JLL has been mandated as one of the joint exclusive agents to market Setapak Central, a 3-storey retail mall located in a growing suburban township of Setapak, northeast Kuala Lumpur. This rare opportunity allows investors to secure an institutional quality retail mall with a resilient income profile. The client, PGIM is looking to exit the retail market in Malaysia entirely, having previously disposed two other retail malls in a three mall portfolio.
The retail mall would offer attractive yields of 7.7%. Currently, it has 98% occupancy rate with approximately 200 tenants in operation. Setapak Central has good connectivity to the city centre via Wangsa Maju LRT station, 15 minutes from KLCC.
- Positioned as family-oriented mall targeting the mass to mid-market segment
- Strong population catchment in a growing middle income township area
- Good connectivity to the city centre via 2 LRT stations (Taman Melati and Wangsa Maju).
- Prominent anchor tenants
- Occupancy rate of 98%
- Net yield of 7.7%