Millennium Tower

Millennium Tower is a luxurious super condominium residing along the renowned Gurney Drive in the heart of Penang Island. It is encompassed by the sea, sand, and sun of the Pearl of The Orient. Plus, one of the units is reportedly owned by Datuk Michelle Yeoh, a famous Malaysian-born Hollywood star.Millennium Tower is a low density condominium as it consists 20 luxurious units with generous space of 6,000 sf for each unit which comprises of 1.5-storey of the 35-storey condominium building. There are 1 to 5 public rooms and 5 to 7 bedrooms for each unit which depends on the resident requirements and area usage. Its walls can be moved accordingly to suit resident's lifestyle. As soon as residents stepping into Millennium Tower, they will be relaxed by the Zen-inspired garden on the ground floor towards the lift which create a pleasant feeling of getting home after long hours work. Residents access their home by private lift that opens to a breathtaking view of the seaside view. At home, residents are catered with 360-degrees of magnificent skyline of Penang urban-city and uninterrupted view of the sea with Penang bridge panorama via the glass features all-over the area. There are several facilities provided to cater residents' luxurious needs. Right in the ground floor lobby, residents are catered with a Zen-inspired garden. Second floor is dedicated for family leisure which it comprises of family area, children's pool and BBQ area. On its upper floor, the facilities are specifically built for adults, consisting 25-meter infinity edge pool, gymnasium and private spa suites. Meanwhile, taking the benefits of the view, its 19th floor houses a residents' lounge and a business centre. In terms of parking, each unit at Millennium Tower is provided with 3 parking bays and residents can also purchase additional parking for a sum of money.Gurney Drive is a well-known popular spot among the locals and tourists. It is a 2 km seafront promenade queued with luxurious condominiums, hotels, fancy restaurants, Gurney Plaza shopping mall and a hawker centre packed with famous Penang foods. Gurney Drive contains everything offered by the whole island, from foods to the beach to luxury lifestyle and a happening place to chill out. Therefore, residents should not worry about to find anything being nestled in the vicinity. Residents can always take a walk to Gurney Plaza shopping mall for shopping spree which houses top brands stores, numerous restaurants, cinema and others. Besides that, Pulau Tikus wet market is also located within walking distance. Other amenities surrounding the vicinity are medical centre and schools. Neighbors residing together along the drive are Arcadia, 1 Persiaran Gurney, 11 Gurney Drive, Desa Mas, Gurney Park, Silverton and The Regency.

Property Details

Name: Millennium Tower

Address: Persiaran Gurney, Penang

Completion Date: 2005

Type: Condominium

Tenure: Freehold

No. of Blocks: 1

No. of Storey: 35

No. of Units: 20

Built-up: 6,380 - 9,580 sf

Subsale Price:

Rental:

Layouts

Type A (6,380 sf)

Type B (5,880 sf)

Penthouse (9,580 sf)

Facilities

24 hours security

Covered car park (3 parking bays per unit)

25m infinity pool

Children's pool

Waterfall

Garden

Rock climbing wall

2 private spa suites

Jacuzzi

Sauna

Steam bath

Massage bed

Gymnasium

Barbecue area

Market Trends

Analysis

If beach-side living with lush greenery and beautiful white sandy beach is what you are looking for, Millennium Tower is not for you. This scenic famous beach along Gurney Drive is lost due to modernization, erosion and pollution by human-kind. Besides that, with the recent massive reclamation project developed at Tanjung Tokong, it caused mudflats and sludge. There is also a redevelopment project along Gurney Drive, namely Gurney Paragon on a 10.21 acres heritage site by Hunza Properties. It comprises of a shopping mall and 2 phases of super 270-units condominiums and Hunza’s corporate headquarters. It is scheduled for completion in 2010.In addition, it is believed that the life of this historic beachfront will end due to the construction of the Penang Outer Ring Road. Not only that, it will be worsen with several reclamation works which will be undertaken for mixed housing developments, commercial projects and highway constructions. About the Penang Outer Ring Road development, it was initially planned to be developed back in 2006 with a total cost of RM 1.02 billion. It is designed to be a four-lane dual carriageway with speed limits of up to 80km per hour, equipped with 8 interchanges and 4 toll plazas. The project is currently in MRCB hand and plan to be started anytime soon. With the PORR development, it will disperse heavy traffic from Jalan Air Itam, Jalan Tanjung Tokong and Jalan Sultan Azlan Shah and alleviate the congestion in the town area. This project will cross Gurney Drive and requires reclamation on the Gurney Drive beachfront. For the trade, the developer has also planned a public park and a promenade that will be beside the road, on the seafront. Besides the Penang Outer Ring Road development, there are numerous upcoming projects planned near the vicinity. Minutes away from Gurney Drive is the ongoing Penang's largest integrated sea-front development of Seri Tanjung Pinang, which is a huge water-front development on over 980 acres land by E&O Property Development. These 2-phases development is expected to be completed in 15 years. The Seri Tanjung Pinang development will house prime residential units, affordable housing, high-rise condominium units, serviced apartments, a marina and food and beverage outlets.The traffic congestion along the drive is really bad during certain period. On the weekdays, the traffic is congested during after work hours after late evening as the area is crowded with locals and tourists. The situation is worsened during public and school holidays as the area is being filled with local and foreign tourist. Besides massive mean of vehicles getting into area, these cars and motorcycles are parked on the roadside along the Gurney Drive which makes the traffic congestion become worst. Even though Millennium Tower is situated on the beach side, it is doubtful that the residents are capable to enjoy peaceful and quite living. With all the noise made by these crowds, their vehicles and commercial activities all around, the noise should be intolerable. Worst, Gurney Drive is a favorite spot for infamous "Mat Rempit" or notorious motorcyclist gang for hang-out and performs insane stunts. This creates noise as well as exposes pedestrians and cars to loads of danger. The price changes at Millennium Tower seems uninteresting and volatile to the economic condition. In mid-2008, it is transacted for RM525 psf; and in early of 2009, it is listed for only RM437 psf which shows tremendous price downtrend within a year. Investment wise, being top rank of the most expensive residential in Penang, one should really target the royal families, business tycoons and rich expatriates for potential buyers in the future, which are really scarce and risky. But Penang is still a good area for investment and there are still a number of residential in the area that worth investing. With good acceptance of Malaysia My Second Home (MM2H) program, the island will surely be crowded with expatriates who would love to call Malaysia their home.