Silverton

Silverton is one of the most luxurious condominiums residing in the Penang Island. It is labeled as a distinctive landmark in Gurney Drive which is being developed to be a prime area with luxurious condominiums and hi-tech shopping centers. Not only that, Silverton is situated just minutes of walk to the beach, and the famous Batu Ferringhi beach is just 15 minutes drive away. It is also nearby other amenities such as medical center, shopping malls, schools and hotels. This condominium is also situated along with all the other luxurious condominiums that were built along the infamous Gurney Drive during the last few years. Silverton is built with 36 floors comprising of 70 units with only two units on each floor. Each unit is a corner unit and comes with spacious balcony allowing residents to view the Straits of Malacca and luscious green landscape. Adding to that, residents can enjoy sea breeze right at their home and also enable to view romantic sunset view in the evening.Tenant residing at Silverton will find spacious layout of either 4,123 sf or 4,230 sf standard unit consisting of 5 bedrooms and 4 bathrooms. Facilities wise, Silverton provides all sorts of facilities to keep tenants fully occupied with fun, great entertainments. Landscape garden and reading room are available for those who enjoy peaceful and quiet. Games room, swimming pool, wading pool, water slide, tennis court and many more fun activities for anyone who likes the adrenaline rush. Last but not least, the whole premises is secure with 24 hour security and intercom system.

Property Details

Name: Silverton

Address: Persiaran Gurney Drive, 10250 Penang

Completion Date: 1997

Type: Condominium

Tenure: Freehold

No. of Blocks: 1

No. of Storey: 36

No. of Units: 70

No. of Bedrooms: 5

No. of Bathrooms: 4

Maintenance Fee: RM0.16 psf

Subsale Price: From RM2,500,000

Rental: RM7,000

Layouts

Standard (4,123 & 4,230 sf)

Penthouse (12,370 sf)

Facilities

24-hour security

Multi-storey car park

Rock waterfall

BBQ area

Landscape garden

Reading room

Visitors lounge

Common bathroom

Games room

Swimming pool

Wading pool

Water slide

Gymnasium

Sauna

Tennis court

Squash

Children playground

Lounge

Intercom system

Market Trends

Analysis

One of the problems residing in Silverton is its small entrance with one entrance to get in and another to leave the resident area. It is not a major problem during normal days, but on busy days, it will be hectic for residents to get in and out with the traffic jam causes by the one way road provided. Hence, tenants will be lining up at the entrance waiting turns to drive in / out.Another problem noted along the famous Gurney Drive is motorcyclists which famously labeled as "Mat Rempit" among Malaysians, who make a lot of noise in late evening and even in the middle of the night. It is worse during weekends as their numbers doubled, as well as the noise created. Besides making noise, they perform stunts and dangerous actions that might harm others nearby. Besides that, another problem residing in the area of Silverton is bad traffic congestion which normally occurs during before and after working hours, as well as during public and school holidays as lots of tourists, love couples and families are crowded along Gurney Drive. The problem becomes worse as numerous cars are parked on the side of the Gurney Drive. This also results difficulties for residents to enter the entrance. In terms of capital gain, Silverton's asking price as of September 2014 starts from RM2,500,000. This price has significantly increase from previous known price of RM1,900,000. Silverton makes a good investment for the future, especially after the property market recovers and with proposed developments by the government nearby the property.Penang's economy has been rapidly developed in recent years following the Northern Corridor Economic Region (NCER) plan. Moreover, Georgetown has been listed as part of UNESCO's World Heritage Cities Program that attracts more tourists coming to the island as well as attracts more foreigners to make Penang as second home following Malaysia My Second Home (MM2H) program. Perhaps all these development will cherish property market in Penang, including Silverton.