Straits Residence Facade
  • In Progress
1571

Straits Residence

  • Service Residence
Area:
861 ft² - 1356 ft²
Beds:
1 - 2
Baths:
1 - 2
Construction ProgressLevel 2E
Overview

Straits Residence Overview

Straits Residence is a serviced residence development by Kerjaya Prospek Property Sdn Bhd (KPP) for people seeking modernity and exclusivity in their lifestyle. With balconies offering an uninterrupted view of the seafront, residents can immerse themselves in the warmth of sun rays before starting their day.

The Straits Residence is strategically located along Jalan Seri Tanjung in Penang next to Straits Quay Marina Mall. Connectivity and convenience are definitely the developer’s strong points as residents can access malls, eateries, convenience stores, and clinics which are all located nearby.

This luxury development has 246 freehold units with built-up sizes ranging from 861 sq ft to 1356 sq ft. The developers incorporate modern architectural elements with state-of-the-art home appliances which help residents transition into their new homes more smoothly. Each unit comes with branded sanitary wares, fittings, tiles, and granite worktop. As an added security measure, units are equipped with smart home technology that allows residents to have peace of mind.

In terms of room layout, the Straits Residence offers 1- and 2- bedroom suites. Type A through F with the exception of Type E are all 2-bedroom units. Depending on the unit type, homebuyers can choose between three different views, i.e. the marina sea view, the panoramic Gurney Drive and sea view, or the Seri Tanjung Pinang view.

Straits Residence Location

Straits Residence is a serviced residence development located along Jalan Seri Tanjung Pinang and is located next to the Quay Marina Mall. KPP claims that Straits Residence sits in a “high-profile neighbourhood with generously-proportioned and configured suites”. Straits Residence is part of a 12-acre development area which covers from the serene hills of Batu Ferringhi to the lively Gurney Drive. In terms of the project area, Straits Residence covers about 1 acre of land. Within the 12-acre luxury development sits bungalows, villas, terraces, and suites, all operated by Straits Quay, the commercial hub of the Marina.

Straits Residence has proximity to various social amenities such as bistros, boutiques, restaurants, seafood hotels, seaside cafes, boat rides, bars, and a scenic waterfront environment. Given Penang Island’s popularity amongst tourists and businesspeople, residents can expect a good blend of locals and expatriates from at least 12 different countries in the area.

Connectivity

Straits Residence’s strategic location allows for access to developed transportation modes and infrastructure. When travelling to Penang Island from Peninsular Malaysia, residents can opt for the passenger ferry service or drive across the Penang Bridge to reach the Straits Residence. For businesspersons who regularly travel out of Penang to other major cities or even abroad, the Penang International Airport is not too far from the Straits Residence. In terms of the road system, Straits Residence is located near to Jalan Tanjung Tokong, a major road on northern Georgetown.

The following list illustrates the different connectivity close to Straits Residence:

  • Penang International Airport: 18.4 km
  • Penang Bridge: 12.2 km
  • Jalan Tanjung Tokong: 2.4 km
  • Quayside, Jalan Sri Tanjung Pinang bus stop: 60 m
  • Sri Tanjung Pinang, Jalan Sri Tanjung Pinang bus stop: 650 m

Straits Residence is just 0.1km from Straits Quay and about 12.2 km from Penang Bridge.

Convenience

Undoubtedly, one of Straits Residence’s appeal is its close proximity to the Straits Quay Mall (about 100m). As Penang Island is one of Malaysia’s most popular tourist spots and business hubs, residents can indulge in the diversity of having both locals and expatriates in the area. The blend of local and expats in the area allows for easy access to various local and international cuisines.

A quick Google Street view shows that Straits Residence is situated close to Straits Quay, Straits Quay Event Hall, Straits Quay Convention Centre, Penangpac, and WAF Fine Art Gallery. Residents can also opt to travel to Gurney Drive or Georgetown for more entertainment and good food since both places are just minutes away from Gurney Drive and Georgetown. Georgetown is well-known for its UNESCO heritage sites and other points of interest such as Wonderfood museum, 1st Avenue Penang, Penang Jetty and many more.

Some of the medical centres, schools and convenience store near Straits Residence are listed below.

Medical Services:

  • Island Hospital
  • Penang Adventist Hospital
  • Gis Pmu Tg Tokong
  • Penang Korea Clinic

Education:

  • Dalat International School
  • Sekolah Jenis Kebangsaan Hun Bin
  • S.R.K Tanjong Tokong
  • SMK Tanjong Bunga

Shopping:

  • Straits Quay
  • Prangin Mall
  • 7-Eleven convenience stores

Straits Residence Floor Plan

Straits Residence has a total of 246 units with sizes ranging between 861 sq ft to 1690 sq ft. However, units are limited to just 1- or 2-bedroom suites. However, potential buyers have 6 different layouts to choose from with each offering a fantastic balcony view of the seafront.

KPP boasts Straits Residence of having well-thought, optimized layouts which maximise the use of space. They also claim that each unit comes with an abundance of natural light and panoramic view. A unique selling point would be the inclusion of smart home technology such as voice assistants and digital locks for each unit. All of these features add to the overall value of the Straits Residence homes and its appeal to potential buyers.

1 – Bedroom Suite
The 1-Bedroom suite offers a clear view of the residence combined with a feeling of lightness and natural beauty. The one-bedroom suite features a balcony, sea view, Penang city view, free Wi-Fi and air conditioning.

The floor plan for the 1-bedroom suite is as follows:

Straits Residence Floor Plan Type E

Type E 1-Bedroom Suite floor plan

Type E 1 bedroom, 1 bathroom, and 1 powder room. It features a built-up size of 861 sq ft.

2-Bedroom Suite
The 2-bedroom suite offers a combination of luxury and space. This option features 2 ensuite bedrooms and 2 car parks as well as the Gurney and sea view.

For the 2-bedroom plans, the kitchens and bathrooms come with branded sanitary wares, fittings, stones, porcelain tiles, and top-notch appliances to compliment the lifestyle of residents. While the 1-bedroom suite comes only in 1 layout, potential buyers have more alternatives with the 2-bedroom configuration. The different layout choices are further discussed below.

Straits Residence Floor Plan Type A

Type A 2-Bedroom Suite floor plan

The type A 2-bedroom suite features 2 bedrooms, 2 bathrooms, and 1 powder room. The size of this plan is 1356 sq ft.

Straits Residence Floor Plan Type B

Type B 2-Bedroom Suite floor plan

The type B 2-bedroom suite features 2 beds, 2 bathrooms, and 1 powder room. The size of this plan is 1335 sq ft.

Straits Residence Floor Plan Type C

Type C 2-Bedroom Suite floor plan

The type C 2-bedroom suite features 2 bedrooms, 2 bathrooms, and 1 powder room. The size of this plan is 1335 sq ft.

Straits Residence Floor Plan Type D

Type D 2-Bedroom Suite floor plan

The type D 2-bedroom suite features 2 bedrooms, 2 bathrooms, and 1 powder room. The size of this plan is 1292 sq ft.

Straits Residence Floor Plan Type F

Type F 2-Bedroom Suite floor plan

The type F 2-bedroom suite features 2 bedrooms, 2 bathrooms, and 1 powder room. The size of this plan is 1302 sq ft.

Straits Residence Facilities and Amenities

Homeowners at Straits Residence can indulge in luxurious and modern facilities and amenities from the comfort of their residence.  The entire 29th floor is dedicated to offering recreational amenities and facilities for both adults and kids. Active and health-conscious residents can opt for work out sessions at the gym room while working professionals can send their children to the nursery. During the weekend, young families can bring their children over to the play area or wading pool.

The rooftop facilities also offer a roof garden and a BBQ area with a great view of the sea, Gurney Drive and Tanjung Penang. There is also a privately-owned sunset deck that creates an overlook to the sunset over the sea. While gyms, jogging tracks, and infinity pools may sound ordinary to some people, these amenities at the Straits Residence are all overlooking the scenic blue Andaman Sea.

Level 29 facilities:

  • Jacuzzi Pool
  • Infinity Lap Pool
  • Wading Pool
  • Nursery
  • Gym Room
  • Children’s Play Area
  • Pool Deck
  • Function Room

Straits Residence Analysis

Penang stands among the top 10 most livable cities in great Asia. Penang Island records a population of about 800,000 people. The Penang International Airport is the second busiest airport terminal in Malaysia. With an urbanization level of  90.8%, Penang houses various multinational companies (MNC) with the majority of companies on mainland Penang. As one of the strongest tourist and economic hub in Malaysia, Penang is definitely a popular choice among locals and expats looking to find a home or investment opportunity in Malaysia.

Straits Residence is set to be completed by Dec 2020. With price ranging between RM 1,022,000 to about RM 1,897,000, both the 1-Bedroom and 2-bedroom suites are currently open for sales. The breakdown of the built-up sizes is 861, 1292, 1302, 1335 and 1356 square feet.

Potential investors have the ability to choose from a wide range of built-up sizes which consequently allows them to target different market niches. Since the Straits Residence is located in a luxurious neighbourhood, the price per square feet is on the higher end of the spectrum. Consequently, the target market may be more refined than other more affordable housing projects.

In addition to the different sizing available, the Straits Residence is strategically located near various amenities given that it is part of the 12-acre Straits Quay development project. The panoramic view of the sea definitely adds a flavour of exclusivity to the project.

Target Market

Due to the diverse demographics of Penang Island, Straits Residence can target both locals and expats as potential buyers. However, given the higher price tag, KPP’s local target market may comprise mostly people from the higher-income strata. Expats can also purchase a unit at Straits Residence as the minimum unit price is around RM 1,000,000.

In terms of room layout, despite having only 1- or 2-bedroom configuration, potential buyers can benefit the more spacious. Although potential buyers are limited to choosing only 1- or 2-bedroom configuration, they would not feel like living in pigeonholes given the spacious built-up size. The 1-bedroom suite would be perfect for young couples who are looking to share a unit together.

Small to medium-sized families would benefit more from the 2-bedroom layout. For small families, they do not have to worry about relocating once their family expands. Families with 2 children would live more comfortably if they opt for the larger 2-bedroom layout. However, larger families may reconsider living at the Straits Residence as currently there is no 3- or 4-bedroom configuration.

Competitor Analysis

By analyzing the transaction price trend of the recently completed properties near Straits Residence, the following are the findings:

wdt_ID Property/ Unit Type Price Size(sq ft) Price PSF Year of Completion Tenure Maintenance Fees
1 Straits Residence (Serviced Residence) RM 1,020,000 861 RM 1,180 2020 Freehold RM 0.38 psf
2 Straits Residence(Serviced Residence) RM 1,800,000 1,356 RM 1,180 2020 Freehold RM 0.38 psf
3 Straits Residence(Serviced Residence) N/A 1,335 RM 1,180 2020 Freehold RM 0.38 psf
4 Straits Residence(Serviced Residence) N/A 1,292 RM 1,180 2020 Freehold RM 0.38 psf
5 Straits Residence(Serviced Residence) N/A 1,305 RM 1,180 2020 Freehold RM 0.38 psf
6 The Penthouse (Condo/Duplex) RM 3,500,000 - RM 5,000,000 5,000 RM 438 - RM 700 2016 Freehold NA
7 The Marinox Sky Villas (Duplex / Condo) RM 819,000 1,260 RM 515 - RM 1020 2016 Leasehold RM 0.2 psf
8 The Tamarind (Condo) RM 600,000 1,042 RM 678 - RM 1,166 2019 Freehold NA
10 City Residence (Condo) RM 345,000 460 RM 776 - RM 1343 2017 Freehold RM 0.3 psf
11 The Landmark (Condo/Duplex/Shop/SoHo/Studio) RM 1,677,500 - RM 3,132,800 2,622 RM 1239 - RM 1291 2017 Freehold RM 0.4 psf

Looking at the table, it is immediately clear that most projects, apart from The Marinox Sky Villas, have freehold land tenures. Most buyers nowadays prefer a freehold unit because they want to secure properties for their future generations. In terms of current big players, KPP does not have an immediate competitor given that Straits Residence is the only upcoming project in the area.

Looking at the starting price, however, Straits Residence stands at one of the most expensive project in the area with only The Penthouse surpassing the project with a starting price of RM 3,500,000. While this may seem like a good justification for the higher price tag on the Straits Residence units, the Penthouse offers a substantially larger starting built-up size of 5000 sq ft vs Strait Residence’s meagre 861 sq ft.

Thus, as seen from the table, the relatively smaller built-up size but quite high starting price puts Straits Residence at the helm for the priciest project in the area with a price PSF of RM 1180. However, the Penthouse was completed 4 years ago, and since then, the price PSF may have increased which in turn justifies the higher price PSF of Straits Residence.

In terms of the maintenance fee, RM 0.38 psf seems justified as other projects range from RM0.20 to RM0.40 psf. However, given that the built-up size of Straits Residence is capped at 1356 sq ft, the cost per month would definitely be lower than other projects which have built-up sizes of up to 5600 sq ft.

Straits Residence’s Developer: Kerjaya Prospek Property Sdn Bhd

Kerjaya Prospek Property (KPP) is one of the most prominent property developers in the region known for their previous stellar projects that stand out due to great architectural and artistic designs.

In addition, Kerjaya Prospek Property often emphasises on integrating modernity with nature. KPP is well-known for having developed impressive projects in Klang Valley and Malacca. Marked as one of the best investment decisions in the Klang Valley are 222 Residency and 288 Residency @ Setapak, Viridian @ Cheras Idaman, Residency V @ OKR, Kaleidoscope and 100 Residency @ Setiawangsa.

The defining moment of Kerjaya Prospek Property (KPP) developers came when its Malacca mixed development project, The Shore @ Malacca River, won an award of Best Commercial Landscape Architecture in 2015/2016 from Asia Property Award. This captured the attention of Li KeQiang, Premier of the People’s Republic of China who visited The Shore at Malacca River with his delegates in 2015.

Kerjaya Prospek Property (KPP) often believes in upholding strong corporate values, management excellence, business dynamism and upholding the vision to make sure that every product and service they provide is in line with the set standards and quality. A distinctive lifestyle developer, KPP wants to change the way property development is done to something more interesting and invigorating.

There are several upcoming properties by Kerjaya Prospek Property (KPP).  Some of these include; Malaysia Grand Bazaar @ BBCC, Jalan Pudu, Bloomsvale Mixed Commercial Development, Axon at Bukit Bintang and many more.

Read more

Details
Land Title:
Residential
Tenure:
Freehold
Type:
  • Service Residence
Beds:
1 - 2
Baths:
1 - 2
Price:
RM1,000,000 - RM1,500,000
Developer:
Kerjaya Propsek Property
No. of Storeys:
28
Total Units:
246
Year Of Completion:
2020
Built-up Area (BUA):
861 ft² - 1356 ft²
Maintenance Fee:
RM0.38 psf
Amenities
  • Barbeque Area
  • Function Room
  • Gymnasium
  • Pool
  • Pool Deck
  • View

Location

Region
  • Penang,
  • Tanjung Tokong
Neighbourhood

Floor Plan

3d Tour

1-Bedroom Suite

 

2-Bedroom Suite

 

Price Trend Of the Surrounding Area

Project Search Trend

  • In Progress
From RM210,000
  • Service Residence
Beds:
1 - 3
Baths:
1 - 2
451 ft² - 998 ft²
  • In Progress
From RM850,000
  • Service Residence
Beds:
2 - 3
Baths:
2 - 4
917 m² - 1478 m²
  • In Progress
From RM482,888
  • Service Residence
Beds:
2 - 4
Baths:
2 - 5
850 m² - 2048 m²
  • In Progress
From RM464,000
  • Service Residence
Beds:
2 - 3
Baths:
2 - 3
657 m² - 1107 m²
From RM1,000,000

Unique Selling Propositions

Timeline

Decision Drivers

Connectivity
8
Convenience
9
Safety
9
Concept
8
Facilities
7
Value For Money
6
Reader Rating7 Votes
8.7
7.8

Housing Loan Calculator

Buy Your Next Home Properly

✅ Price Match Guarantee

Rest assured that you will always get the best price in the market. If you find a cheaper deal elsewhere, albeit unlikely, we will match the price!

🎁 Bonus & Rewards

We do not charge any commission or brokerage fee from our clients. Not only that, clients that purchase a home with us will enjoy some additional bonus and rewards that they wouldn’t find anywhere else!

💖 Seamless A-Z Experience

The Properly team is committed to make your property purchasing journey as effortless and pleasurable as possible!

From researching to booking, our experienced and friendly consultants will be there to assist you every step of the way.

*T&C Apply

From RM1,000,000

Join Our Inner Circle

to receive exclusive offer, hottest market news,  and get insider access to our member-only special deal!