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Reply to topic WTS: KRPM Individual Membership (RM40k)

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WTS: KRPM Individual Membership (RM40k)
lam861
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MYGOLF
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http://www.krpm.com.my/membership.html

if buy from club RM50k. I am a direct seller for RM40k & I'll pay the transfer fees.

However you'll pay for the deposit yourself.

Contact Lamb Lim @lam861@hotmail.com or 0126945233.
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ginn
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Sounds pricey at RM40k. just my opinion. perhaps it is worth that much now...
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lam861
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Ginn,

This 36-holes golf course spreads over 279 acres of land. Ya, the official price is RM50k. You can see from the below link Cool

http://www.krpm.com.my/membership.html

And you will be more surprised that > 4 thousands member refused to let go @RM50k as per below link Very Happy

http://forum.lowyat.net/index.php?showtopic=2541926&view=findpost&p=55686066
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ginn
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I would agree with you but I think 2 or 3 of my friends bought it at about RM12k if I am not mistaken. This happened before 2000 I think. That is why I said I might be wrong.
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magic
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ginn wrote:
I would agree with you but I think 2 or 3 of my friends bought it at about RM12k if I am not mistaken. This happened before 2000 I think. That is why I said I might be wrong.


It used to be very cheap at 1 time. Recently, the price is gone up very fast....
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hschiew
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they refused to let go because the members know its worth 120k per member if they were to let go to the developer.
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hklam
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Lets do some simple arithmatic calculation: 294 acres of freehold agriculture/development land in Sg Buloh (Klang Valley), what is it worth?

294 acres x 43,560 sq ft/acre x RM50/sq ft (on a very conservative estimate, value can easily be more) = RM640,332,000

This amount divided over say 4,200 members = RM152,460 (at the very least).

Why should the members sell when they can continue to use the club & golfing facilities, and the value will only continue to grow overtime, 10-12 years ago value was only RM12 - 15k, now >RM150k, in 10 years time it will probably go to RM1.5mil (from past trend) and will continue to appreciate according to real estate appreciation factor (property appreciation - inflationary proof).

So, in 10 years time, a golfer at KRPM would have improved his or her handicap, and would have enjoyed using & playing many hundreds or thousand rounds at the golf course, and yet enjoy further appreciation value in its membership. Not too bad! Laughing

Rgds,
hklam

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magic
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is the course still as soggy after the rain?
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sanfan
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Magic wrote:
is the course still as soggy after the rain?


I heard they are looking to upgrade the course next year. Hope it's true.

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geraldsaw
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hklam wrote:
Lets do some simple arithmatic calculation: 294 acres of freehold agriculture/development land in Sg Buloh (Klang Valley), what is it worth?

294 acres x 43,560 sq ft/acre x RM50/sq ft (on a very conservative estimate, value can easily be more) = RM640,332,000

This amount divided over say 4,200 members = RM152,460 (at the very least).

Why should the members sell when they can continue to use the club & golfing facilities, and the value will only continue to grow overtime, 10-12 years ago value was only RM12 - 15k, now >RM150k, in 10 years time it will probably go to RM1.5mil (from past trend) and will continue to appreciate according to real estate appreciation factor (property appreciation - inflationary proof).

So, in 10 years time, a golfer at KRPM would have improved his or her handicap, and would have enjoyed using & playing many hundreds or thousand rounds at the golf course, and yet enjoy further appreciation value in its membership. Not too bad! Laughing

Rgds,
hklam


just to add in 2 cents more:
dijaya bought kajang hills for 228 mil which is 18 holes. KRP is 36 holes therefore value at rough estimate is 228 x 2 = 456 mil. moreover kajang hills is not not prime KL location. KRP is prime location plus with the MRT being built it should attract more premium pricing. moreover KRP is a members club - last agm members were able to defeat a proposal to raise monthly subs. becuz only at KRP members are owners too.
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cschong
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As a member of KRPM, majority opt not for sales the GC for others development purpose, just after the recent EGM, we could notice the voice & will of the members. As what I was told, the price per sq feet in 10 years ago was about RM80, what will be the price of today?

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hklam
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Magic wrote:
is the course still as soggy after the rain?


Only certain holes, most cases the plugged ball can be recovered quite easily. Other than that, the course is usually in good condition, especially the greens which is immaculate for a club with such heavy traffic day in day out.

Rgds,
hklam

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KZG2001
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geraldsaw wrote:
hklam wrote:
Lets do some simple arithmatic calculation: 294 acres of freehold agriculture/development land in Sg Buloh (Klang Valley), what is it worth?

294 acres x 43,560 sq ft/acre x RM50/sq ft (on a very conservative estimate, value can easily be more) = RM640,332,000

This amount divided over say 4,200 members = RM152,460 (at the very least).

Why should the members sell when they can continue to use the club & golfing facilities, and the value will only continue to grow overtime, 10-12 years ago value was only RM12 - 15k, now >RM150k, in 10 years time it will probably go to RM1.5mil (from past trend) and will continue to appreciate according to real estate appreciation factor (property appreciation - inflationary proof).

So, in 10 years time, a golfer at KRPM would have improved his or her handicap, and would have enjoyed using & playing many hundreds or thousand rounds at the golf course, and yet enjoy further appreciation value in its membership. Not too bad! Laughing

Rgds,
hklam


just to add in 2 cents more:
dijaya bought kajang hills for 228 mil which is 18 holes. KRP is 36 holes therefore value at rough estimate is 228 x 2 = 456 mil. moreover kajang hills is not not prime KL location. KRP is prime location plus with the MRT being built it should attract more premium pricing. moreover KRP is a members club - last agm members were able to defeat a proposal to raise monthly subs. becuz only at KRP members are owners too.


I don't understand why you guys are calculating in that manner.

Correct me if I'm wrong:

my understanding of a "members club" is that the clubhouse, the course and the daily operations of the club is owned and undertaken by the members. Whether the club makes or breaks is solely the responsibility of the members.

The members do not own the land that the club and course occupy. Am I right? Does it state anywhere in the membership agreement that you as a member are entitled to a piece of the land? If it does then the membership at KRP is a bloody good deal.

Otherwise all the calculations and speculations are a fools wish.

Consider this: If the land is owned by someone else or even by the founder members (under a company, maybe?), that land would be leased to KRP for X number of years. Usually these kind of lease would have a "get out" clause or notice period clause to terminate the agreement.

So if the owner decides to sell the entire land to DIJAYA for example, then DiJaya has every right to exercise their right to give the required notice period to KRP and take the land back, effective closing the club. There's nothing the members can do, regardless of the number of times you shout that it's a members club! And you definitely not going to get back RM40K for a membership that you bought at 12K.
Obviously, this is a moot point if the members indeed have a share of the land. Smile

Is my assumptions correct or totally off base?
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ST
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It's hard to believe ya? But it's true, members own the land too
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KZG2001
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ST wrote:
It's hard to believe ya? But it's true, members own the land too


Seriously? If it's in black and white in the agreement then that's a bloody good deal. I might be interested as well.
Any idea, what's the yearly members intake like?
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WTS: KRPM Individual Membership (RM40k)
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