Streetscapes: Shoplots in demand on bustling street in Taman Paramount, PJ

This article first appeared in City & Country, The Edge Malaysia Weekly, on October 25, 2021 - October 31, 2021.
The shops on Jalan 20/16 have recorded high occupancy rates (Photo by Shahrin Yahya/The Edge)

The shops on Jalan 20/16 have recorded high occupancy rates (Photo by Shahrin Yahya/The Edge)

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Jalan 20/16 is one of the busiest streets in Taman Paramount’s commercial area in Petaling Jaya. It comprises a row of 2-storey shopoffices on one side of the road. The other side is lined with roadside food stalls as well as a Star Grocer supermarket, post office and an open-air carpark.

CCO & Associates (KL) Sdn Bhd director Chan Wai Seen says that Jalan 20/16 was converted into a one-way street to accommodate more car parking lots on both sides of the road.

“This street offers a wide range of food and beverage outlets, from food stalls to proper restaurants,” says Chan.

This stretch is home to a good number of Chinese restaurants such as Fatty Gan Bak Kut Tea, Restoran Yuen Kee Home Town Café, Restoran Kong Sai, Restoran Ping Wah, Restoran Paramount Sengfatt and Restoran Paramount 86. There are also trendier cafés and dining establishments such as Hide & Seek Coffee, Get Baked and Chipta 11A Curated Dining.

Besides F&B, this street is also home to essentials and services, including a 7-Eleven, tailor, aquarium and pet shops, dental clinics, electrical and lighting shops and offices.

The residential area in the immediate surroundings of the shops comprises 1- and 2-storey terraced houses
priced from RM650,000 to RM900,000 (Photo by Shahrin Yahya/The Edge)

(Photo by Shahrin Yahya/The Edge

“Generally, the shops located along this street are operated by locals. 7-Eleven and Pos Malaysia are the few retail chains here,” says Chan.

In terms of property transactions, he notes that this stretch has seen a limited number of transactions in the past few years. “This is an old commercial scheme in Petaling Jaya. Most owners retain the shops for recurring rental income or to run their own businesses.

“Generally, there have been no recent transactions. We believe that prices of the 2-storey shopoffices are around RM2 million,” he says.

Chan also notes that the shoplots along Jalan 20/16 have recorded high occupancy rates and are in demand. “It is an established and mature commercial area … Some businesses may have been affected by the Covid-19 outbreak, but we expect the vacant shops will be filled soon when the market improves.”

Rents for the ground floor shops are in the region of RM3 to RM3.50 psf per month, according to Chan.

As for the residential landscape in the immediate surroundings, he notes that the 1-storey terraced houses with a land area of 1,600 to 1,875 sq ft and built-up area of around 1,250 sq ft have been transacted at between RM650,000 and RM720,000, compared with RM800,000 to RM900,000 for the 2-storey terraced houses.