Greenlane Park

Greenlane Park is a freehold high-rise condominium being built on a small hill in Green Lane of Penang. The condominium was completed in 2005. There are two blocks of residential building inside the compound and each comes with 27-storey. The neighborhood residential block is Menara Greenview. In total there are 3 layouts available at Greenlane Park. They are 860, 1250 and 1270 square feet. The two smaller size units have 3 bedrooms and 2 bathrooms while the largest size have one extra bedroom.Green Lane refers to the area officially named Jalan Masid Negeri, which is to signify the opening of the State Mosque in Penang. However, the place is commonly known as Green Lane among the locals in Penang. It was just a small farming community back in early 1920s. Several developers have launched various development projects at Green Lane turning this small farming town into scaled housing estates. Nowadays, Green Lane has become a major road in Penang. It connects the Georgetown with Gelugor and Bayan Lepas. Georgetown is the capital of the state of Penang. Instead of being a single lane, Green Lane has evolved into tripe lanes and has become one of the busiest roads in Penang. Greenlane Park is strategically located being served by good network of roads. It only takes about 10 minutes drive to reach Bayan Lepas, Penang Bridge and Georgetown. Public buses also pass by the area. There are Rapid Penang 103 going to Batu Ferringhi and Bayan Lepas International Airport and Rapid Penang 206 going to Komtar and Tesco, Jelutong.The nearby schools from Greenlane Park include SMJK Chung Hwa Confucian (0.53km), Spastic Children's Association Penang (0.77km), Lwe College of Nursing (0.94km) and Yamaha Digital Music Academy (0.98km). The other landmarks in Green Lane include the Penang Free School, Convent Green Lane, Tropicana Medical Centre, Wah Ee Hospital, YMCA, McDonalds drive-in and Tesco Jelutong.

Property Details

Name: Greenlane Park

Address: Solok Tembaga, Island Park, 11600 Green Lane, Penang

Completion Date: 2005

Type: Condominium

Tenure: Freehold

No. of Blocks: 2

No. of Storey: 27

No. of Units: 382

Built-up: 860 – 1,270 sf

Maintenance Fee: RM70 onwards

Subsale Price:

Layouts

3 bedrooms & 2 bathrooms (860 sf & 1,250 sf)

4 bedrooms & 2 bathrooms (1,270 sf)

Facilities

Barbecue area

Car park

Gymnasium

Basketball court

Jogging track

Swimming pool

24-hour security

Landscape garden

Table tennis

Playground

Community hall

Market Trends

Analysis

The Greenlane Park condominium is centrally located giving residents the convenience to travel to different major areas of Penang. In addition to the wide ranges of facilities being provided in the compound, each unit also possess a panoramic view of green landscape and the blue skyline.The monthly management fee of Greenlane Park is quite low starting from RM70 onwards. It is not sure whether this may be a reason resulting in the dissatisfaction among the residents with the current management. The security at the compound of Greenlane Park is considered to be poor. There are complaints regarding the security guards falling asleep during duty time and the out-of-order CCTV. The general lighting is not sufficient in the common area particularly at the visitor car parks, swimming pools, basketball courts and the walking area. It seems that the management of Greenlane Park does not employ proper gardeners to maintain the landscape. Instead, they rely on the current cleaners to do the gardening and as a result, most of the plants die. Facilities such as the gymnasium and sauna have been broken down for months without any repair and maintenance. The most important issue is the possible water leakage in some units.The condominium has only been in place for 6 years but there are man units putting up for sale online as compared to the neighborhood apartments. It can be a sign that the capital has appreciated much but it can also be a reason of the poor security and management.Greenlane Park is actually built on a slope more then 30 degrees. By law this structure may pose danger to the nearby apartments. In additions, it may also have hidden danger in case the foundation is not strong enough to hold the twin residential blocks being built on top. Some nearby residents have been reporting cases of landslides.Having said that, Green Lane is an area with good potential. Should the project to connect Green Lane with Bayan Lepas airport via the South Monorail line being materialized, there will be a transit station between the North and East line located at the State Mosque station. In this case, the investment potential in this area will be further enhanced.