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70% of Eco Somerset shops with prices from RM1.8 million snapped up in a day

About 200 interested buyers attended the Eco Somerset Phase 1 balloting event last Sunday. - Pic by EcoWorld. About 200 interested buyers attended the Eco Somerset Phase 1 balloting event last Sunday. - Pic by EcoWorld.

Eco Somerset lifestyle shop offices in the Eco Sanctuary township at the south of Kota Kemuning have received overwhelming response from buyers, with 70% of the units snapped up during the first day of its official launch.

Eco Sanctuary general manager Ho Kwee Hong told TheEdgeProperty.com around 200 interested buyers had attended the launching and balloting event held at the Eco Sanctuary sales gallery yesterday.

“The balloting started at 10am, and 70% of the units were chosen by buyers who had dropped their cheques into the balloting box,” she said.

Eco Somerset comprises 88 units of 2-storey and 3-storey shop offices with built-up sizes between 3,000 sq ft and 6,000 sq ft.

In this balloting event, only 65 units were put up for sale as 23 units were allocated for the company’s associates and staff.

The shop offices with selling prices starting from RM1.8 million, which averages RM600 psf, are designed to cater to the daily needs of residents and will include retail, F&B and other services such as laundry service.

Ho noted that the 3-storey corner units – which are selling for RM3.6 million – are the most popular type, with most of the units taken up. However, she didn’t disclose the number of units sold.

“Some buyers are business owners who plan to start their business here, some of them are buying for investment purposes. The ratio of is about 50:50,” she added.

Currently, there are about 20 units left.

Eco Somerset is also the first phase of the Eco Sanctuary City development, the commercial component of the township by Eco World Development Group Bhd (EcoWorld).

Ho said the company is now planning the second phase of Eco Somerset, which consists of 68 units of shop offices with a similar concept and layout, and expects to launch the project by year-end.

“Registration has started. Buyers can register their interest with us or grab a chance to own limited units from phase one,” she added.

Ho noted that for investors, the company will also provide free-of-charge match-making services to help owners find tenants to occupy their ground floor.

Besides this, in order to encourage owners to bring in good quality tenants, Eco Sanctuary will evaluate and offer incentives, either by subsidising the franchisee fees or 3% of the property purchasing price, to owners who secure a deal with good franchise brands.

 

News Source: The Edge Property. 25 April 2016

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