One One Eight is a lucky number in the Chinese language which means to prosper everyday; or in this case it refers to the the SoHo commercial suites at Island Plaza in Tanjung Tokong, Penang. It is a freehold piece of property that was remodelled from the previous Island Plaza Tower lots, and its developer is Omega Moments.One One Eight consists of only 1 block of buildings that stands 12 storeys high close to the sea. There are only 106 units available, placing it at an average of 8 units to a floor with built ups that range between 484 sf to 1,162 sf; and depending on the built up, each unit has between 1 bedroom to 3 bedrooms. The lowest selling price for these units are RM680,000 while rental begins from RM2,500. Considering that most of the units at One One Eight were previously tenanted, many of the units being sold are either partially or fully furnished. The partially furnished ones are mostly already equipped with kitchen cabinets, hoods and hobs and an assortment of built in furniture. Interested buyers will need to take note of the furnishings of the unit before they pay the price to ensure that they got the best of the deal. Some of the units have direct sea fronting views as well which gives the unit a higher value.As this is not a residential place but a commercial one, One One Eight does not come with swimming pools, Jacuzzi, sauna or the usual condominium facilities. However what they do come with is even better depending on the person's perspective of the matter. As the ground floors are retail shops, there is the Cold Storage supermarket, Coffee Bean café, nail spas, beauty salons, Japanese restaurants and such. Imagine living on top of a shopping mall, and you will get the picture.When residents get bored of their surroundings at One One Eight, they will be able to hop out of their SoHo units and take a leisurely drive down to Gurney Drive or Georgetown, both of which are food hubs that come with their own array of shopping malls, schools, medical centres, banks, restaurants and everything a person could need.Driving out will be convenient as residents of One One Eight are well connected by the main road Jalan Tanjung Tokong outside their SoHos, that connect to Jalan Kelawei, Jalan Bagan Jermal and also directly to Gurney Drive. Public transportation can be obtained on Jalan Tanjung Tokong as it is a heavily travelled road and many cabs pass through here.
Property Details
Name: One One Eight Address: 118, Jalan Tanjung Tokong, 10470 Tanjung Tokong, Penang Developer: Omega Moments Type: SoHo Tenure: Freehold No. of Blocks: 1 No. of Storey: 12 No. of Units: 106 No. of Bedrooms 1 - 3 Built-up: From 484 sf Subsale Price: Rental: Analysis
One One Eight is certainly placed in an excellent location. It is close to the city and most importantly on the way into the city as well, making it a convenient stop point for any business transaction. Traffic congestion will be inevitable due to the large number of vehicles that travel to and fro the city; but as a business centre, congestion should symbolise prosperity. The neighbourhood is certainly targeted towards the upper middle class. What was not that long ago a quiet and sleepy town has somehow grabbed the attention of developers and more and more high end developments are being produced in the area boosting its image and prestige.As its description indicates, One One Eight is supposed to be a SoHo, a Small Office / Home Office development. Therefore it can either be used as a cool and trendy home with a shopping mall downstairs or as an office. As an investment this place certainly bears interest, and as a permanent home; it really depends on a person's preference on whether they wish to live on top of a shopping mall or not.
