The Loft is a freehold, high-end condominium located in Batu Maung, Penang. It is a project by Vienna View Development, which is a member of the Mah Sing Group. Development is scheduled to be completed in the year 2017.The Loft is built in two blocks, each block having 30 storeys. There are only 4 layouts, and layouts A to C comes either with a private garden, or without. And then, there's layout D which is for the penthouse. Units either come with 3 bedrooms, or 3+1 bedrooms. Built-ups of the units range from 1,378 sf up to 5,963 sf. The units with private gardens are very limited and would be housed on floor 3A only.The Loft features a very low unit density, with only 78 units per tower, meaning that there is only 3 units per floor serviced by two dedicated lifts. Units in the Loft comes with a high ceiling, designed to have optimum levels of ventilation and natural light. The units also promise a panoramic view of the Penang waterfront, with breathtaking views all round.The facilities in The Loft are located on 2.5-acre deck on level 15, which includes a sky gym and a reading lounge overlooking the beautiful views of Penang. The lounge and the gym on the 15th floor would be connected via the sky bridge. The swimming pool on the ground floor, named The Cascade, would consist of three-tiers which cascades set amidst lush greenery. There would also be a pool with bar seating, a children's pool, playground, and a multi-purpose room. The premises would also be gated and guarded, with CCTV surveillance, card access security system, and 24-hour patrol.The Loft is located in Batu Maung, the southern part of Penang island. Though it is generally conceded that Batu Maung is less developed, there are many amenities accessible with a short drive. Within 10 kilometers, there is the Giant Hypermarket, Sunshine Square, Bukit Jambul Shopping Complex, Queensbay Mall, and Tesco Extra. Hospitals nearby include the Pantai Hospital, and the Pearl Maternity Hospital Penang. Schools nearby include SMK Batu Maung, SRK Batu Maung, SRJK Wen Chai, USM Penang and Inti International Colege, all of which are within a 10-kilometer radius.The Loft is situated in Bayan Lepas, which is highly accessible now that the Second Penang Bridge is done and due to be opened on January 2014. The location is also situated along four main roads and highways, which are Jalan Batu Maung, Jalan Permatang Damar Laut, the Second Link Bridge, and the Tun Dr Lim Cheong Eu Expressway.
Property Details
Name: The Loft Address: Batu Maung, Penang Developer: Vienna View Development (a member of Mah Sing group) Completion Date: 2017 (estimate) Type: Condominium Tenure: Freehold No. of Blocks: 2 No. of Storey: 30 No. of Units: 156 No. of Bedrooms: 3 - (3+1) No. of Bathrooms: 3 Land Area: 3.71 acres Built-up: 1,378 - 5,963 sf Maintenance Fee: Launch Price: From RM900 psfLayouts
Type A1 3+1 bedrooms + private garden (3,283 sf) Type B1 3+1 bedrooms + private garden (3,283 sf) Type C1 3 bedrooms + private garden (2,056 sf) Type A 3+1 bedrooms + foyer (1,680 sf) Type B 3+1 bedrooms + foyer (1,604 sf) Type C 3 bedrooms + foyer (1,378 sf) Type D Penthouse (5,963 sf)Facilities
Gymnasium Children's playground Wading pool Reading room Multi-purpose room Pool with bar seating 2.5-acre recreational decks 3-tier cascading pool Lounge with sea viewAnalysis
Mah Sing Group has had over 18 years of experience developing high-end residential properties. Southbay City is the developer's biggest project in Penang, with a Gross Development Value (GDV) of RM1.3 billion. They are also behind notable projects in Kuala Lumpur including M City and M Suites which is located on Jalan Tun Razak, Embassy Row. They also have a stake in Mont Kiara, with Icon Residence.The Loft then, caters more to a very niche market of luxury properties that the general public has a tendency to avoid. It has a high entry price, with units priced at RM1 million at least. But the potential for appreciation is definitely there with the Second Penang Bridge opening up coming January. As of now, many agree that Batu Maung cannot command a price of RM900 psf, therefore many are reluctant to enter the game as an investor. Those that are making the Loft their new home should have no worries though, as the views really are incredible. The marketing people did get the motto right; "The Loft, where the coast is always clear"
