The Palazzia is the first shopping promenade in Penang to have its floor space all in a single floor area. A freehold mixed development by Ideal Homes Properties, this unique 'lifestyle-oriented commercial centre' is located on the hillside of Jalan Bukit Gambier, Penang.The Palazzia is strategically located in Bukit Gambier, on a hill bordered by Jalan Bukit Gambier and Minden Heights. Access to this area is via Jalan Bukit Gambier and Jalan Pekaka 1 which connects to Jalan Sungai Dua and the main thoroughfare of Jalan Sultan Azlan Shah. Just 10 minutes away from The Palazzia is the Penang Bridge and Bayan Lepas expressway. The Bukit Jambul Golf course is to the east of the property, just 5 minutes drive away in the direction of the Penang International Airport and the Bayan Baru Industrial Park. The Palazzia is a unique landmark surrounded by the University Sains Malaysia (USM) community which has a population of 20,000 or more. Neighboring landmarks to The Palazzia, are hosts of residences, low to medium cost apartments at Jalan Pekaka and also the Plaza Ivory tower and residences. As a lifestyle commercial center, The Palazzia is also equipped with a 20,000 sf outdoor exhibition area alongside the commercial shop-offices. Linked to the property is the Lifestyle Resort Condominium Ideal Regency completed later. There are just 54 units of exclusive commercial space in The Palazzia and boasting a high 25" ceiling height.
Property Details
Name: The Palazzia Address: Jalan Bukit Gambier, 11700 Gelugor, Penang Developer: Ideal Homes Properties Completion Date: 2009 Tenure: Freehold Type: Shop-Office No. of Units: 54 Built-up: From 819 sf Subsale Price: Rental: Analysis
All the single storey ground floor units at The Palazzia boast unobstructed views of the passing traffic along the main road. For awareness, that is certainly a must-have criterion for businesses. The price tag per square feet also speaks for itself that this new commercial space is one to be sought after. Not many are however able to afford such a location. The area where The Palazzia is located is strategic to locals, as well as visitors from the mainland Penang who cross over for business purposes. The accessibility to various key landmarks in Penang is also a boost to the property.Ideal Regency, the 5-block resort lifestyle condominium linked to The Palazzia was also built to further enhance and compliment this modern and unique development. The developer, Ideal Homes, whose maiden project was the development of Krystal Point in Bayan Baru is currently now working on the Tree Residency in Bayan Lepas. With many developments under its belt, Ideal Regency seems to be making headway in giving the community new and improved living and working spaces. Rental for a ground floor shop-office space at The Palazzia ranges from about RM3,400 a month for a 819 sf lot onwards, while a subsale lot is about RM620,000 for a 740 sf space. Not cheap, but a unique and contemporary space with tremendous potential.
