Sri Pangkor is a 10 years old condo which was developed by IJM Properties, a subsidiary of IJM Corporation. It is located at the corner between Pangkor Road and Kelawei Road in Pulau Tikus area.
Sri Pangkor consists of two 5-storey low rise blocks and one 30-storey high rise block has a total of 171 units, with 165 units being the standard type and the remaining 6 units being the penthouse type. The standard units have built-up areas ranging from 1,820 sf to 2,310 sf. As for the penthouse units, the built-up areas are between 3,910 sf and 5,940 sf.
Sri Pangkor is easily accessible via major roads within Penang Island namely Kelawai Road, Burma Road, Bagan Jermal Road, and Tanjong Tokong Road. This leasehold condo is also close to many amenities such as cafÃ© and restaurants, shopping malls (Gurney Plaza, Island Plaza, One Stop Shopping Centre), hospitals (Gleneagles Medical Centre, Penang Adventist Hospital, Tanjong Medical Centre), schools (Penang Chinese Girls High School, Convent Pulau Tikus, St. Nicholas School), churches, temples, mosque and many others.
When one travels along Pangkor Road heading either towards Kelawei Road or Northam Road (Jalan Sultan Ahmad Shah), Sri Pangkor would be easily noticeable on the left side of the road.
More often than not, buyers are intimidated to purchase properties especially if those properties are developed by unknown or less popular developers. Buyers probably need not worry so much about Sri Pangkor, as the developer has many proven track record of successful projects, with Sri Pangkor being one of them. IJM Properties’ good reputation in local, as well as foreign market, has truly demonstrated its credibility, particularly in terms of the building’s quality.
These days, buyers often scout for freehold properties. As Sri Pangkor is a leasehold development with tenure of 129 years, it appears to be less favorable among property buyers. When compared with other developments within the same area, the leasehold status is indeed a drawback to this condo as the other nearby properties is mostly freehold developments. This would certainly have an impact on the demand for this condo particularly for those who are looking for properties for own stay.
Sri Pangkor is a low density development as it only has a total of 171 units with a max of six units on each floor for the standard units at low rise block and five units per floor for the standard units at high rise block. With its low density status, privacy of residents is certainly assured.
Even though Sri Pangkor itself is a low density project, one should take note that the whole area is considered as densely populated as there are many other high rise developments at the surrounding areas like Persiaran Gurney and Kelawei Road.
With the rising population at this particular area, it will definitely aggravate the existing heavy traffic flow issue. Thus, potential buyers should be aware that traffic congestion is a norm, as Sri Pangkor is located close to the popular stretch, Gurney Drive (Persiaran Gurney) and the narrow yet congested Kelawei Road.
Apart from that, during public holidays particularly special celebrations such as Thaipusam and Wesak Day, the religious processions and chariots would normally pass by Pangkor Road. To certain people, it is a golden opportunity to be able to witness such a colorful celebration in Penang. However, some other people might not be comfortable with the fact that there would be road closure and the whole area would be crowded with people as well as traffic congestion at surrounding areas.
A few years back, the local government had proposed to build the Penang Outer Ring Road (PORR), an elevated expressway which connects Gelugor (near Penang Bridge) to Tanjung Bungah on Penang Island with the intention to cut down traveling time. However, if it was constructed, all developments along Gurney Drive would be blocked by it. As Sri Pangkor is located near to Gurney Drive, it would also be affected if the local government were to proceed with the proposal.
According to the PORR’s initial route plan, it would be built exactly beside the Persiaran Gurney 1 condominium and crosses directly in front of other condos along Gurney Drive. Even though the PORR has been postponed indefinitely, potential property buyers should take note that there is high possibility of this project being revived in the future.
In view of pricing, Sri Pangkor has been rated as being under the expensive category. Many reckon that for a 10 years old leasehold property, one could easily find other new developments with the same value. However, as this property is located at a prime location within Penang Island and also well maintained and still look very new. Sri Pangkor’s location would be an excellent factor for investment purpose.