Rented for: RM4,000 a month

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

When: July 2018

Noteworthy:
● Built-up size: 1,300 sq ft
● Unfurnished unit with squarish layout design with no pillar
● Located opposite Queensbay Mall at Bayan Lepas
● Nearby amenities: Eastin Hotel Penang, Employee Provident Fund Bayan Indah branch office, banks, eateries and Kristal Point Corporate Park.

Around 12km away from George Town, about 9km to Penang International Airport, 5km away from Penang Bridge and around 4km to Universiti Sains Malaysia.

Situated in Bayan Lepas, Bay Avenue is built in a mature residential area surrounded by housing developments such as Taman Sri Nibong, Kampung Sungai Nibong, Pantai Jerjak and a cluster of condominiums such as Villa Emas, Putra Place and Summerton

This freehold commercial development, which was completed in 2007, comprises 10 blocks of 3-storey shopoffices with ample of parking bays surrounding the shops.

According to Mayzel Wong of Khoo & Associates Realty, one of the advantages that supports Bay Avenue’s popularity is its proximity to various amenities, including Queensbay Mall which is located a mere 600m away, or less than 10 minutes’ walk from the commercial development.

“Currently, there are not many vacant units left in Bay Avenue. Tenants here include banking and finance service providers, insurance companies, tuition centres, beauty salons and F&B operators,” she said.

In this deal, the tenant who owns an F&B business liked the location for the sustainable crowds, ample parking space and the close distance to amenities such as hotel, banking services and shopping mall.

He has sealed a two-year tenancy with a monthly rental of RM4,000 for an unfurnished first floor unit in Bay Avenue.

According to Wong, the average rental for the first floor is around RM4,000; RM2,500 for the second floor and RM2,000 for the third floor.

As for units fronting the main road – Tun Dr Lim Chong Eu Highway, the rental could be as high as RM7,000 for the first floor; RM3,500 and RM2,500 for the second and third floors, respectively.

Available listings in EdgeProp.my, as at Sept 26, showed that the asking monthly rentals for the first floor unit range between RM4,200 and RM9,000, while second floor asking rentals are at RM3,500 and third floor asking rentals are around RM2,700.

Interested to buy properties in Bayan Lepas, Penang​? Click here.

Editor: To real estate agents — Have you just concluded an interesting deal? We would love to hear from you! Contact us at [email protected]