the attractiveness of established, well-linked suburban locations with a ready availability of quality, competitively-priced office accommodation are cited as the main reasons for this trend. Transactions are gaining pace with a number of sales recorded in both the city centre and in suburban areas. Most of the buyers are observed to be investors, although there is notable buying interest from end-users as well. Net yields range from between 5% and 7%. 

Office Building Transactions 2010 – 2011

Building

Type

Location

NLA

(sq ft)

Price

(RM)

Price

(RM psf)

Quill 7*

Office

 

KL Sentral

356,759

428,000,000

1,200

Wisma Goldhill

Office

 

KL Golden Triangle

 

270,000

174,500,000

646

Block 6, The Horizon

 

Office

Bangsar South

47,800

36,000,000

753

Putra Place

Office/Hotel/ Retail

KL City

317,000 (office only)

514,000,000

No Analysis (Mixed-Use Development)

 

Wisma KLIH

Office

KL Golden Triangle

 

55,204

58,000,000

1,050

1 Mont’ Kiara

Office/Retail

Mont’Kiara

185,405

(office only)

333,000,000

No Analysis (Mixed-Use Development)

 

Sunway Tower

 

Office

KL Golden Triangle

 

268,412

185,000,000

689

Wisma Volkswagen

 

Office

Bangsar

43,743

40,000,000

915

Menara UOA Bangsar

 

Office

Bangsar

312,298

289,000,000

925

Wisma UOA Damansara II

 

Office

Damansara Heights

 

296,850

211,000,000

710

*Sale reported in Business Times (Malaysia) but as yet unconfirmed at time of printing.

The volume of transactions, as well as the considerable number of buy inquiries we receive, suggests that buyer demand for office space is alive and well. It is also telling to note that much of this demand is from foreign institutions hungry for a piece of the Kuala Lumpur growth story. However, quality en bloc offerings blessed with good locations, blue chip tenants and excellent management records remain in short supply.


Price:
Upon request

For further information please contact:

Ai-Leen Tan
(o)  +603 2691 9922  ext.260
(m) +6012 202 3209
(e)  aileentan@savillsrahim-co.com

James Goh
(o)  +603 2691 9922  ext.257
(m) +6017 277 6784
(e)  jamesgoh@savillsrahim-co.com


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