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Continue Reading ⋅ 14 December 2021
St Mary Residences is inspired by Manhattan’s loft apartments. This cosmopolitan abode offers high-end city dwelling with a garden sanctuary, as its shiny towers share ground with a luscious central park. Jointly developed by esteemed developers E&O Property Development and Lion Group, the development is named after St Mary School which previously occupied the 4.04-acre tract.
The mixed development comprises 3 residentials towers, one of which was operated as E&O Residences, and a boutique retail podium, St Mary Place, which features swanky F&B outlets and retail shops. Conceptually, St Mary Residences evolve around luxurious living lifestyle and convenience, and it is highly popular with working professionals and expatriates due to its prime location in the heart of the Central Business District in Kuala Lumpur.
The first phase of the development was cautiously priced and received a take-up rate of 80% within 4 months of launch. That can be considered a good indication of market acceptability. The second phase was subsequently launched at a 25% premium and achieved a 25% take-up rate within 4 days, with buyers being a mix of local and regional investors who wanted to invest in a slice of the potential development.
Address: Jalan Tengah, 50450 Kuala Lumpur
Developer: E&O Property Development with Lion Group (joint-venture)
Property Type: Condominium
Land Title: Commercial
No. of Towers: 3
Total Units: 657 (Tower A & C – 457 units; Tower B – 200 units)
Tenure: Freehold
Year of Completion: 2012
Built-up Area: 1,130 sq ft – 6,769 sq ft
Facilities:
- Swimming pool
- Wading pool
- Jacuzzi pavilion
- Clubhouse
- Gymnasium
- Fitness centre
- Children’s playground
- Function rooms
- 24-hour security
Launch Price: From RM1,100,000
Launch Price Per Sq Ft:
- Tower C (Phase 1) – RM1,000 per sq ft
- Tower A (Phase 2) – RM1,250 per sq ft
Maintenance Fee: RM0.55 per sq ft
Project Details
St Mary Residences is constructed on the site that was previously St Mary School in Jalan Tengah, Kuala Lumpur. The prime land was secured from the owner, The Synod of the Diocese of West Malaysia, by Lion Group. In exchange, Lion Group was to build a new premise for St Mary School in Selayang, and one of the three towers at the development. This was in tandem with the Kuala Lumpur Structure Plan 2020 initiative to relocate schools in the city to ease traffic congestion.
The freehold land area of 4.04 acres was then jointly developed by boutique developer E&O Property Development and Lion Group as a mixed retail and residential development. With a gross development value (GDV) of RM1 billion, the project was launched for sales in 2009 and fully completed in 2012.
Laid out in a U-shape, the 3 blocks overlook a 1.4-acre manicured central park that is lined with tall trees. A swimming pool with ground deck chairs, jacuzzi pavilions, and greenery, complement the contemporary glass-fitted walkways.
Together, these elements exude the ambience of being in a luxurious resort. Other facilities at St Mary Residences include a clubhouse, glass-vaulted gymnasium and fitness centre, and function rooms.
The spacious and practical units feature large windows, which allow in ambient light and at the same time, offer views of KL city centre, KL Tower, or the private park. Some units benefit from having all three views.
There are ensuite bathrooms for all bedrooms, and units also come with quality fittings and finishing such as engineered wood flooring and white goods like kitchen cabinets, kitchen hob and hood, conventional and microwave ovens, washer and dryer.
The bigger units are also furnished with marble-top kitchen island with integrated waste disposal system, built-in wardrobes and curtain pelmets and for the master bathroom (separate his and hers sinks), bathtub, and marble flooring.
The South Tower (Tower A) has a 2-storey retail podium called St Mary Place, which hosts restaurants, bistros, and other lifestyle amenities. South Tower has 288 residential units and 10 rooftop penthouses, while the East Tower (Tower C) has 169 units, and 6 rooftop penthouses.
Aside the penthouse levels, there are 12 and 8 units per floor respectively, with generous built-ups ranging from 1,130 sq ft to 2,257 sq ft. The regular units offer a choice of single room for the Studio Suite, and 2 and 3 bedrooms for the City and Metro Suites.
The 200-unit West Tower (Tower B) belonging to the church was subsequently operated as E&O Residences. Unfortunately, the serviced apartment suites ceased operations in September 2020 due to economic challenges and uncertainty.
|
Unit Types |
Built-Up |
Launch Price |
|
Studio Suite |
· 1,130 sq ft · 1 bedroom · 2 bathrooms |
From 1,100,000 |
|
City Suite Type B1 |
· 1,444 sq ft · 2 + 1 rooms · 3 bathrooms |
|
|
City Suite Type B2 |
· 1,614 sq ft · 2 + 1 rooms · 3 bathrooms |
|
|
City Suite Type B3 |
· 1,732 sq ft · 2 + 1 rooms · 3 bathrooms |
|
|
City Suite Type B4 |
· 1,560 sq ft · 2 + 1 rooms · 3 bathrooms |
|
|
Metro Suite Type A2 |
· 2,257 sq ft (2249) · 3 + 1 rooms · 5 bathrooms |
|
|
Rooftop Penthouse Type C1 |
· 4,122 sq ft · 3 + 2 rooms · Private pool |
|
|
Rooftop Penthouse Type D1 |
· 6,759 sq ft · 4 + 2 rooms · Private pool |
Location
St Mary Residences is located in the heart of the Golden Triangle in Kuala Lumpur city centre. It is wedged in between Jalan Raja Chulan and Jalan Sultan Ismail, and adjacent to Jalan P. Ramlee. This urban sanctuary in the central business district of Kuala Lumpur is surrounded by high-rise office buildings, hotels, and major retail complexes, which are all accessible by foot.
Suria KLCC, Pavillion Kuala Lumpur, Starhill Gallery, Lot 10 Shopping Centre, Farenheit88, and The Weld Shopping Centre, are some of the shopping complexes within a short and walkable radius from St Mary Residences. Night spots and entertainment options are also aplenty, and there is certainly no shortage of food variety from the rows of hawkers in Jalan Alor and the many nooks and crannies in the city, all the way up to fine dining.
St Mary Residences is also sandwiched between the green lungs of KL Forest Eco Park, one of the oldest permanent forest reserves in Kuala Lumpur, and KLCC Park, a 50-acre urban park complete with a 2-acre children’s playground, wading pool, and bitumen jogging track.
For public transportation, the Raja Chulan MRT Station is 450m away, while the Dang Wang LRT Station on the Kelana Jaya Line is slightly further off, 1.1km away. For connectivity to other parts of the city, residents can also hop on the free shuttle bus called Go KL City Bus. The nearest stop is a short walk to and from St Mary Residences at The Weld on Jalan Raja Chulan.
Accessibility
- Jalan Sultan Ismail
- Jalan P. Ramlee
- Raja Chulan Monorail Station (MR7)
- Bukit Nanas Monorail Station (MR8)
- Dang Wangi LRT Station
- Go KL City Bus (Free shuttle bus service)
Education
- SMK Convent Bukit Nanas
- St John’s International School
- Wesley Methodist School Kuala Lumpur
- INTI International College Kuala Lumpu
Medical Care
- Tung Shin Hospital
- Prince Court Medical Centre
- Gleneagles Hospital Kuala Lumpur
Shopping
- The Weld
- Suria KLCC
- Pavillion Kuala Lumpur
- Fahrenheit 88
- Starhill Gallery
- Sungai Wang Plaza
- Plaza Low Yat
- Bukit Bintang Shopping Centre
Recreation
- KLCC Park
- Aquaria KLCC
- KL Forest Eco Park (previously known as Bukit Nanas Forest Reserve)
- Royal Selangor Club
- Royal Selangor Golf Club
Analysis
Eastern & Oriental Bhd (E&O) is reputed to be a premier lifestyle property developer that often merge innovation with elegance. Therefore, St Mary Residences is no exception. It offers modern lifestyle living in the form of urban chic suites, with a garden sanctuary in the heart of the Kuala Lumpur central business district. So, it is not surprising that St Mary Residences was well received by investors locally and across the region.
St Mary Residences is a popular choice for families, working professionals, and expatriates, as it is within walking distance from the vast amenities and offices in the Golden Triangle. Due to its cautious pricing in the early economic recovery phase in 2009, St Mary Residences’ investors have benefited from its capital appreciation.
While one would expect noise to be an issue due to its location, units generally enjoy the quiet as St Mary Residences is tucked slightly further away from the 3 major roads of the Golden Triangle. Plus, St Mary Residences is built on fairly large grounds, thus buffering the towers and making them somewhat secluded in the heart of the city.
The entrance into St Mary Residences is on Jalan Tengah, which is accessible only via Jalan Sultan Ismail due to the flow of traffic. As such, getting in and out of the residences by car can be frustrating especially during peak hours due to heavy traffic in the surrounding area. Getting around on foot or via public transportation would be a better option, but the tropical and often unpredictable weather can be a deterrent.
Here’s a quick look at residential properties in the Kuala Lumpur central business district area.
|
Project |
Land Tenure |
Project Type |
Completion |
Built-up |
Approximate Launch Price |
|
St Mary Residences by E&O Property & Lion Group |
Freehold |
Serviced Residence |
2012 |
1,130 sq ft – 6,769 sq ft |
From RM1,100,000 |
|
Leasehold |
Condominium |
2009 |
1,057 sq ft – 17,718 sq ft |
From RM900 psf |
|
|
Sixceylon Condominium by Bolton Bhd |
Freehold |
Condominium |
2013 |
696 sq ft – 1,555 sq ft |
RM560,000 -RM1,250,000 |
|
Banyan Tree @ Pavillion by Pavillion Group |
Freehold |
Serviced Residence |
2015 |
1,076 sq ft – 2,195 sq ft |
From RM2,151,000 |
|
Freehold |
Serviced Residence |
2017 |
510 sq ft – 1,293 sq ft |
RM949,500 – RM3,765,000 |
|
|
Freehold |
Serviced Residence |
2018 |
718 sq ft – 1,254 sq ft |
RM3,000 per sq ft |
|
|
Dorsett Residences Bukit Bintang by Far East Consortium International Limited |
Freehold |
Serviced Apartment |
2018 |
652 sq ft – 1,331 sq ft |
From RM1.25 million |
|
Impression U-Thant by Yong Tai |
Freehold |
Condominium |
2021 |
782 sq ft – 1,632 sq ft (dual-key) |
From RM1.38 million |
|
Freehold |
Serviced Residence |
2021 |
680 sq ft – 3,080 sq ft |
From RM1.18 million |
Summary
Favoured for its prime city location coupled with exclusive abodes, St Mary Residences is synonymous with exclusive living standards in the heart of the city.
It is surrounded by and closely located to corporate towers and retail hubs, Malaysian icons Petronas Twin Towers and KL Tower, the green lung of KL Forest Eco Park as well as a vast array of restaurants, bistros, cafes and food stalls.
So, St Mary Residences have a lot going for it, and it has much to offer too. With its stunning grounds mirroring E&O’s signature style, it is easy to forget that the concrete jungle of Kuala Lumpur is just outside of St Mary Residences.
Listings for a 2+1 bedroom City Suite with a built-up of 1,560 sq ft on PropertyGuru.com.my hovers around RM1,800,000, while asking rental for a similar unit is in the range of RM5,000 per month.
Here are estimated loan figures for a St Mary Residences unit priced at RM1,800,000.
- LTV / margin of finance: 90%
- Down payment (10%): RM180,000
- Loan amount: RM1,620,000
- Loan term: 30 years
- Interest rate: 3.2%
- Monthly repayment: RM7,006
- Approximate required gross annual income: RM281,000*
These calculations are based on the PropertyGuru Home Loan Calculator, as well as PropertyGuru’s Home Loan Eligibility and Affordability Calculator.
If you’re interested in calculating Debt Service Ratio (DSR), you may refer to the PropertyGuru Home Loan Pre-Approval tool. It is FREE to use and helps you avoid loan rejections. It has a 99.9% accuracy so you can be sure of home loan approval!
* Assumptions: You have no other monthly debt obligations, and 30% of gross income will be spent on the housing loan. As a rule of thumb, banks usually loan up to 30% of your gross annual income.
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