http://img528.imageshack.us/img528/2314/bangsarjunctionso9sj6.jpg (http://imageshack.us)
Shot at 2007-07-17

I think someone has post the rendering, pls delete it or should it deserve a thread?

Conceptual rendering of Bangsar City in 2008
http://2.bp.blogspot.com/_9-TGpM01RS0/Sc5FZWecWxI/AAAAAAAAEKs/7vgmQjx36Y0/s400/bangsar+city.jpg

City&Country: Cover Story -- Bangsar land draw
By Racheal Lee
Sunday, 21 February 2010 00:00


Bus station, office towers, hotels and even a shopping mall… These are just a few of the guesses being bandied about on the ultimate use of the prized vacant plot where the Unilever headquarters and factory once sat in Jalan Bangsar, Kuala Lumpur.

Until its relocation in 2003, after 56 years on that spot, the Unilever (Malaysia) Holdings Sdn Bhd’s headquarters and factory was a Bangsar landmark. The buildings would have seen the days when Bangsar property prices were a mere fraction of what they are now and the traffic light compared with the congestion of today.

Wati, who runs an eatery in Jalan Riong just opposite the factory site, tells City & Country she has heard that a commercial development will be built there.

“It is said they will build hotel and office towers here,” she says, gesturing to the land. “The development will be something like the neighbouring Bangsar Village ,” she adds with a certain authority.

There are other theories. Shahril, a resident of the medium-cost apartments near the vacant site, has heard that a bus station, similar to the KL Sentral transportation hub, will come up on the land. Shahril goes on to say if this is true he will protest against the development, which he fears will further clog traffic flow in the area, due to the nearby Bangsar LRT station and the growing number of retail spaces.

Wati and Shahril are not the only ones keeping an eye on the development of the 19-acre piece of freehold land. Many others, astute developers especially, definitely have it on their radar.

Unilever (Malaysia) Holdings’ corporate office relocated to its current premises in Menara Telekom in 2003. Just before the move, its manufacturing operations moved to the Bukit Raja industrial estate in Klang and to Rawang.


http://www.theedgeproperty.com/images/stories/Weekly_CityCountry/790/cc_1_790.gif


A visit by City & Country found the Bangsar tract overgrown by weeds and thick bushes, a health concern of residents there. A few old 1- to 2-storey unoccupied buildings still stand on the site. The multiple gates are chained and padlocked, with signboards warning against trespassing. A signboard at the entrance indicates that the land belongs to the Railway Asset Corp (RAC).
According to a source familiar with RAC, the asset management company is in advanced negotiations with “two to three government-linked companies (GLCs)” which are keen to buy the commercial land. It is, however, not immediately known how much longer the talks will take or the price tag of the real estate.

Chan Wai Seen, executive director of JS Valuers Research & Consultancy Sdn Bhd, tells City & Country that the land could fetch RM360 psf and above, given its frontage to the busy Jalan Bangsar.

The value estimate is based on the transaction of a land-cum-buildings deal along the adjacent Jalan Riong, which does not have frontage to main road, last December at RM360 psf.

The land has, unsurprisingly, attracted numerous developers including Mah Sing Group Bhd and Land & General Bhd (L&G) which are believed to be submitting proposals to RAC to jointly develop the land, the source adds.

This plot has been zoned for “mixed commercial and industry” under the draft KL City Plan 2020.

It is believed RAC is only able to sell the land to government-linked agencies which can then dispose of it to a private developer or, alternatively, develop the land jointly with a private developer, the source tells City & Country.

According to postings on online forums, an integrated project dubbed Bangsar City will come up on the site. But checks, however, reveal that Bangsar City could be just a concept of future development on the site, and that RAC has not submitted any development plan to the local authority.


Balai Berita

The “Unilever land” is not the sole dream of developers. Across the road, bordered by Jalan Riong and Jalan Liku, are a cluster of buildings owned and occupied by The New Straits Times Press (Malaysia) Bhd (NSTP).

NSTP’s news operation centre and headquarters, Balai Berita, sits on two adjacent tracts totalling about 3.64 acres. These were acquired in 1972 and 1988. NSTP’s printing plant operated here before it was relocated to Bukit Jelutong in Shah Alam, Selangor.

The original office building on 84,173 sq ft was built 36 years ago. An annexe, believed to be 17 years old now, sits on the other plot of 74,270 sq ft.

These tracts are worth RM56.83 million, or about RM358 psf according to its FY2008, ended Dec 31, accounts.

Another factor, JS Valuers’ Chan says, that would impact the value in the land in that area is the plot ratio. Zoned for “mixed commercial and industry”, the area (“Unilever land”, Balai Berita and its surroundings) has a permitted plot ratio of 2.

It is noteworthy that a piece of commercial land on the nearby Jalan Maarof has fetched RM1,000 psf after the landowner obtained the development order (DO) for a 7-storey building.

A redevelopment of NSTP’s two adjoining tracts seems to be on the cards. It has been reported recently that the NSTP management has told its senior staff it is open to any recommendation or proposal on how to generate higher revenue from the properties it owns, of course including that in Bangsar as well.

According to the report, the publishing house is also looking to sell non-revenue generating assets, including land in Bukit Jelutong, as well as re-evaluating the commercial viability of other properties it owns, to raise funds for future expansion.

Three months ago, NSTP’s major shareholder Media Prima Bhd (MPB) proposed a share swap exercise to take the company private. The initial one-for-one share exchange comes with one free MPB new warrant for every five NSPT shares accepted. In November, MPB sweetened the deal by revising upwards the share swap ratio to six-for-five while retaining the warrant offer. NSTP also declared a special tax-exempt dividend of 40 sen per share the same time.

As at Jan 4, MPB has successfully garnered a 89.64% stake, paving the way for the publishing house to be delisted.


China Press

The “Unilever” and NSTP land in Bangsar are not the only candidates for redevelopment in the area. Next to the NSTP headquarters, across the road from the old Unilever factory, is yet another candidate in the form of the China Press Bhd headquarters.

Industry talk has it that China Press operations will be moved into the Nanyang Press Holdings Bhd headquarters in Petaling Jaya for business consolidation. The three main Chinese media organisations in Malaysia, including Sin Chew Media Corp, China Press and Nanyang Press Holdings, are owned by timber magnate Tan Sri Tiong Hiew King.

He, in turn, controls the four main Chinese national newspapers in the country — Sin Chew Jit Poh, Guang Ming Daily, China Press and Nanyang Siang Pau.

The freehold China Press headquarters site is owned by Media Chinese International Limited since 1976 (Media Chinese International is listed on Bursa Malaysia and Hong Kong Stock Exchange). The 34-year-old building is sitting on land with a net book value of US$3.1 million (RM10.4 million), according to the company’s FY2009 annual report end-March 31.

According to the annual report, Media Chinese International also owns an adjoining plot on which are buildings that are 21 years old. This particular tract was bought in 1988, and has a net book value of US$487,000 (RM1.6 million).

These two pieces of land measures about 1.17 acres in total.

Under the draft KL City Plan 2020, the Jalan Riong/Jalan Liku area has been zoned for “mixed commercial and industry”. This means the area can be utilised for storage, distributive trade and service industries with up to 30% use for commercial. It has a permitted plot ratio of 2.

If landowners in the area were to propose commercial developments of a higher plot ratio, they need to convert the land to commercial land status.

Bounded by Jalan Bangsar, Jalan Maarof, Jalan Tanduk and Jalan Liku, the area is a stone’s throw away from commercial developments like Mid Valley Megamall, Menara Mutiara Bangsar, KL Sentral, Dataran Maybank and UOA Bangsar.

Nearby, construction of the KL Eco City is underway. This redevelopment of Kampung Haji Abdullah Hukum is being carried out jointly by S P Setia Bhd and Kuala Lumpur City Hall (DBKL). The first launch has been slated for July.

Despite robust development activities in the vicinity the Jalan Riong/Jalan Liku area has, surprisingly, stayed relatively quiet. VPC Alliance (KL) Sdn Bhd managing director James Wong says due to its past industrial use, the market appears reluctant to view the area as a prime office or industrial district.

The proximity of Tenaga Nasional Bhd’s (TNB) transmission stations and activities (along Jalan Bangsar), located to the south of the Jalan Riong/Jalan Liku area, may also be a deterrent to the place evolving into a prime commercial or residential district, he adds.

The reality is that redevelopment of the area is inevitable, given its proximity to the city and the accessibility of two LRT stations and land in good locations getting scarce.

Stephen Tew, managing partner of Hectares & Stratas Sdn Bhd, says since the area is a prime location, land owners wishing to go into commercial development will not face major problems as DBKL has always wanted to shift industrial activities out of the city.

“If they were to redevelop the area, chances are they will go for mixed development of office and retail — something like Mid Valley Megamall — but it will be of lower density due to the road system. Hence, the retail mall will be aimed at the niche market. Strata offices are also suitable due to the LRT stations,” he says.

VPC’s Wong concurs, saying that an urban park consisting of 10- to 15-storey office blocks, with lifestyle activities such as bistros and restaurants, is the ideal development for that area. For the NSTP headquarters’ land in particular, he is not surprised that the management may invite GLCs like Malaysian Resources Corp Bhd (MRCB) to jointly develop the land.

The value of strata office lots in Bangsar has appreciated, encouraged by the price increase of office lots in KL Sentral.

JS Valuers’ Chan tells City & Country: “Currently, selling prices of office space in Plaza Sentral, KL Sentral range from RM850 to RM1,000 psf. The asking prices of office units in UOA Bangsar are in the region of RM850 psf, which is about 30% higher than the initial developer’s selling prices of RM650 psf.”

He says the ground floor of the old shophouses on Jalan Bangsar, including those beside China Press headquarters, are being rented for RM4 to RM5 psf per month. He says this is reasonable given their frontage to Jalan Bangsar.

Office space in UOA Bangsar, meanwhile, is also going for RM4 to RM5 psf per month, he says.
Elvin Fernandez, managing director of Khong & Jaafar Sdn Bhd, says the land in the Jalan Riong/Jalan Liku area could fetch RM500 to RM600 psf if approved for commercial usage. “Such a value will be fundamentally supportable by the land being developed with office buildings which could fetch rental of RM5 to RM6 psf a month upon completion,” he tells City & Country.

One thing is for certain, the landscape of Jalan Riong/Jalan Liku is poised to change.

[I]This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 790, Jan 25-31, 2010.

http://img528.imageshack.us/img528/2314/bangsarjunctionso9sj6.jpg (http://imageshack.us)
Shot at 2007-07-17

Such a nice location!!!

http://img199.imageshack.us/img199/5087/63391437.jpg

http://www.theedgeproperty.com/images/stories/Weekly_CityCountry/790/cc_1_790.gif

5-10 minutes walk from the LRT station...

Mystery project in the works
2010/08/17 Noel Achariam
http://www.nst.com.my/nst/articles/2uler/Article/

http://www.nst.com.my/articles/2uler/single

A new development is expected to take place on the neglected land
in front of the New Straits Times Press in Jalan Riong. — File picture

KUALA LUMPUR: Speculation is rife over a development project said to be coming up at the site of the former Unilever Malaysia headquarters in Bangsar.

It is learnt that the piece of prime land, which has become overgrown with lalang and bushes since Unilever Malaysia moved out in 2003, will be handed over to a new owner in three weeks.

The land currently belongs to the Railway Asset Corporation (RAC).

Efforts to find out more about the project have been unsuccessful. There were rumours sometime back that a transport hub might be built on the site. (????? :lol:)

However, it is now believed that a mixed development project comprising residential and commercial lots, may be in the pipeline.

A spokesperson for RAC would only confirm that the corporation had been in talks with a potential client to develop the land.

"All we can say is that we will be finalising all matters in the next three weeks," he said

RAC would also not be cleaning up the site despite complaints from residents in the area about the undergrowth

"For the time being, we are not going to touch the property," he said

Unilever Malaysia, formerly known as Lever Brothers, occupied the premises for 56 years before moving out in 2003. Since then, the land has remained vacant.

Bangsar Baru Residents' Association secretary Prem Kumar Nair said if the area was going to be developed, the new owner should take full responsibility and ensure that the development would not affect the area's residents.

"It doesn't matter if it is going to be a residential or commercial development, the land owner must abide by all regulations set by the local authority," he said.

Prem said Bangsar was already densely populated and new projects would increase the density.

"It is crucial that the developer ensures that there are sufficient exit and entry points. Jalan Maarof is already congested with traffic coming from Mid Valley, Petaling Jaya and the city. To prevent the traffic from getting worse, a traffic assessment study must be done," he said.

Prem said residents should be informed of proposed developments.

"It is important to get residents' feedback on the development."

Bangsar residents had expressed concern that the vacant land would be a breeding ground for Aedes mosquitoes.

A check by Streets found that the land was overgrown with undergrowth. There was also some rubbish. The gates were chained and padlocked and "No Trespassing" signs were hanging on all three gates.

Prem said it was the responsibility of land owners to ensure that their properties were not breeding grounds for Aedes mosquitoes and other pests.

"Proper maintenance should be conducted regularly to ensure that the area does not pose a danger to nearby residents," he said.

Streets had highlighted a similar complaint last year and the land was cleaned up soon after the report was published. However, the land has not been maintained since then.

Will keep you guys updated on this project as my office is only 1 min drive from here:D

Location >


http://i9.photobucket.com/albums/a82/supertek/P1000265.jpg

^^ Nice piece of land there

I think so too!!!I just hope whatever they putting up there will be something great too!!

Initial report by Malaysiakini today is that this land has been sold to PHBB... the owner of Nu Sentral Office Tower....

Lever Brothers???!
From OutSyed The Box Blog

http://1.bp.blogspot.com/_P6bgLo1z_aw/TJiaxhBM5zI/AAAAAAAAB8U/uGwYKXvT6d0/s1600/PEMANDU+008.jpg

Saw some excavation works going on at site:

http://i346.photobucket.com/albums/p436/darrenyeo/IMG_0774.jpg
* plz ignore the motorcyclist

any news??

as mentioned earlier. some land clearing works going on. but seems more like a maintenance procedure

could it be dis1????

dear all forumer,

there will be projects going to launch at bangsar pantai area.

1. commercial project (800-900psf)

2. service apartment (500psf)

3. landed residential

we will be to marketing agent for these project, but again, no info can be release via internet until the launching. i hope you can understand our

however i can email you guys all the info once i receive from developer.

so, who ever interested in bangsar pantai property, kindly email me via:


bangsarproject@gmail.com

please do not pm me, my inbox is full. just drop me an email saying that you interested in which project, together with your phone contact, then i will revert to you once i get the info.

thanks very much.

Passed by again just now and it seems that some activities are still going on around there with 1 bike, 1 excavator and 1 lorry.

Shortlisted Bangsar developers to be revealed next month
By ANGIE NG
angie@thestar.com.my


PETALING JAYA: The names of developers shortlisted to undertake the development of the 20 acres of prime land in Bangsar are expected to be revealed next month.

Permodalan Hartanah Bumiputera (PHB), which owns the land, is believed to be still in the process of shortlisting the candidates based on their project submissions.

Six to eight developers are said to have submitted bids to tender for the development earlier this year.

The candidates have so far made two rounds of presentation on their proposed development plans to the PHB board and independent consultants.

The criteria will be based on potential yields, project concept and design and traffic dispersal system, among others.

The land, formerly a famous landmark housing Lever Brothers' soap and margarine manufacturing plant, has been left unoccupied since Unilever Malaysia moved out in 2003.

Lever Brothers started operations there in 1947 and it was reputed to be the largest factory in the country then; providing jobs for hundreds of Malaysians.

Lever Brothers changed its name to Unilever Holdings Sdn Bhd in 1994. Since moving out, it has been operating at Menara TM in Jalan Pantai Baru, Kuala Lumpur. It also has a food factory in Rawang producing dressings, spreads, seasonings and sauces.

Since it was vacated, a number of developers had expressed interest in the land and were negotiating for a fair value for it.

Industry observers said the land's location was very strategic and would be ideal for an integrated commercial cum residential development.

The land previously belonged to the Railway Asset Corp and came under the ownership of PHB earlier this year.

It is understood that 30% to 40% of the development ratio would comprise residential units, and the rest would be office blocks, a hotel, shopping mall, and shop lots.

The plot ratio will be between six and eight times, and the project is expected to generate a gross development value of RM4bil-RM5bil.

A property valuer said the land could fetch between RM250 and RM300 per sq ft and should be worth between RM250mil and RM300mil.

-- Deleted --

Bangsar + KL Eco City!!!!!Crazy price!!!

UEM Land bagging government land?


By theedgeproperty.com
Monday, 19 December 2011 11:34

UEM Land Holdings Bhd (Dec 16, RM2.26)
Maintain hold at RM2.24 with target price of RM2.02: Rising news flow on government land development awards may lift UEML's near-term share price as it is viewed as one of the front runners. While UEML may benefit from these land wins, some of its existing projects especially in Mont'Kiara, are facing competition from the rising RM15 billion KL Metropolis project.

We maintain our earnings forecasts and RM2.02 target price (40% discount to RM3.37 realisbale net asset value). UEML will be the first property group to be included in FBM KLCI 30 (from today).

We understand that UEML has been shortlisted for the 7.7ha RNAV-accretive Unilever land. The results should be announced by end-2011/early-2012. Given Sunrise Bhd's strong branding and track record in integrated high-rise developments being embedded in the enlarged UEML group post merger, we believe UEML stands a strong chance to clinch the land bid. We estimate a five to seven sen enhancement to our RNAV, if it materialises.

UEML remains confident on the Pudu Jail redevelopment and 1,214ha Rubber Research Institute Malaysia (RRIM) land development in Sungai Buloh, Selangor. We expect the awards to be announced by mid-2012. The securing of these developments (especially RRIM land) would provide a strong impetus to UEML's medium-term earnings and valuation.

We are more upbeat on the Unilever land given: (i) shorter time to complete and lower upfront infrastructure costs compared with the RRIM greenfield land; (ii) lower take-up risks compared with the Pudu Jail redevelopment project which will face stiff competition from surrounding offices/hotels/malls and future government developments like KL International Financial District; and (iii) potential investment by Pelaburan Hartanah Bumiputera Bhd in the Unilever development itself, thereby reducing take-up risks.

We expect increasingly tougher competition in the property market especially the office segment due to massive government land developments. These projects could flush the market with ample supply of varieties, raise take-up/occupancy risks and limit pricing power. We are cautious on UEML's Aurora Tower and Mont'Kiara projects and see pricing as the key success determinant. — Maybank IB Research, Dec 16

http://www.theedgeproperty.com/news-a-views/9031-uem-land-bagging-government-land.html

http://biz.sinchew-i.com/node/55119

有望發展政府地‧UEM置地短期動力可期
分析評論 2011-12-20 19:07
（吉隆坡20日訊）UEM置地（UEMLAND，5148，主板產業組）因有望攫獲政府相關地段發展計劃，短期股價動力可期，但高達150億令吉的吉隆坡大城市計劃蜂擁而至，可能導致該公司部份現有計劃面臨更大競爭。

UEM置地獲圈定為Unilever面積達19英畝地段的領先者，結果將在今年杪或明年初出爐。基於陽光（Sunrise）強健的品牌與整合高檔產業發展的良好紀錄，馬銀行金英相信，UEM置地在攫獲該計劃上具龐大機會，若計劃實現，UEM置地重估淨資產值有望添5至7仙。