DONE DEAL: Ground floor of a two-storey shoplot, Jelutong, Penang

Rented for: RM3,200 a month

Concluded by: Mayzel Wong (REN 17359) of Khoo & Associates Realty (017-575 8999)

When: Nov 21, 2016

Noteworthy:
● Leasehold
● 1,400 sq ft
● Ground floor of a two-storey shoplot
● Nearby amenities include F&B outlets, banks, mini market and Maritime Auto Mall
● About 5km away from George Town, 13km away from Penang International airport in Bayan Lepas and 6km to the Penang Bridge

The unit is situated at Lebuh Sungai Pinang 1 in Jelutong, Penang, right behind Persiaran Karpal Singh, which is now one of the most popular chill-out places for locals and tourists owing to its fabulous sea view and a wide range of F&B choices.

According to Mayzel Wong of Khoo & Associates Realty who concluded the rental deal, the shoplot faces the main road with plenty of parking lots. The shoplots here are therefore suitable for retail businesses. This unit was previously occupied by a hardware business.

“The new tenant plans to open his own automotive workshop as there are no shops providing similar services nearby,” she added.

Wong noted that shoplots in the vicinity are in good demand as there are high-rise residential developments nearby, such as The Ocean View, Desa Pinang 2, The Summer Place and The Spring, which could become the growth driver for businesses.

She said the rental for ground floor space in this area is slightly above RM3,000, with the rental on the second floor ranging from RM1,500 to RM1,800.

For this ground floor space, the deal was closed with a monthly rental of RM3,200 for a two-year contract.

Available rental listings showed that the asking rental for the ground floor in a two-storey shopoffice unit at Lebuh Sungai Pinang is about RM3,500 per month.

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