1 Persiaran Gurney

1 Persiaran Gurney (also known as PG1) is a high rise condominium on Penang Island. Located along Penang's prominent water front Gurney Drive, this condo was completed in 1988 on a freehold plot of land. It consists of two blocks of 26-storey and 29-storey condo with a total of 198 units. There are basically two types of layouts, the standard units which start from 1,400 sf onwards and the penthouse units which is from 3,000 sf onwards. There are three lifts servicing each block at PG1. 1 Persiaran Gurney is located exactly at the corner of Persiaran Gurney or better known as Gurney Drive on the Northern part of Penang Island. PG1 is easily accessible via major roads in Penang such as Kelawei Road, Burma Road, Gottlieb Road, and Codrington Avenue. 1 Persiaran Gurney is near to amenities such as cafe and restaurants, corporate offices (Northam Tower and Gurney Tower), hospitals (Gleneagles Hospital, Penang Adventist Hospital), schools (Penang Chinese Girls High School, Convent Pulau Tikus, St. Nicholas School), shopping malls (Gurney Plaza, Island Plaza, One Stop Midlands Park Centre) and many others.

Property Details

Name: 1 Persiaran Gurney (also known as PG1)

Address: 1, Persiaran Gurney, Penang

Completion Date: 1988

Type: Condominium

Tenure: Freehold

No. of Blocks: 2

No. of Storey: 26 and 29

No. of Units: 198

Maintenance Fee: RM0.15 psf

Subsale Price:

Rental:

Layouts

Standard units

1,400 sf onwards

192 units, 4 units per floor

Penthouse units

3,000 sf onwards

6 units, 2 - 3 units per floor

Facilities

24-hour security

Multi-storey car park

Landscaped garden

Community hall

Car wash bay

Convenience store

Swimming pool

Wading pool

Gymnasium

Sauna

Tennis court

Squash court

Children's playground

BBQ area

Market Trends

Analysis

As one travels along Kelawei Road and turns into Persiaran Gurney, it is almost impossible to miss out on two blocks of high rise condominium on the left side of the road. These two towers of 1 Persiaran Gurney were built exactly at the corner of Persiaran Gurney, after the Pangkor Road – Kelawei Road junction. PG1's strategic location as well as unique building structure has contributed to unobstructed panoramic views for all units.1 Persiaran Gurney is a low density development as it only has a total of 198 units with four units on each floor for the standard units and two to three units per floor for the penthouse units. With its low density status, privacy of the property owners is certainly assured. Even though the condo itself is a low density project, one should take note that the whole area is considered as densely populated as there are many high rise developments along Persiaran Gurney as well as the surrounding area like Kelawei Road. With the rising population at this particular area, it will definitely aggravate the existing heavy traffic flow problem. Thus, property buyers should be aware that Persiaran Gurney (Gurney Drive) which is one of Penang's tourist attractions is often packed with cars, particularly on weekends and public holidays. The sea view at Gurney Drive is obviously beautiful, but definitely not during the low tide season. Residents should take note that during the low tide season, Gurney Drive becomes muddy with foul smell. The odour could bring unpleasant experience to property owners staying at PG1. Several years back, the local government had proposed to build the Penang Outer Ring Road (PORR), an elevated expressway which connects Gelugor (near Penang Bridge) to Tanjung Bungah on Penang Island with the intention to cut down traveling time. However, if it was constructed, all developments along Gurney Drive (including PG1) would be blocked by it. According to the PORR's initial route plan, it would be built exactly beside PG1 and crosses directly in front of this high rise condo. Even though the PORR has been postponed indefinitely, potential property buyers should take note that there is high possibility of this project being revived in the future. Pricing wise, 1 Persiaran Gurney is considered to be one of the more affordable high rise residential tower compared to the other new developments along the same road. Even though this condo is located at an up market area, potential property buyers could easily find a unit at PG1 that is priced at less than RM1 million. However, as 1 Persiaran Gurney is a rather old condo as compared to other high rise condos with latest architectural designs, property buyers believe that with the same amount of money (or a bit more), they could actually purchase a brand new condo of a similar concept within the same area. Nevertheless, by looking at several factors such as PG1's location, full condo facilities, spacious units as well as well maintained building, the subsale value of this condo is well justified.