Downtown Kuala Lumpur is one of the best hotspots in the country in terms of exquisite property developments where modern city living thrives. Some say that the city centre is already bursting at its seams, and with the property bull run coming to an end (with the government taking multiple “cooling” measures to tame the escalating property prices) we are indeed seeing some slowdown in terms of the take up rates of new city condominiums.
But don’t get me wrong – KL city condominiums are still widely sought after – both by locals and internationals. Aspiring to bring a breath of fresh air to the busting metropolitan centre is The Mews, a brand new condominium development by E&O (the venerable upmarket property builders with an enviable portfolio – Dua Residency, St Mary Residences, Quayside, Straits Quay in Penang).
The marketing dude that we met at the launch enthused, “Surrounded with vines and trellises, the property aspires to bring natural beauty and understated simplicity to the heart of Kuala Lumpur.” Sounded nice, but we’d rather look at the cold hard facts to see if it’s worthy of all the hype. 🙂
The take-up rate is reportedly healthy (although we do not have the exact figures); apparently some 10% of the units have been taken up by the Japanese.
For the curious, “The Mews” is a British term for a row of apartments which are converted from stables. What’s the relevance to a condominium in the middle of the KL city, you ask? Good question… we haven’t got a clue.
The Mews Pricing & Configuration Details
The Mews sits on about 1.3 acre of freehold land along Jalan Yap Kwan Seng where the best that the city can offer is a doorstep away. Jalan Yap Kwan Seng is a short stretch of road (about 1km), populated mostly by old-ish bungalows which have since been converted into commercial establishments (restaurants, offices, boutiques, furniture shops). Other residential developments on Jalan Yap Kwan Seng are D’Mayang and Taragon Puteri at the further end connecting to Jalan Tun Razak.
Housed within the two 38-storey towers of The Mews are 256 serviced apartment units with built-up size ranging from 922 to 2,417 sq.ft. Units vary from 1-bedroom options to penthouses which offer just enough choices for singles, professionals, couples and families.The Mews is scheduled to be completed in 2017.
Prices for the units start from a “mid-of-the-KLCC-range” tag of RM1.6million up to RM4.7 million. A hefty price indeed and may be too expensive for many but then again, you’re really paying for the location – KLCC being the cream of the crop of property developments. To check if The Mews offers a fair market price, we have a free valuation guide for you which you can download now by clicking here.
Compensating for a price that will have you thinking twice is a set of impressive and private facilities packed within the development. Residents are treated with five-star hospitality services and special features with emphasis on providing the best of modern conveniences. Completing your signature and stylish city living experience in The Mews are following:
- Water sanctuary
- Pools (salt water lap pool, hydro spa pool and children’s pool)
- Bio fish pond
- Squash courts
- Rooftop terraces
- Gardens and barbeque area
Secure living is also on top of the development’s list. The Mews is equipped with a multi-tiered security system which include 24-hour surveillance together with other services such as shuttle and concierge services.
It’s All About The Location, Baby
Despite the hustle and bustle of the city, The Mews is a development designed to accommodate discerning investors who wish a tranquil and relaxed home life – despite being in the centre of the capital. The Yap Kwan Seng area seems to be quietly “tucked” in a corner while being central – a good spot for a city condominium.
Being somewhat sheltered also means that many amenities are not reachable by foot. Our sister site GoodPlace.my has developed a methodology to score the “walkability” of a city property; The Mews’ score is 77, which is comparable to other condominiums in the Yap Kwan Seng zone (Taragon Puteri scores 75, for example).
For more information on how to interpret the Walkability Score, and to get a free high resolution KLCC Walkability Map in PDF format, click here.
Completing the promise of a wholesome lifestyle is the array of the best amenities in the enclave. A short walk from The Mews will bring you to a world of premier shopping, fine dining and topnotch entertainment not to mention the plethora of pubs, bars and exclusive boutiques littered throughout KLCC. Experience the best retail therapy at Avenue K (home to the newly refurbished K Residence) and Suria KLCC, or head over to Bintang Walk or Ampang Park for more exciting shopping escapades.
Public amenities are also in abundance in the area. From banks to business centres, reputable educational institutions and a host of healthcare centres including the Tawakal Medical Centre, Pantai Indah Hospital and the Twin Towers Medical Centre to name a few. As for recreation, the city offers a world of possibilities from leisure time at the KLCC Park or golfing at Royal Selangor Golf Club and of course a great time at world famous Petronas Twin Towers. Those who love arts or theatre can also visit the Philharmonic Theatre and the Petronas Art Gallery.
Bearing the reputation as one of Malaysia’s hotspots, a network of extensive connectivity serves the rest of KLCC including residents at The Mews. Major roads and highways link the enclave to nearby centres via Jalan Tun Razak, Jalan Ampang, Ampang-KL highway, SMART highway and Mahameru highway. Also within the vicinity are two LRT stations (Ampang Park and KLCC) as well as business and city taxi that provide easy access in and out of the development.
The map below shows where the amenities which are closest to The Mews. Click on the buttons on the right to toggle the amenities as required.
[poiautomap address=”3.162884,101.713954″ zoom=”15″]The Mews, KLCC[/poiautomap]
What We Think
Eastern & Oriental Berhad (E&O) is building The Mews in partnership with Japan’s largest developer, Mitsui Fudosan Residential. We here at KLCCcondominiums.com.my are fans of E&O – it has a well deserved “top of mind” reputation as one of the most prominent upscale condominium developers in Malaysia, and for good reason. With a string of success stories behind the brand (Dua Residency, Idamansara, Seventy Damansara, Seri Tanjung Pinang), you can almost be sure that they won’t risk tarnishing their by screwing this up… 😉
We like The Mews’ location on Yap Kwan Seng – in fact we like it better than the Hampshire enclave where blocks of condominiums are side by side at close-ish distances. Yap Kwan Seng still boasts of clear, unblocked views of the city line, although this may set to change with more skyscrapers shooting up in the area. Currently residential choices here are limited to D’Mayang and Taragon – both are rather old which probably do not hold much appeal to The Mews’ target audience (who would probably go for branded residences such as RuMa, St Mary Residences or St Regis at Sentral as alternatives).
On the minus side, the design is rather ho-hum by E&O standards; and as observed by our friends at the SG Property Talk blog, the V-shape seems to be a little, well, out of shape.
At launch price of RM1,500 PSF, there may be bargains to be had especially in the lieu of even higher end launches in the KLCC enclave (with places such as Four Seasons already batting records at RM2,000+ PSF). The Mews may not be as “branded” (and this may have affected its pricing, kicking it down a notch to sub RM2,000 PSF levels), but its projected 6-7% gross yield may be a strong selling factor to investors – especially those who are not ready to plonk down RM2,500 PSF for Four Seasons (note that the national gross yield average is a little more than 6%). To check if these are fair market prices (and especially in lieu of the projected market slowdown in 2014), use our property valuation guide which you can download below.