The heritage residences is a high end condominium that located just right opposite of The Mines Shopping Mall. Although the condo had been built for about 5 years, however, it is still well maintained. This post is to serve the purpose of detail introduction on this condo. By googling the name itself, you would not find comprehensive analysis on the condo as it is considered a bit low profile as compared to other condos that located surrounding Seri Kembangan, namely East lake, Fortune Park and One South. I might call it a hidden gem as it has a very huge potential in capital appreciation going forward.
The condo itself has 5 blocks, which the developer named them as tower A,B,C,D and E. Tower D is currently still kept and managed by the developer. According to the agent, the developer is willing to let go the studio units with cash buy of RM500k. You might think that it is probably too ambitious for a unit with 480sf to sell in RM500k. However, there is still a lot of condos that hit RM1000psf or more surrounded the KL areas and even in Damansara. In terms of location, Seri Kembangan might not as par as KL city or even Damansara, however, the uniqueness of this lakeside project has induced a lot of investors to put a unit in their investment bucket.
The condo has 3 types of units, which is studio(480sf), and bigger units (1000sf and 1400sf). Currently, the studio unit is selling at RM500psf. However, with the new SOHO that just launched in One South with the price of RM500psf++, I would think that the heritage studio will mark up with it and appreciate more as it has a better location and is close to The Mines and Serdang KTM station (walking distance 5 mins). The heritage has just changed their management team, however, by paying a visit there, you would easily notice that the building is very well maintained.
Besides that, the rental for The Heritage is AWESOME! The gross ROI is about 7% or more as the minimum rental there is RM1600 per month. The target market is the students and expats from middle east. There are more than 10 Universities surrounding The Heritage (AISM, APIT, UPM, MMU, SEGI and etc). You can hardly find a condo that earn you 7% ROI nowadays due to the massive appreciation in housing price this few years. If you are lazy to look and handle for tenants, the management will happy to do it for you. However, they will charge 10% fees on the monthly rental and they will only hand you the rental every quarter.
There are several restaurants and pubs that run their businesses in the heritage retail lots. So, after a hectic day in working environment, it will be perfect for you to chill at the lakeside pub with a bottle of beer. Looking at the vast lake with the moonlight accompany you, it will be such a good environment that you will never experienced in KL city.
Besides the lake and environment, the second attractive point is that the heritage is linked with The Mines shopping mall. The aforementioned shopping mall has been taken over by Capital Mall, which is a veteran Singaporean company in managing malls. From my observation, the mall has gained its reputation as the customer turnover increased tremendously recently. A lot of famous retail franchises also step in the mall, namely Chatime, Tong Pak Fu, Hui Lau Shan, YSF, VOIR, and etc. A lot of on-going refurbishment projects for the mall is observed throughout my visit to The Mines lately. The residents of The heritage can just walk through a short tunnel that linked to The Mines and do some groceries over there. If you feel not really in walking mode, you can just take a boat from the heritage to The Mines. Such an artistic feel right? Exactly like Venice, you can travel with boat to The Mines.
Besides that, if you are an outdoor kind of person, the Asian Water Sports that located at the heritage will be another plus point for you. You can enjoy a lot of water sport activities, for instances banana boats and etc on the mines lake.
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