Setia Walk set to transform Puchong
Monday October 1, 2007
By ANGIE NG
An artist's impression of the dining pod at Setia Walk
SETIA Walk, which is SP Setia Bhd's first showcase project to mark the company’s entry into the commercial retail sector, will transform Puchong through its revolutionary lifestyle experience and refreshing retail concept.
Positioned as a one-stop boutique lifestyle centre that appeals to the trend-conscious younger clientele, the integrated residential and commercial development comprises retail blocks, offices, an entertainment complex, service apartments and residential apartments.
SP Setia group managing director and chief executive officer Tan Sri Liew Kee Sin said the commercial precinct is a hybrid between conventional shop offices and a shopping mall.
Although the concept is regarded a novelty in the local market, it is highly popular in western countries, including the United States.
“Rather than settle for the typical row shop offices, we have transformed the project through a combination of imaginative architecture and creative landscaping into a destination place where people can live, learn, work and play,” Liew said, adding that the retail mix would be geared towards creating a hip and happening joint aimed at youngsters.
Phase one will comprise 85 blocks of four, six and seven storey of shop offices offering 170 retail units and 336 office units. The shop offices are priced between RM2.5mil and RM8.9mil a block.
Units on the ground and first floors will be operated as retail lots while the offices will occupy the upper floors.
The shop office blocks are all carefully designed and laid out to either face the Damansara Puchong Expressway (LDP) or the internal waterways, thus providing prime double frontage and high visibility for businesses.
model of Setia Walk
Located on 20.8 acres in the matured township of Pusat Bandar Puchong, the project enjoys good frontage and visibility to the LDP and Jalan Wawasan, the township's main thoroughfare.
At the recent soft launch of the shop offices, 57 units were sold.
Phase two will comprise the hotel, entertainment complex and an office tower. The apartments will be built under phase three.
Liew said with projected rental of RM15 to RM16 per sq ft for the shop offices and RM8 per sq ft for space in the entertainment complex, property owners could expect annual rental yields of 10%.
“While preference would be given to owner occupiers, we are going the extra mile to provide pre-leasing services to match the owners with the right tenants.
“Our dedicated pre-leasing team has identified a list of potential suitors to be matched with the buyers to ensure a vibrant tenancy mix and add value to the entire development,” he added.
For the office space, the company is targeting investors and owner-occupiers such as consultancy firms and clinics.
Explaining the concept of the commercial component, Liew said it would have three main zones - active zone (child development centre, play-zones and children-centric products); sanctuary zone (fine dining, spa and beauty care centres) and the escape zone (ideal for relaxing and unwinding with alfresco dining, cafes and bistro).
The business hotel and entertainment complex will be the anchors on both ends of the commercial precinct. The entertainment complex with over 300,000 sq ft of gross lettable area will have cineplexes, bowling alleys and karaoke lounges.
Liew said the many attractions and experiences would make Setia Walk ideal for families and businesses.
Among the value added features provided for the business operators and customers are round-the-clock security, two-level basement parking, elevator and escalator access and pedestrian-only walkways.
Lush landscaped pedestrian areas will link the activity nodes while soothing waterways complete with children-friendly facilities will form the central spine of Setia Walk.
The water features consist of water jets, fountain, water column, cascading waterfall, sand dunes, wading pool and modern sculptures.
Meanwhile, home seekers in search of a refreshing and unconventional lifestyle should consider the residences at Setia Walk that come complete with facilities.
There are three, 27-storey blocks comprising 759 apartment units that are priced from RM210,000. There are also 46 units of small office home office (Soho).
As the site is just opposite the proposed new light rail transit station for Puchong, the market response for the residential units looks promising.