Northpoint

Northpoint (also known as Mid Valley Northpoint) is one of developer Tan & Tan Developments's many projects. It is positioned at the northern entrance of vibrant Mid Valley City. It is made up of two towers comprising 228 serviced residential units (216 standard, 4 duplex and 8 penthouse units) and 204 office suites. Standard features for the residential suites include air-conditioning, fitted kitchen, hot water supply to the kitchen and bathrooms, and individually controlled air-conditioning system. This mixed development was part of the Phase I development plan, and was completed in June 2006. Mid Valley City is a joint venture project between Dewan Bandaraya Kuala Lumpur and IGB Corporation. It occupies a 20ha site and is an integrated 4-phase urban development undertaken by IGB's wholly-owned subsidiary, Mid Valley City Developments. It is envisioned that by mid-2010, Mid Valley City will become an alternative city center. Its gross development value is more than RM3 billion. Judging by the ongoing development pace, Mid Valley City looks set to meet its targeted completion date. Once completed, Mid Valley City is expected to have a built-up space of approximately 18 million sf. In September 2008, Mid Valley City was granted MSC Malaysia Cybercentre status.

Property Details

Name: Northpoint (also known as Mid Valley Northpoint)

Address: 1 Medan Syed Putra, Kuala Lumpur

Developer: Tan & Tan Developments

Completion Date: June 2006

Type: Condominium & Office

Tenure: Leasehold

No. of Blocks: 2

No. of Units

Condominium: 228

Standard: 216

Duplex: 4

Penthouse: 8

Office: 204

Built-up

Condominium: 1,400 - 1,900 sf

Office: 1,819 - 3,466 sf

Subsale Price:

Rental:

Layouts

Condominium

Type A (1,819 sf)

Type B (1,367 sf)

Type C (1,356 sf)

Type D (1,905 sf)

Duplex (3,380 sf)

Penthouse (2,637 - 3,466 sf)

Facilities

Cleaning / maintenance / maid services

Club house

Convenience store

Covered parking

Fitness center

LAN/Wireless LAN

Launderette

Nursery

Outdoor recreational area

Reception

Sauna / steam bath

Swimming pool

24-hour security

Market Trends

Analysis

For a standard residential unit at Northpoint, the sub-sale price ranges between RM550 and RM650 psf, and can fetch a rental rate of between RM5,000 and RM6,000. For instance, as at end 2008, the average rental for a 1,376 sf 2-bedroom standard unit stood at RM4,500/month, with a selling price tagged at RM798,000, while a 1,816 sf 3+1 standard unit commanded a rental of RM7,500/month and a selling price of RM1.23 mil.For a standard office suite, the subsale price ranges between RM550 and RM600 psf, and can fetch a rental rate of between RM3.80 and RM4.50 psf. For instance, the going rental rate for a 1,900 sf office unit as at May 2009 is approximately RM7,500/month. Northpoint's main selling point must surely be its strategic location in Mid Valley City. It is very conveniently connected to the well-developed infrastructure and comprehensive amenities that this very self-contained city-to-be has to offer. Mid Valley City is sited "mid-point" between the city of Kuala Lumpur (15-minute drive away) and its satellite town, Petaling Jaya. Northpoint is a mere 5-minute drive to the affluent and happening Bangsar neighborhood, which is one of the most popular hangouts for KL's expatriate community. There are also 3 large and well-equipped hospitals close by - two private hospitals (Pantai Hospital and UMMC) and a government hospital (Universiti Hospital).In addition to The Plaza which occupies Northpoint's entire ground floor and which is also home to eateries and shops, this condominium complex is linked by pedestrian bridge to two inter-connected shopping malls, namely the upscale The Gardens Mall and a very large 4.5 million sf mall, Mid Valley Mega,all. One would truly be spoiled for choice for entertainment, upmarket retail and food and beverage outlets here. In addition, there is also a budget business hotel, an exhibition center and prime office space. Mid Valley City is easily accessible by road (including North-Pantai Expressway, North Klang Valley Expressway and Federal Highway), and there is direct rail commuter service by Keretapi Tanah Melayu (KTM) to Mid Valley Megamall. The Mid Valley station is just one short stop away from KL Sentral which is Malaysia's main transportation hub. Another contributing factor to the heavy traffic is its proximity to KL, PJ and Bangsar. Federal Highway, one of the main access roads, is also notorious for its extremely heavy traffic and oft-times unpredictable traffic jams.Ironically, Northpoint's prime location contributes to one of its downsides – KL's infamous traffic jams during peak hours. Come weekday nights, weekends and public holidays especially, Mid Valley Megamall and The Gardens are jam-packed, so be prepared for long queues and often-times bumper-to-bumper traffic that hampers quick and easy access to Northpoint. The traffic gets worst during Jusco Day, an annual event where Jaya Jusco offers big sale to its members.