House For Sale Penang Malaysia

House For Sale Penang Malaysia – Penang, former residence of Malaysia’s first Prime Minister, the late Tunku Abdul Rahman Putra Al-Haj on Pulau Tikus, is on the market for a whopping RM62 million, making it the most expensive listing currently.

The two-storey detached residence with six bedrooms and an attached staff room has been put up for sale on several property portals and there are international offers.

House For Sale Penang Malaysia

House For Sale Penang Malaysia

The property sits on 0.6 hectares of freehold land facing Jalan Park and Jalan Tunku Abdul Rahman, a road named after Tunku, who lived there until his death in 1990.

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The house, with a constructed area of ​​9,867 m2 and a plot of land of 64,472 m2, is a well-preserved heritage complex, according to the listings.

He stated that the property had been remodeled and renovated, but did not provide further details about when this may have occurred.

Property experts said if the deal goes through for RM62 million, it would be the most expensive residential property sold in the market currently.

The current owner of this historic property is believed to be a private company (not a developer) that purchased it more than a decade ago.

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“The property was acquired by Tunku’s family after his death and the private company bought it. There is no record of who has lived there since Tunku’s death. “It’s been empty for many years,” said an experienced real estate advisor familiar with the property.

According to the consultant, the current owner has been trying to sell the property for more than three years.

The consultant also said that he was surprised by the way the property was presented for sale on the market.

House For Sale Penang Malaysia

“The sale of this property must be properly presented through a professional marketing company. Current listings do not show the historic appearance of the property. This house has a lot of history… the country’s first prime minister lived there! The potential of the entire land is also not well presented,” he stated.

File:penang Malaysia Old House In Jalan Masjid Kapitan Keling 01.jpg

When asked if RM62 million (about RM962 per sq ft) is too high for the property, he added that the development potential of the area should be considered.

“If a developer wants to take over, he will want to know what the future potential is, as well as the highest and best income that can be expected from this property. All this should be said rather than simply mentioning the price and that the former Prime Minister used to stay there.

“We need to know what is permitted for the land, for example if you can build on the back of the property. What is the planning permission for the land available on the site? Can we build a condo and if so, how high? The house is surrounded by a large plot of land that can be remodeled. The house, in turn, can be preserved and transformed into something more significant, such as a museum, a gallery or a restaurant,” he stated.

The property is surrounded by a mature garden and located just a few steps from the Royal Thai Consulate General and St Kitts International School.

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Pulau Tikus is one of the most popular neighborhoods among all other townships in Penang Island. It is bordered by Georgetown to the southeast, Tanjong Tokong to the north and Gurney Drive to the south.

The Pulau Tikus area is said to be named after the real island of Pulau Tikus, a small rocky rat-shaped island (tikus in Malay) located about 2 km off the northeast coast of Penang Island.

Despite its name, Pulau Tikus is known as an “upper class” neighborhood, with mansions, bungalows and colonial buildings, including condominiums, many with sea views.

House For Sale Penang Malaysia

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