Setia Walk, Pusat Bandar Puchong

Setia Walk in Puchong is SP Setia’s first showcase project to mark the company’s entry into the commercial retail sector. It is positioned as a revolutionary and refreshing one-stop boutique lifestyle and retail centre to appeal to trend-conscious clientele.

This is a mixed development consisting of retail blocks, offices, an entertainment complex, and serviced apartments. In essence, this commercial precinct is a hybrid between a shopping mall and shop offices. At the time of launch, this idea was a novelty in the local market. It is spread across 20.8 acres of land in Pusat Bandar Puchong, and consists of several phases. Phase 1 is 85 blocks of 4, 6, and 7-storey shop offices. Altogether, there will be 170 retail units and 336 office units.

The business hotel and entertainment complex at Setia Walk will be the anchors of this development. The entertainment complex will have 300,000 sf that is leasable and will include karaoke lounges (Superstar Karaoke), fitness centre (Celebrity Fitness), and a cinema (TGV Cinemas). Among some tenants that have started operation as of March 2012 are Kenny Rogers Roasters, Sushi Tei, The Beer Factory, Muzeum Pub and Bistro, Brussels Beer Cafe, and Roommates Bar. Other tenants which will operate here are BMS Organics, Be LOHAS Cuisine, Bata, Starbucks, Killineys Kopitiam, among others.

Set on higher ground, the serviced apartments at Setia Walk (Solace, Brio and Vio) are at the rear of the development and overlook the commercial area. There are 3 blocks towering at 27 storeys that consisted of 759 apartment units. These units are priced from RM210,000. There are also 46 SOHO (small office home office) units here. The commercial precinct will also have 24 hour security, 2 level basement parking, pedestrian only walkways, elevators and escalators. Lush landscapes will link the activity areas, and soothing waterways will form the central spine of Setia Walk. These water features include a wading pool, water jets, fountains, water column, cascading waterfall, and sand dunes. Modern sculptures will also be present.

The condo layouts are 845 sf, 1007 sf, 1096 sf and 1396 sf. The smallest unit sizes are 1 + 1 rooms, while the largest unit designs have 3 rooms. As a result, these units will suit residents of all kinds – whether it is a small family, young working professionals, or the ‘mobile’ generation who just need a place to crash as they stay out all the time. All units have car parking bays (between 1 – 3). The latest and last addition to Setia Walk is Trigon Luxury Serviced Apartments @ Setia Walk. Trigon will have 28 storeys and selling prices are from RM600++ psf.

There are 3 main zones in the commercial retail section of Setia Walk. These are the active zone, sanctuary zone, and escape zone. The active zone is children-centric, and is good for play zones, child development centres, and children-related products such as toys. The sanctuary zone is for fine dining, spa, and beauty centres. The escape zone is a more casual area, with alfresco dining, bistros, and cafes planned here. The main access route to Setia Walk is the LDP.

Property Details

Name: Setia Walk
Address: Persiaran Wawasan, Pusat Bandar Puchong, Selangor
Developer: SP Setia
Completion Date: 2012 – 2014 (for the serviced apartments)
Type: Mixed Commercial
Tenure: Freehold
No. of Storey
- Shop-Office: 4, 6, and 7
- Apartment: 27
No. of Units
- Shop-Office: 85
- Serviced Apartment: 946
Land Area: 20.9 acres
Built-up
- Serviced Apartment: 845 – 1,387 sf
- SOHO: 1,500 sf
Launch Price
- Shop-Office: RM2,500,000 – RM8,900,000
- Apartment: RM210,000 – RM1,455,384
- Serviced Apartments: RM291,800 – RM1,020,000
- SOHO: RM563,350 – RM967,860

Facilities

Landscaping
Water features
Wading pool
4,300 car parking bays

Analysis

Setia Walk is situated in Pusat Bandar Puchong, which is within a matured and established township with a population catchment over 250,000. Although Setia Walk is not really a novelty these days, considering other similar style developments such as Mid Valley – The Gardens area, Empire Subang, and so on, it is a new thing for the popular area of Puchong. If you are keen to invest in Setia Walk, the commercial section would certainly be an excellent investment. The offices and retail outlet section of Setia Walk should find excellent tenants such as clinics or consultancy firms, instead of garages and other lower grades of tenants.
The original launch price for the shop offices at Setia Walk are between RM2.5 million to RM8.9 million per block. It was estimated that the rental of these shop offices to be RM15 – RM16 psf, while the entertainment complex area will be RM8 psf. It is foreseen that savvy investors would earn annual rental yields of 10%. The units on the ground and 1st floors will operate as retail outlets, while offices will occupy the upper floors. These shop office blocks are carefully designed to either face the LDP or the internal waterways to provide prime frontage and high visibility for businesses.
The condominium and serviced apartments suit all different types of clientele, ranging from singles to small families. It is convenient as people can walk to work, shop, or eat and drink without having to face the chaos of work. Other than this, the site is set opposite the proposed Ampang Line LRT station ST07. As a result, this complex looks promising – for both investors and would-be residents and tenants of the commercial and residential areas. When the proposed Puchong LRT link does arrive opposite the road of Setia Walk, the prices should definitely rise for both the residential and commercial components. As a result, this is a long-term investment that is set to grow.