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“Commercial” property in a busy area @ below RM600k in Penang

Posted in Press Releases (developers and more)

Message from MNP Auctioneers (Central) Sdn Bhd

This property is suitable for aspiring entrepreneurs looking for a place to expand their businesses. It is also suitable for own stay if you love a mature neighbourhood instead of a quiet and faraway property. If you are thinking of buying a residential unit in a very busy area (with lots of shops and offices) and converting it into an office, this is an opportunity. The reserve price for this potential opportunity is only RM595,000. There is a 2-storey terraced house with a total floor size of 2,254 sq ft up for Open Bidding. (Auction requested by owner) There are 4 bedrooms and 2 bathrooms. Total land size is 1,540 sq ft. It’s also freehold and it’s also partially furnished too. Price per sq ft is thus only RM264 per sq ft which is extremely ‘cheap.’

The property is facing North East and located in a strategic location that is a potential business area with lots of business nearby. It is near to the main road and Hotels, Train Station, Jetty & Penang Bridge are all in vicinity. Easily accessible to North-South Highway & Raja Uda. A Potential Business Centre is coming up with condominium in the area.

Find out more on how you can own this property through open bidding. Only the highest and best bid will win! Agents are welcomed for co-broking. Further enquiries and arrangement for viewing please contact us. Mr. Cheston @ 012 7772 756.

These are the details:-

– Land Area 1,540 sqft
– Built-up 2,254 sqft
– 3+1 bedrooms / 2 bathrooms
– Renovated & Partly Furnished
– Currently Tenanted

The property comes with the following amenities:

Amenities

  • Air-Conditioning
  • Balcony
  • Bathtub
  • City View
  • Cooker Hob/Hood
  • Private Garden
  • Renovated
  • Water Heater

In terms of viability of such a property as an office cum residential for example, it is quite realistic. The total mortgage payment per month based on the following assumptions (as per image) is less than RM2,500.  If you are also staying there, then the total mortgage should be deducted with the rental savings too. I do not know of many office units within a busy area for less than RM2,000 rental per month. I mean owning the whole unit and not just one small part or a small retail lot in a popular mall. I think for retail, it’s still best to get a unit in the mall and pay RM5,000 or more for it. They are two different things. To understand more and ask many questions, please feel free to call Mr. Cheston @ 012 7772 756. He will gladly show you the unit too because this is not the usual auction where you can only see from the outside or even having to drop by at night and see if the lights are still on.

This is OPEN BIDDING. (Auction requested by the owner himself). The advantage of OPEN BIDDING to owners?  FASTER selling. On the day of the auction, if there are winners, the property is immediately sold. This is not like engaging one negotiator and found out that one may not be enough and thus, one owner engages 10 different negotiators and go crazy answering phones or even opening doors for viewings etc. It may fetch HIGHER PRICE. Marketing will be done by MNP Auctioneers so that as many people know about this. The more people bidding for it, the chances for the prices to go higher is higher. This is unlike a direct negotiation with the potential buyer for example. 

The OPEN BIDDING will happen as per below: You may register here to bid as well. 

Date: 27th December 2017
Address:  MNP Auctioneers (CENTRAL) Sdn Bhd

No.161, Jalan Sungai Pinang
Georgetown 10150

One more photo for everyone’s perusal. Contact Mr. Cheston @ 012 7772 756 for more understanding before deciding. No harm in understanding more.

— end of message —

 

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