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Lorong Stewart nestles in the heart of Georgetown, Penang. The area consists mostly of pre-war buildings, which were used as shop-houses during the olden days. It currently still serves the same purpose, where properties here are used as commercial units, or being converted into accommodations.
Units here are typically 2 storeys high, with built-up from 3,000 sf onward. The units commercial aspect would be the fact that an empty unit can be customized to fit the nature of businesses that owners are planning to run. In terms of accommodation, owners are looking at units that can fit an average of 4 to 5 bedrooms, and it can be rather prospective for investors who are looking to rent out their units, as they are suitable to be converted into hostels or inns, suitable for tourists who are travelling to the state.
Lorong Stewart is a well known place that travellers would visit, thanks to the Love Lane and mural art within the area, which makes units here a lucrative investment. The nightlife here is also a highlight. On the other hand, this area has a host of tourist attractions nearby, which include the likes of Camera Museum, the Sun Yat Sen Museum, and the UNESCO World Heritage Site Buffer Zone. Amenities that are within walking distance are such as banks, cafes, offices, restaurants and small shops.
There are other areas of interest that are located within a small radius of Lorong Stewart, such as Fort Cornwallis, Padang Kota Lama, and the Queen Victoria Memorial Clock Tower, just to name a few. Meanwhile, Georgetown centre is just a short drive away, it houses the Penang Times Square and Prangin Mall, where more entertainment outlets can be found. The Komtar Tower is also located nearby. In any case of emergencies, hospitals such as Penang Hospital and Island Hospital are easily accessible.
Lorong Stewart can be accessed via various points, one of them being the Pengkalan Weld, which has access to Tun Dr. Lim Cheong Eu Highway. Via the highway as well, one can reach other townships such as Bayan Baru and other townships on the mainland.
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Did you know?
Check out the value of surrounding recently completed properties to make the best buying decision.
Property Name | Year of Completion | Ad Selling Price | Ad Rental Price | Avg Transacted Price | Avg Rental Yield (%) |
---|---|---|---|---|---|
Lorong Stewart | 0 |
RM6,300,000
-
RM6,300,000
RM 1,166 psf - RM 1,166 psf |
NIL | NIL | NIL |
Prangin Mall | 2001 | From RM220,000 | From RM1,300 | NIL | NIL |
Taman Harbour View | 1995 |
RM320,000
-
RM320,000
RM 457 psf - RM 457 psf |
RM900 - RM900 | NIL | 3.38 % |
Did you know?
Check out the past transacted prices of this neighbourhood to make the best buying decision.
Non-Landed | Landed | Commercial | |
---|---|---|---|
0 - 500 SQ. FT | - | - | - |
500 - 1,000 SQ. FT | - | - | - |
1,000 - 1,500 SQ. FT | - | - | - |
1,500 - 2,500 SQ. FT | - | - | - |
2,500 - 4,000 SQ. FT | - | - | - |
4,000 SQ. FT and above | - | - | - |
Note:
Down Payment (10%) | RM 290,000 |
Loan Amount ( 90 %) | RM 2,610,000 |
Tenure Years | 35 Years |
Interest Rate | 4.85% |
Others (Estimation) | RM 10,000 |
Disclaimer
The information shown is indicative and for illustration only. It does not guarantee the accuracy of the calculation and accepts no liability for any inaccuracies or omissions. The above does not constitute an offer of credit nor does it guarantee that the credit facility applied for will be approved. All applications for financing are subject to credit evaluation and approval and it reserves the right to approve or reject such applications without assigning any reason therefore.
All interest rates shown are indicative according to criteria provided by financial service providers and this is an estimated figure only do not constitute a guaranteed figure. Please consult your respective financial provider for the exact interest rate.
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