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Tuesday, May 17, 2011

Rhythm Avenue, UEP Subang Jaya

Property Details
Name: Rhythm Avenue
Address: USJ 19, Subang Jaya, Selangor
Developer: Sanjung Utama
Completion Date: 2008
Type: Condominium
Tenure: Freehold
No. of Blocks: 4
No. of Units: 1,036
Built-up: 558 – 1,308 sf
Launch Price: RM80,000 – RM170,000
Subsale Price: RM200,000 – RM600,000 (RM350 – RM500 psf)

Facilities
Maintenance service, Swimming pool, Jacuzzi, Multipurpose court for sport activities,
Gymnasium, Squash court, Sauna, 24-hr security, BBQ pit, Restaurants and cafes



Rhythm Avenue, UEP Subang Jaya

Rhythm Avenue is a serviced apartment located in USJ 19, UEP Subang Jaya. It is part of an integrated development that comprises 3 blocks of serviced condominium and a 20-storey office tower.

Rhythm Avenue is equipped with a host of amenities, such as Subang Jaya Medical Centre, Sunway Medical Centre, Grand Dorsett Hotel, Holiday Villa Hotel, Sunway Lagoon Water Theme Park, Sunway Pyramid, Subang Parade, Empire Subang, Giant, Mydin and Carrefour. All these are within 15 minutes drive without traffic congestion along Persiaran Kewajipan.

For education, there are a few government, private and international schools in USJ. Within 5 minutes drive, there is Taipan, a vibrant commercial area in USJ 10.

Rhythm Avenue is accesible via Federal Highway, Kesas Expressway, Lebuhraya Damansara-Puchong (LDP), New Pantai Expressway (NPE) and North-Klang Valley Expressway (NKVE). Further up along Persiaran Kewajipan, there is a Komuter train station for those who require public transport to other parts of Selangor.

Rhythm Avenue is integrated with 3 floors of shopping space. There is Rhythm Walk which is an open air dining and entertainment boulevard. The 19 USJ City Mall is located below the serviced aparment. The main tenant of the shopping mall is Carrefour. Hence, residents don’t have hassle in the traffic congestion to buy groceries in USJ.




Analysis from http://www.propwall.my/



Rhythm Avenue was originally developed by Sanjung Utama, but due to economic crisis in 1997, Sanjung Utama went bankrupt. The result of this is Rhythm Avenue was abandoned. It was abandoned for 6 to 7 years until two years ago another developer took over the project. The receiver of Rhythm Avenue is PricewaterhouseCoopers developer.


According to special assistant of Subang Jaya assemblyman, Yap Yun Fatt, Rhythm Avenue is able to be revived due to AmBank contributions by using their own funds, which involved RM80 millions. Furthermore, AmBank did not sell the project to another developer or else previous purchasers would have lost their rights on the units they had bought. Purchasers feel grateful that AmBank stands on humanitarian grounds.


It was a headache for buyers of Rhythm Avenue, as buyers are required to service their loans from banks even when the project was abandoned for many years. Moreover, some banks where the purchasers loan their money from will not waive loan interest despite Bank Negara issued letter for banks to do so. However, Rhythm Avenue purchasers were luckier than buyers of Newgate Apartment which is also abandoned by Sanjung Utama.


Even though purchasers can breathe a sign of relive after long years of disappointment, purchasers have to endure the fact that there will be no parking space for each unit just as promised by previous developer, Sanjung Utama. The owners have to pay parking fee monthly for as long they are staying there. At first the developer imposed RM50, however this was objected by purchasers. Then, the fee was dropped to RM40 and waiting feedback from purchasers as in September 2008.

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