The Stonor Park’s claim to fame: won the FIABCI‘s Best High Rise Residential Building award back in 2007. Occupying a prime spot next to Park Seven and right across the road from The Binjai, Stonor Park remains in the “upper tier” among condominiums and apartments in the KLCC enclave.
Click here(and scroll down if needed) if you are looking for property listings for Stonor Park.
One of the very first luxury KLCC condos in the market, the development was launched in 2003 by Beneton Properties (the developer behind the boutique Hotel Maya – less than 1km away from Stonor Park, Menara Perkeso and Plaza 136) and completed in 2006. Despite its rather “venerable” status, Stonor Park is well maintained and still command a rather premium even when compared with newer condominiums in the KLCC area.
Stonor Park is part of the “Binjai” cluster of KLCC condominiums which are known for their above average pricing and good location with superior walkability. More on walkability scores later.
With Platinum Park being built right across the road, we would expect the “spillover effect” with demand (and prices) to continue to go up; launch prices for Platinum Park are estimated to be around the RM2,000 per sq ft levels.
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What’s Included In The Box
There are two blocks of twenty stories housing some 71 units of luxurious freehold condominiums priced at around RM1,000 per sq ft (which is a double of its launch price at RM500 per sq ft, but that was way back in 2006). To determine if these are fair prices, download our easy valuation guide here. More details on the pricing later in this review.
Build-up area ranges from 2,000 to 8,000 square feet. The development is on a one acre plot, and there are only two units on each floor, giving it an aura of exclusivity.
Stonor Park’s Location: Where The Action Is
Stonor Park has got the prestigious “Persiaran KLCC” address, and is located on the same row as some embassies and the palaces of Terengganu and Kelantan. Fancy a short stroll? The KLCC park is just about 10 minutes away by foot. Being close to the Golden Triangle has its advantages – Jalan Bukit Bintang (home to Pavilion, Lot 10, Fahrenheit) is just round the corner.
Being in the heart of KLCC also means that it is well connected to the rest of the city. Stonor Park is accessible via Jalan Kia Peng and Jalan Tun Razak, and if you take public transport then the nearest LRT stops are KLCC (inside Suria KLCC) and Ampang. There are also ample RapidKL buses as well as taxis which throng the area (especially the Petronas Twin Towers) for passengers.
What this means is that the development around Stonor Park could be rather dense, and if you are into wide open spaces then this condominium might not be for you after all. But if you are all for “action in the city” then Stonor Park should be in your shortlist for a KLCC condo.
The Walkability Factor
A condominium’s “walkability” is scored by considering its closeness to important amenities and hot spots. Binjai condominiums (or Zone C as defined within KLCCcondominiums.com.my’s specifications) have relatively good walkability scores – for Stonor Park’s case, it’s a respectable 81. To download a free high resolution map containing the Walkability Scores of all KLCC properties, go here.
Check out this interactive map to see what’s close to Stonor Park. (The sidebar on the right contains clickable icons which toggle the hotspots for clarity).
[poiautomap address=”Stonor Park Jalan Stonor Kuala Lumpur Federal Territory of Kuala Lumpur” zoom=”15″]Stonor Park[/poiautomap]
Stonor Park Pricing For Sub Sale Units
At the time of writing, the subsale price has somewhat tapered after reaching its peak in 2009 (about RM1,000 per sq ft). The asking price remains around this figure although there have been reported transacted price at about RM800 per sq ft.
Our sister site GoodPlace.my tracks the asking prices for most properties in the Klang Valley; here’s the trended data for Stonor Park for the past few months –
UPDATE: April 2014: A 2,314 sq ft unit was sold for RM2.15 million by Daniel Lim of Zerin Properties; this corresponds to RM929 PSF.
Rental is about RM3 per sq ft, although in lieu of the current (perceived?) over supply of luxury condominiums (in KLCC and elsewhere) there’s lots of room for bargain. No harm to shop around for the best deal… but if you want us to hook you up with our (personal) realtor then get in touch. We’ve seen some listings on the local property portals where 2,000 sq ft units were advertised at RM1.8 million but those don’t look very legit! Too many bait-and-switch cases especially in the luxury apartment markets that I personally would prefer getting help from a broker whom I trust. Use our DealFinder service – it’s easy, free and non-obligatory. 🙂
As asking prices for Stonor Park (or for any KLCC apartment for that matter) are showing some broad fluctuations this year, it’s important for the prospective buyer to know what the true market value so that he or she does not overpay. Use this valuation guide to help you. The KLCC market seems to be rather “opaque” in terms of pricing – get your agent’s help and shop around!
All in all, Stonor Park retains its “classiness” and is definitely holding its own in the face of competition from relatively newer developments such as Binjai, Marc Residences and The Pearl. Due to its location it could be easily overlooked as potential buyers typically focus primarily on the condominiums along Persiaran KLCC itself (the Binjai, Park Seven), and this could mean that there could be good opportunities for investment with good rental yield (relative to KLCC standards!).
To know what’s a Stonor Park unit’s “true market value” use this handy little valuation guide courtesy of GoodPlace.my –