Lease-back option guarantees returns to buyers


  • Community
  • Friday, 05 Aug 2011

PROPERTIES with a lease-back option like the new Academia@South City Plaza provide buyers an alternative for a hassle-free investment.

Andaman Property Manage-ment sales and marketing head Datuk Vincent Tiew said those who buy units purely for investment would be guaranteed a 8% return with a 3+3+4 years option agreement.

“We have leased the property to a university for their student housing so we can confidently guarantee the rental return to buyers. The units are fully furnished. Buyers would not have to go through the hassle of looking for tenants to rent their apartments.

“With students paying their tuition fees and housing rental at the beginning of the semester, they also won’t have to worry about chasing for rental,” he said.

According to Tiew, many property buyers were now switching to the trend where they would buy several cheaper units to be rented out instead of a single high-end property.

“That way, they have more flexibility in their investment and can sell them off at different times,” he said.

Built on top of the South City Plaza shopping mall, The Academia will have its own dedicated entrance and lobby with facilities like a swimming pool and gymnasium.

“We have more than 10 types of layout, from one to four rooms and from 500sq ft to 1,300sq ft. The prices range between RM200,000 and RM500,000,” he said.

The Academia, with a total gross development value of RM120mil, is currently 50% in progress and is expected to be completed by end of 2012.

Tiew said that they also had another project, The Arc @ Cyberjaya, which also has the lease-back option.

“It is also located near a university so we also have a block for sale with guaranteed rental returns for up to six years. The units are fully-furnished and the layouts are simpler where all units have three bedrooms and are priced between RM370,000 and RM400,000.

“We also have another option for buyers who want to buy the units to be occupied. We are absorbing the loan interest during construction,” said Tiew.

He explained that there would be a 0.8ha park located within the development and a sports academy that houses 15 badminton courts.

“The project also has four office and educational towers and we are looking at having new and existing universities and colleges occupy them,” he said.

Tiew said that their early-bird discount for buyers of both projects was on until Aug 31.

For more information, call the hotline at 1700-81-8118 or visit www.andaman.com.my

> IF you have upcoming projects, property sales previews or launches to highlight, e-mail us at metro@thestar.com.my

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