The Mayfair

The Mayfair (also known as The Mayfair Penang) is a luxury condominium in Penang, which was completed in 2007. This high rise development is a collaboration between Dolphin Square (a wholly-owned subsidiary of Leader Universal Holdings) and Applied Construction & Engineering (a subsidiary of Singapore's United Engineers Ltd). The Mayfair is located along Jalan Sultan Ahmad Shah, or better known as Northam Road in Georgetown Penang. Northam Road is also popularly known as Penang's "Millionaire's Row" as stately and majestic European-style bungalows were once home to the rich sons of the island. Nestled on a 1.6 acre freehold plot of land, the 29-storey condo houses 49 units with built up areas of more than 5,000 sf per unit. This low-density condo is easily accessible via major roads in Penang namely Kelawei Road, Persiaran Gurney, Burma Road, and Peel Avenue. The Mayfair is a few minutes walking distance away from restaurants, café, hotels, offices, banks, hospital (Gleneagles Medical Center), school (S.K. Wellesley), institution of higher learning (Wawasan Open University) and many other public amenities.The Mayfair has a unique heritage front entrance and lobby. Other than that, the whole of its third floor is devoted to hotel standard facilities. It also has four levels of basement car park and an infinity swimming pool located on the 14th floor of the condo building.

Property Details

Name: The Mayfair (also known as The Mayfair Penang)

Address: Jalan Sultan Ahmad Shah, Georgetown, Penang

Developer: Collaboration between Dolphin Square and Applied Construction & Engineering (M)

Completion Date: 2007

Type: Condominium

Tenure: Freehold

No. of Blocks: 1

No. of Storey: 29

No. of Units: 49

Subsale Price:

Rental:

Layouts

Type A (5,209 sf)

Type B (5,049 sf)

Penthouse (10,495 sf)

Facilities

24-hour security

Swimming pool

Spa pool

Children's pool

Lounge

Gymnasium

Tennis court

Table tennis room

Squash

Badminton court

Basketball court

Private lift

Covered car park

Landscaped garden

Community hall

Conference room

BBQ area

Market Trends

Analysis

As The Mayfair has a unique heritage front entrance and lobby, this condo is easily noticeable when one travels along Northam Road. The developer has adopted a mixture of both heritage and contemporary building designs which makes The Mayfair different from many other high rise developments. Furthermore, its color combination is certainly another point which adds to the condo’s class.The Mayfair may be located along the "Millionaire's Row" which is deemed to be a famous place to stay among the rich back then. However, this road has now become a popular spot for commercial purposes as there are more corporate towers / offices along this road than residential buildings. So, heavy traffic flow is a common issue at Northam Road, particularly on weekdays. Other than that, the whole road and surrounding areas are also quite dark during night time. Thus, it may be dangerous for property owners to drive along this road on late nights. Residents at The Mayfair enjoy absolute privacy as there are only 2 units per floor and each unit comes with a private lift. Apart from that, the privacy of each room at every unit is also taken care of as the rooms come with en suite bathroom. Security wise, The Mayfair has state-of-the-art security systems which includes security check at guardhouse, security parking, card-accessed private lift, intercom and CCTV at major locations within the condo. As there are no vacant lands available next to The Mayfair, property owners need not worry about future developments which could possibly block the luxury condo's panoramic view of Penang Island as well as the sea view. As for the layout plan, the Mayfair's gross built-up area for each unit is inclusive of between 195 and 245 sf of accessory parcel. This accessory parcel has certainly given an extra space to the already-spacious units. Pricing wise, The Mayfair seems to have a higher subsale price as compared to other luxury condos in the nearby areas. Most of such luxury condos are priced from RM1.5 mil onwards but the Mayfair is priced from RM2.3 mil onwards. However, its monthly rental rate is almost similar to that of other condos around the same area. With hotel standard facilities, absolute privacy, private lift, en suite bathrooms in each room, unique building design, some may think that the current value of The Mayfair is worthwhile. If one were to compare the facilities and layouts, The Mayfair may not be of much difference with other high rise residential developments. Some buyers would possibly prefer purchasing other luxury condos of lower value, but comes with the same package as The Mayfair. Nevertheless, this condo is surely one of its kind along the prestigious "Millionaire's Row" and this could possibly be the reason why it is fetching such a high subsale price.