Sharing with Penang Island’s prominence and affluence is a freehold condominium named N-Park, rising tall and proud at Jalan Batu Uban in Gelugor. Known by many as N-Park Resort Condominium, the development is famous for its resort-inspired design luring potential investors with its promise of a convenient lifestyle. For its neighbours, the development is close to The View, The Uban Residence and E-Park Condominium. Also within the vicinity is one of the area’s premier university, USM or Universiti Sains Malaysia, which makes N-Park a prime choice for both students and investors looking for high rental returns.
Affordable and Practical Choices
Completed in 1997, N-Park was developed by Pernas Group, the same developer behind Sunny Ville and D’Piazza. A total of 988 units are offered, housed within 4 blocks of 30 and 32-storey towers with 8 condos per floor. Built-up size is practical and modest measuring 700 sq.ft. providing ample space that’s easy to maintain for young urbanites. Reasonably priced, units at N-Park go from RM150,000 to RM190,000 with RM100 maintenance fee per month. Rental rate, on one hand, is set between RM750 to RM1,550.
For a cozy condominium, the price range falls along the affordable range. But as you should know, cheap doesn’t always mean quality. To ensure you’re getting the fair market value, use our price valuation guide right here.
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Equipped with Modern Facilities
Catering to residents’ needs are numerous modern facilities within the development. To keep up with the frenzied student life and modern work life, N-Park boasts of the practical features such as a convenience store, hair salon and a laundry shop. At the same time, the development allow residents to still live the lifestyle they want within the comforts of their home. Some of these lifestyle facilities that promote an active, healthy and a rejuvenating lifestyle include:
> wading and swimming pools
> jogging track
> basketball and tennis court
> water theme park
> indoor badminton and squash courts
> children’s playground
> sauna room
There’s also a management office taking care of your queries and a 24-hour security ensuring that N-Park’s perimeter are round the clock safe and sound for peaceful living. Furthermore, each unit comes with covered parking and even visitors have their own area for parking.
The Batu Uban’s Charm
Another element that enhances N-Park’s charm is its close proximity to amenities including schools, shopping centres and a plethora of commercial establishments. Apart from USM, other schools in the vicinity include Elizabeth Ballet Academy and SMJK Phor Tay. As for shopping, residents can conveniently head over to Queensbay Mall, e-Park, Tesco and FTZ hub to name a few.
Situated between two major roads, Jalan Sultan Azlan Shah and Bayan Lepas Highway, N-Park is easily accessible as well as well-connected to other key destinations.
What We Think
Given that the freehold condominium is a part of the efforts to transform Penang through the Penang Cybercity 1 masterplan, N-Park is strategically positioned for more growth and high potential for returns. As Penang continues to upgrade and attract major developers, the condominium project is also poised to grow alongside it making this investment worth looking at. N-Park’s age, however, can be a drawback especially that more condominiums and similar projects are rising in the area. This implies stiffer competition which may or may not leave the development behind.
Nonetheless, N-Park remains as one of the more affordable options for both students and young professionals working at Bayan Lepas Industrial zone. Currently, the units are selling below developer’s price which suggests a good time to enter the real estate scene of Penang considering that prices are still cheap. If you’re interested and want to know more about N-Park’s fair market value, make sure to grab our free ebook guide on valuation below.