KUALA LUMPUR, Dec 15 (Bernama) -- SQFT Global Properties and Henry Butcher Malaysia jointly present a diverse portfolio of prime commercial properties located in Penang, Malaysia, for sale individually. These assets encompass a range of income-generating properties, from boutique hotels and colonial shophouses to heritage bungalows zoned for commercial use with promising development potential.
 
Penang’s real estate market has demonstrated significant growth post pandemic, solidifying its position as a premier destination for savvy investors seeking long-term value and diverse income streams. According to data released by the National Property Information Centre (Napic), there has been a noticeable surge in property transactions in 1Q2023 compared to the previous corresponding periods a year ago. Furthermore, Penang's flourishing tourism industry stands as a draw for property investment. With its rich cultural heritage, sandy beaches,  and vibrant food scene—especially the globally renowned Penang Street Food—the state consistently attracts visitors worldwide.  Penang, acknowledged as one of the 22 "Best Destinations to Visit" by CNN Travel in 2022, further underscores the appeal of these exceptional investment prospects within this vibrant locale.
 
Here are the property highlights:
 
1. Limburg - 52 Jalan Larut, 10050 Georgetown
A Category 2 heritage bungalow dating back to 1916, once the residence of Lim Cheng Teik, Penang's first millionaire industrialist. Fondly remembered as the "KFC Larut," it once housed the oldest Kentucky Fried Chicken fast food restaurant for 32 years.

Land Area: 50,666 sqft (4,707 sqm) approx.
Floor Area: 9,881 sqft (918 sqm) approx.
Zoning: Commercial (Penang Island Masterplan)
Tenure: Freehold
Tenancy Status: Vacant

2. Campbell House - 106 Campbell Street, 10100 Georgetown
An acclaimed 12-bed boutique hotel nestled in Penang's Chinatown, ranked 4th best hotel in Georgetown by TripAdvisor reviewers. The property boasts an Italian restaurant listed in Michelin Guide 2023. This owner-operated hotel achieved a remarkable 90% occupancy rate in 2022/2023.
 
Land Area: 3,262 sqft (303 sqm) approx.
Floor Area: 9,170 sqft (852 sqm) approx.
Zoning: Commercial (Penang Island Masterplan)
Tenure: Freehold
Tenancy Status: Owner occupied

3. Coffee Atelier at 47-55  Stewart Lane, 10200 Georgetown
Nestled within the Core Zone of Georgetown's UNESCO World Heritage Site, Coffee Atelier comprises a collection of five early 20th-century conserved shop-houses. This unique property hosts a boutique hotel, Gehrig Art Gallery, a kopi museum, and exclusive dining experiences offered by Christoph's—an acclaimed European restaurant. This is a multi-use property in a prime location and has been sensitively restored to preserve its historic charm while offering modern comfort to travellers.

Land Area: 4,846 sqft (450 sqm) approx.
Floor Area: 7,568 sqft (703 sqm) approx.
Zoning: Commercial (Penang Island Masterplan)
Tenure: Freehold
Tenancy Status: 47 – 53 are owner operated businesses. 55 Stewart Lane is tenanted to Christoph’s.
 
These rare properties present a blend of heritage, commercial viability and opportunities within the vibrant landscape of Penang.    For further information or to schedule a viewing, please visit https://www.sqftglobal.com.sg/ or email Michael.ys.tan@outlook.com. 

About SQFT Global Properties
SQFT Global Properties is the culmination of many years of excellence, expertise and experience in the overseas real estate business. The company started off in 2010 as SQFT Global following the great success achieved under the flagship of OrangeTee Global Properties in 2007. Within these 14 years, SQFT Global has flourished and expanded itself significantly across Asia while covering over 54 cities in 24 countries. For more information, visit https://www.sqftglobal.com.sg/

About Henry Butcher Malaysia
Henry Butcher Malaysia which is part of the international network of Henry Butcher & Co., International Asset Consultants & Chartered Surveyors has been providing real estate solutions to government, commerce & industry in Malaysia for more than 35 years.  Henry Butcher & Co was founded in London circa 1860s.

Source: SQFT Global Properties

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Michael Tan
Tel: 9 272 7788
Email:Michael.ys.tan@outlook.com. 

--BERNAMA