Menara Penang Garden (also known as Wisma Penang Garden) is an office building located in Georgetown, Penang. It is a freehold sea fronting high rise that neighbours The Mayfair and along the same road is Menara KWSP. Located along Jalan Sultan Ahmad Shah; or better known by the locals as Northam Road; it was completed in 1983 approximately 30 years ago, and its developer is unknown.The name Menara Penang Garden depicts it as a tower, and standing at 11 storeys tall it may not be considered a tall building in todays world; but 30 years ago when building were generally less than 5 storeys in height, this building was indeed tall. It consists of a 2 storey podium block that is called the Citibank Building which incidentally happens to be Penang's first Citibank branch, and a single block of building which is the Menara Penang Garden. Units for sale are hard to find, but prices are reasonable at RM400,000 for a 1,400 sf per unit, while rental starts from RM1,900 per month. Built ups at Menara Penang Garden vary largely with the smallest ones being 1,368 sf while the biggest ones are approximately 7,400 sf. Units here are predictably already furnished with air conditioners, and some of the units for rent come bare while others come semi-furnished with office tables or are renovated with partitions and workstations. Selected few units will have views of the sea as well.Menara Penang Garden may not offer the highest in class in terms of its materials and facilities such as high speed lifts and rain harvesting systems and the like, but it is still highly sought after for its extremely central location. It is essentially a very successful business centre and its only offering is its own private covered parking.Its prime location places Menara Penang Garden in the middle of Georgetown, and is only a short driving distance to Pulau Tikus and is even closer to Tanjung Tokong which a mere 6 kilometres away. Surrounding it are many housing areas that belong to all walks of life with high traffic passing through everyday, therefore access to these offices are highly convenient. The main road that serves Menara Penang Garden is Jalan Sultan Ahmad Shah, one of the heaviest travelled roads in Penang. Public transportation is relatively easy as the Rapid Penang bus 103 goes along that road, and catching a cab is convenient as well.
Property Details
Name: Menara Penang Garden (also known as Wisma Penang Garden) Address: Jalan Sultan Ahmad Shah (Northam Road), 10050 Georgetown, Penang Completion Date: 1983 Type: Office Tower Tenure: Freehold No. of Blocks: 1 No. of Storey: 11 No. of Units: Built-up: From 1,368 sf Subsale Price: Rental: Facilities
Covered parkingAnalysis
Traffic in Georgetown, Penang never eases, a testimony to the number of people that passes through this area everyday and also the reason why offices like Menara Penang Garden are highly sought after. Getting to work may be a pain, but the high traffic that passes through here on a daily basis bodes well for any business that opens here. Although Menara Penang Garden is old, it is very well maintained and to this day exudes a dignified air of regality. The neighbourhood caters to the higher end market, therefore the residential units here are mostly upmarket. However within the city limits there is a fair share of low cost homes and flats, giving the neighbourhood a healthy mix of people.As with older developments, investment is a risk. However investing in Menara Penang Garden looks promising as its management maintains the building well, not to mention it sits one of the most sought after land on the island. Prices are reasonable, therefore buying a unit to sublet it may possibly yield positive returns.
