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Saturday, April 30, 2016
Arena Curve Shoplot | Commercial Property For Rent / Sale
Friday, March 18, 2016
Case Study | Suria KLCC | Court Strikes Out BritishIndia Suit
Clothing company loses bid to challenge eviction from Suria KLCC
- The Star Malaysia
- March 18, 2016
Suria KLCC
KUALA LUMPUR: Home-grown fashion brand BritishIndia may be required to pay nearly RM7mil in rent, after failing in its bid to challenge its eviction from Suria KLCC [Suria Kuala Lumpur City Centre].
The High Court dismissed a suit by the boutique's owner BTC Clothier Sdn Bhd to continue operating in the prime location, finding that the termination of its tenancy was legal.
High Court judge Justice Nor Bee Ariffin ruled in favour of defendant Suria KLCC Sdn Bhd, saying the clothing company had breached its terms of tenancy by not vacating the premises after the mall chose not to renew its tenancy past July 2014.
The judge also allowed Suria KLCC's counter claim – to be paid double-rental for the 20 months BritishIndia continued to operate.
According to court papers sighted by The Star, the rent for BritishIndia’s store at Lots 111A & 111B on the first floor was RM151,679 a month as of 2014.
Suria KLCC’s lead counsel Tan Sri Cecil Abraham told the court that by his calculations, his client was owed around RM6.7mil in back-rental.
The court also ordered payment of 5% interest per annum on the amount, plus RM100,000 in costs.
BTC Clothier's lawyer Khong Jo Ee was denied her verbal application for a stay of execution pending an appeal of the decision, and was instructed to submit a written application instead.
The tenancy battle began in May 28, 2014, when the mall management informed that it did not intend to renew BritishIndia's tenancy, and subsequently sent a letter of termination dated July 4.
BTC Clothier fired back with a suit on July 7, seeking a declaration that a tenancy subsists between the company and KLCC, and that KLCC had unlawfully terminated the tenancy agreement.
It also claimed Suria KLCC ordered that BritishIndia unconditionally accept the terms of offer to relocate to the second floor or have its premises boarded up.
The clothing company was one of the original tenants, renting the premises for 16 years.
In its counter claim, Suria KLCC stated that their tenancy agreement, which expired on June 30 2014, gave BritishIndia no option to renew.
It contended that since the tenancy had expired, there was nothing unlawful about boarding up the space and it was BritishIndia that had failed to yield vacant possession of the premises.
Suria KLCC claimed it had no desire to keep BritishIndia as a tenant, and that the offer to relocate was merely to give it an opportunity to continue doing business.
Source | The Star
Boldly go. LLAP
Saturday, March 5, 2016
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Wednesday, March 2, 2016
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Monday, February 29, 2016
Padang Serai | Kulim | Kedah | Land For Sale
Padang Serai is in the southern part of Kedah is in Kulim district, Kedah, Malaysia. The town is located between Kuala Ketil and Lunas.
Padang Serai is surrounded by oil palm and rubber plantations and the nearby Kulim High-tech Industrial Zone (KHTP) which is 10km away has 56 percent Malay, 23 percent Indians and 12 percent Chinese voters.
Mix development in progress in the vicinity of Kulim International Airport (KXP), Kedah. The yet to build Kulim International Airport (KXP) is about 1km away from Padang Serai with estimated cost of RM1.6bil. The costs included land acquisition, the building of basic infrastructure of the airport and two runways.
There are few villages such as Kg Teluk Binu, Kg Sidam Kanan, Kg Sentosa, Permatang Durian and some estates like Ladang Bukit Selarong, Ladang Nagalilit. Labu Besar is 20km away.
Padang Serai is famous with its "Pekan Sehari Ahad" or Sunday's Market. Padang Serai is a fast expanding town with the mushrooming of many new housing estates.
Source | Wikipedia
With the new housing estates been mushroomed, the demand of flat land in the district of Padang Serai is getting sought after by developers and investors with reasonable price.
A piece of land currently consists of oil palm and rubber estate is up for sale. The subjected land is about 30 hectares with access from main road of Padang Serai and rectangular in shape.