Damansara Uptown Shoplot Sells 28% Above Reserve at Auction
A three-and-a-half-storey shoplot in Damansara Uptown, Petaling Jaya, home to a well-known nasi lemak and fried chicken restaurant, has sold at auction for RM6.8 million against a reserve price of RM5.3 million. According to The Edge Malaysia, which discussed the sale in its Capital section for the week of 12 to 18 October 2026, about 14 bidders turned up and pushed the price RM1.5 million above the reserve, a premium of roughly 28%.
The Edge did not name the restaurant, but the details match the property SAYS reported on in August: a freehold shoplot on Jalan SS 21/37, Damansara Utama, rented by Village Park and listed with the same RM5.3 million reserve and an auction date of 1 October. SAYS said the sale was initiated by a bank after a court order, and that the title was still registered under a deceased couple whose estate had not yet been transferred to their heirs.
Why this sale stands out
Most bank auctions in Malaysia do not look like this. According to BidNest's market report, which covers 9,205 resolved auctions, 51.3% of winning bids were exactly equal to the reserve price and the median premium above reserve was 0%. Shop offices are also a harder sell than most property types in that data, with a clearance rate of 31.8%. BidNest's sold-price records show that only 37.5% of shop office lots sold above reserve over the last 12 months.
So a 28% premium with a crowded room is the exception. The Edge's columnist put it simply: the final price reflected what bidders would pay for the mix of location, income potential, tenant profile and scarcity. An established food business on the ground floor of a busy, freehold commercial street in Petaling Jaya ticks almost every box, and that is rare in the auction lists.
What it means for shop office auction buyers
Prime lots get priced by the market, not by the reserve. When a shop office has a strong tenant and a scarce location, expect the reserve to be a starting point. Set your ceiling from rental yield and comparable sales before the auction, and stick to it.
A discount is only useful if the property works. The same column warned that a low reserve helps only if you can rent the unit out and hold it through a soft patch; otherwise it is "just a discount on a headache". It also pointed out that a reserve usually falls by around 10% after a failed auction, and that repeated auctions of units in one development can signal weak resale demand or excess supply.
Check the tenancy and the title position. A sitting tenant can be an asset or a problem depending on the lease terms and whether vacant possession is offered. In this case the title was still under deceased owners, which is a reminder to read the proclamation of sale and conditions carefully and have your lawyer review them. This is general information, not legal advice.
Practical steps before you bid
- Shortlist from the current shop office auction listings and the Petaling Jaya page, then visit each street at different times of day to judge footfall.
- Compare the reserve with recent sold prices, not just asking prices.
- Confirm the deposit, the payment deadline and any tenancy or possession terms in the conditions of sale.
- Arrange financing or funds in advance so a higher-than-expected winning bid does not leave you short.
- Decide your maximum bid in writing before auction day. Our lelong guide explains the full bidding process.
If you are looking at a shop office or commercial lot at auction in the Klang Valley, contact Peter Tan, Real Estate Negotiator (REN 12771) with CID Realtors Sdn Bhd, to talk it through.
Sources
- Coffee Break: A nasi lemak shop and the realities of property auction, The Edge Malaysia, 12 October 2026
- Shop Rented By Village Park To Be Auctioned With RM5.3 Million Starting Price, SAYS, 24 August 2026
- BidNest auction market report
Speak to Peter Tan for the latest auction details, reserve price and bidding process.