CONVERTING and redeveloping an ageing light industrial area into an upmarket resort-inspired residential and commercial enclave is an arduous task, but not an impossible one.
Bolton Berhad, one of Malaysia’s oldest property developers, has proven in its transformation of the 140ha Taman Tasik Prima Puchong over the last 10 years. Taman Tasik Prima has emerged as one of the preferred townships in Puchong on the strength of Bolton’s meticulous planning and innovative product offerings.
The commercial component of the township, The Wharf — a fusion of modern architecture, green and water elements — is set to be the showpiece of suburban Kuala Lumpur. This integrated 3-in-1 commercial development is located at the fringes of a tranquil 81ha lake.Comprising lakeview apartments, boutique showroom offices and a lifestyle mall inter-connected by intricate, contemporary and environmentally-driven architecture and design, The Wharf is set to transform the former light industrial area into a vibrant mini metropolis and live up to its promise of being the “Neighbourhood Lifestyle Des-tination”.
Bolton’s versatility and innovation has already received international recognition as The Wharf won an award for the Best Mixed Use category for Malaysia at the Asia Pacific Property Awards 2011.
An important factor leading to the impressive take-up rates at Taman Tasik Prima is Bolton’s track record in creating value and capital appreciation for its customers.
When Bolton began developing Taman Tasik Prima, the plan was to achieve RM500mil in gross development value (GDV).
Today, Taman Tasik Prima’s GDV is in excess of RM1bil, with The Wharf commercial development itself being valued at more than RM500mil.
The Wharf is sited on a 6ha tract of commercial land fronting Tasik Prima Puchong and flanked by existing prime landed properties as well as the Bizhub shopoffices.
The project was officially launched on Aug 20, 2010, with the BizWalk comprising 32 units of three-storey boutique showroom offices being the first product to be offered. With a minimum price tag of RM2.2mil and a GDV of RM81mil, BizWalk which boasted a unique design of 25ft wide frontage and each floor being a ground floor, was sold out almost immediately.
Its second product offering, The Wharf Residence was launched on Nov 12 last year.
Tower 8, the first block comprising 334 units offering built-up areas ranging from 795sq ft to 1,173sq ft, was designed with practicality and functionality in mind.
The lakeview apartments offer stylish and comfortable living spaces within a distinctive environment which offer full condominium facilities.One of its unique features is the large external storage room for each unit, located on the respective floors, which is something that has not been offered before in the Puchong area.
Tower 8, which has GDV of RM120mil, is now 85% sold. The second tower, Tower 18, is now open for registration.
Due to the tremendous response of BizWalk, Bolton launched an innovative 2-in-1 commercial offering called “Flexi Suites” located on Levels 4 and 5 of BizWalk.
The 64 units strata offering is designed to suit the business and lifestyle needs of its intended market, where the owners have the flexibility of renting out, occupying or doing both, hence the 2-in-1 tagline. With an entrance foyer for every unit, and linked to the multi-storey car park giving each unit the feel of being a ground floor unit, the Flexi Suites are also receiving a tremendous response.
The upcoming The Wharf Retail Mall will further strengthen the appeal of The Wharf Residence, BizWalk and Flexi Suites.
The mall, which has 1,296 parking bays, is expected to be completed by 2013. There would be a link bridge from the apartments to the mall, providing integrated convenience to residents.
The Wharf Retail Mall is one of very few malls fronting a lake, and there is ample promenade space for events and alfresco dining.
The mall has already received many enquiries from potential anchor tenants.
This year, the company also plans to launch “Summerhomes”, its last landed lakeview residential development which comprises 58 units of three-storey townhouses and four units of 2½ semi-detached houses with a GDV of more than RM45mil.Developments around shopping centres tend to appreciate in value due to the convenience, and by virtue of it being located next to The Wharf, Summerhomes is expected to be another hit for Bolton.