The Palazzo

The Palazzo is a luxury condominium nestled along one of Penang's well-known rich men's road Pulau Tikus, Penang. This low density development houses 14 condo units and one duplex penthouse. It is 17-storey high and only has one block built on a land area of about 20,390 sf. This freehold condo was developed by Ewein Holdings, which was completed in 2006. The Palazzo is built on a plot of land at the junction between Kelawei Road and Edgecumbe Road, which is in the vicinity of Pulau Tikus where the affluent group of people stays. This luxury condo is easily accessible via Burma Road, Gottlieb Road, Codrington Avenue, Peel Avenue and many other major roads in Penang. The Palazzo is also within close proximity with many public amenities namely hospitals (Gleneagles Medical Centre, Penang Adventist Hospital and Island Hospital), schools (Convent Pulau Tikus, Penang Chinese Girls High School, St. Nicholas School), shopping malls (Gurney Plaza, Island Plaza, One-Stop Midlands Park Center), churches, temples and mosques, bus stops, petrol kiosks, food outlets, business center and so on.

Property Details

Name: The Palazzo

Address: 29, Kelawei Road, 10250 Penang

Developer: Ewein Holdings

Completion Date: 2006

Type: Condominium

Tenure: Freehold

No. of Blocks: 1

No. of Storey: 17

No. of Units: 14 (standard), 1 (penthouse)

Built-up: 4,000 sf

Maintenance Fee: RM800 onwards

Subsale Price:

Rental:

Facilities

24-hour security

Electronic controlled access

CCTV on every floor

Swimming pool

BBQ area

Broadband internet ready

Gymnasium

Drivers waiting area

Management office

Market Trends

Analysis

As one travels along Kelawei Road, it is almost impossible to miss The Palazzo's building as it is very different from any other typical condominiums. The developer of this luxury condo has adopted classical Italian architecture which includes exceptionally attractive Roman columns and arches. With just a glance, it is obviously shown that this development is specially meant for those who come from the rich and sophisticated lifestyle group.As there is only one unit on each floor, The Palazzo is able to command panoramic views of Gurney Drive, Esplanade, and inner city of Georgetown, Penang Bridge, Penang Hill and Tanjung Tokong. However, with the recent development of a new high rise condo which is quite near to The Palazzo, it could possibly block a portion of the Gurney Drive view. The ceiling height at most high rise developments is about 9 feet high. However, The Palazzo has an exceptionally high ceiling. The ceiling heights of units 1 to unit 3 are 15 feet high whereas units 3A to 12B are 12 feet high. In terms of finishing, The Palazzo is also very different from other developments as all of its common areas including basement car park and driveway have five-star finishes with marbles, quality tiles, mosaics, pebble wash and concrete imprints. The Palazzo is indeed strategically located along a famous road in Penang. However, apart from being famous for the affluent community's residence, Kelawei Road as well as other roads within Pulau Tikus / Gurney Drive area is also well known for its heavy traffic flow. This would certainly expose all units at The Palazzo to noise pollution as well as dust. Pricing wise, the value of The Palazzo is considered reasonable if one were to compare its price against the building's special architecture, low-density, location, ultimate privacy as well as unit size. However, if a potential property buyer were to compare the facilities provided at The Palazzo with those at other condominiums, one would possibly find that it is much worth it to stay elsewhere. As the facilities provided at The Palazzo are limited and not the usual full condo facilities. Nevertheless, as The Palazzo targets the well-to-do market, the price difference and worthiness may not be an issue at all, as properties like this could always be taken as an additional investment. This luxury condo would definitely be suitable for privacy seekers as there is only one unit on each floor. Apart from that, each unit also has a private lobby which is an additional feature for assurance of ultimate privacy.