Centrio Avenue

Centrio Avenue is a low medium cost apartment which was developed by the Boon Siew Group. This is part of the Penang project to provide medium low cost homes for their subjects which they have done very well. The apartment is freehold and is more or less fully sold out with many people still in the queue. It is located at the foothills of Bukit Gambier, and is due for completion at the end of this year of 2013. Centrio Avenue offers 2 blocks of units, and each unit is 31 storeys tall. There are a total of 780 units which places it at approximately 12 units to a floor which is very reasonable considering that this is supposed to be a medium low cost apartment. Prices for units come for as low as RM72,500 and whereby units on certain floors are slightly more expensive at approximately RM118,000 either way. Each unit is 650 sf big and comes with 3 bedrooms and 2 bathrooms, maintenance fees are projected to be approximately RM100.The units come bare without any furnishings, however the developer does not stinge on quality in spite of the extremely low price tag. Centrio Avenue's kitchen floors are tiled as are the toilet and living room floors. Each unit also comes with a parking lot. The main door will be made of wood and the windows consists of aluminium sliding windows. Some of the units will even be fortunate enough to have a forest view. It is different from other medium low cost homes where there are no facilities provided. Here residents may not get a swimming pool due the high maintenance cost, however they will still have a gymnasium, barbecue pits, a playground and a park for family moments. 24-hour security is also provided for the residents. Residents here will have a choice of shopping at Tesco or Queensbay Mall, and parents need not worry about having to send their children to far from home for education as there are primary and secondary schools in the area as well. Eateries are aplenty in the area and institutions of higher education here include USM and Inti College. It is accessible via Jalan Permai which is connected to the main road of Jalan Bukit Gambier which in turn connects to Jalan Yeap Chor Ee. It is also located close to the Jelutong Expressway and the Coastal Expressway placing residents strategically close to the city of Georgetown as well as the bridge to the mainland.

Property Details

Name: Centrio Avenue

Address: Bukit Gambier, 10470 Gelugor, Penang

Developer: Boon Siew Group

Completion Date: 2013

Type: Apartment

Tenure: Freehold

No. of Blocks: 2

No. of Storey: 31

No. of Units: 780

No. of Bedrooms: 3

No. of Bathrooms: 2

Built-up: 650 sf

Maintenance Fee: RM100

Launch Price: From RM72,000

Facilities

Gymnasium

Barbecue pits

Playground

Park

Covered parking

24-hour security

Analysis

The Boon Siew Group is a leading developer in the northern part of Malaysia in Penang. They not only cater to the higher income group with residences like Silverdale and Minden Residence, but also to the lower income group by collaborating with the state government of Penang to produce affordable homes for the less fortunate as well. Bukit Gambier is a beautiful place to live in, although traffic can be a pain in the neck and other unmentionable places as well during peak hours especially on the Jalan Bukit Gambier cum Yeap Chor Ee road which is heavily travelled by the residents of the already highly populated residential areas of Bukit Gambier. The fortunate 780 people who managed to obtain a unit in Centrio Avenue should be extremely pleased as Bukit Gambier is known to be a prestigious area with homes like Vista Gambier and Raffles Tower neighbouring their homes. It should be mentioned that the Penang state government truly takes care of their people by giving them affordable homes in nice areas instead of outback areas just because they are paying minimum prices. Centrio Avenue would truly be a wonderful place to buy as an investment considering the extremely low price it is going for; however it would also be considered highly unethical as these homes are meant for the lower income group, not the leeches and sharks. As a permanent home this would be a pleasant place to stay in, and for those who did not manage to obtain a unit here should keep an eye on the developer's website for their upcoming launches which are rumoured to be released at the end of this year.