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Summit 191

June 27th, 2015 Leave a comment

summit-191

Summit 191, an upcoming high-rise development by M Summit Group in the heart of Georgetown, Penang. It is strategically located along Jalan Magazine, immediately opposite Komtar and adjacent to St. Giles Wembley Hotel.

This development comprises a 23-storey executive suites and the restoration of 5 unit 2-storey heritage shoplots. One of the most notable features of this development is its automated robotic parking system that allows you to park your car with a peace of mind.

In an automated parking, you just drive into the central loading area and park. There is no need to drive up and down ramps, no parking skill is needed and you don’t even have to remember your car parking lots. Everyone gets the chairman’s spot!

Property Project : Summit 191
Location : Georgetown, Penang
Property Type : Commercial suites
Land Tenure : Freehold
Total Units: (to be confirmed)
Built-up Area : (to be confirmed)
Indicative Price: (to be confirmed)
Developer : M Summit Group

Location Map:

[streetview width=”100%” height=”250px” lat=”5.413667″ lng=”100.32960700000001″ heading=”-157.85907823562258″ pitch=”10.38604444940641″ zoom=”0.009999999999999898″][/streetview]

Categories: Georgetown Tags:
  1. FRU
    June 27th, 2015 at 11:56 | #1

    “One of the most notable features of this development is its automated robotic parking system”

    Yes, must take note. So let’s say you left your house key in the car, and someone else is using the robot, so you just have to slowly wait for them to load their car, and then wait for your car to be unloaded, retrieve your house key, then load your car again. Right?

    So when the robot breaks down, that means you can’t have your car, have to slowly wait for the technician to come, fix it, then only you can have your car. That’s at least 2 hours if you’re lucky, if the technician ever turn up at all (msian standard). By then, maybe your kids already miss their school or tuition?

    In fact, this system is nothing new. Penang Plaza office building has the same system, which was installed 20 years ago. My advice, avoid this.

  2. Edward chengkc
    June 27th, 2015 at 15:19 | #2

    pm [facebook: Edward chengkc] me details later if details are available, I am interested, thanks

  3. Vince Hng
    June 27th, 2015 at 19:08 | #3

    I’m interested

  4. Quinn
    June 27th, 2015 at 23:15 | #4

    pls pm me, quinnkoh@gmail.com

  5. Quinn
    Quinn
    June 28th, 2015 at 11:00 | #5

    I’m interested too , pls pm me

  6. Alex
    June 28th, 2015 at 22:12 | #6

    I want buy one unit. Please email me at alex_lee_889@hotmail.com

  7. Roland
    June 29th, 2015 at 06:36 | #7

    Rm1200 psft…..not worth buying.

  8. IsaacTan
    IsaacTan
    June 29th, 2015 at 09:44 | #8

    Wow…Penang is getting all the fancy thingy.
    Really Penang is developing

  9. fiona
    June 29th, 2015 at 11:18 | #9

    @IsaacTan

    What fancy thingy?

  10. Burong
    June 29th, 2015 at 14:20 | #10

    If they install such robot, it is an in thing and will draw attention of Malaysian.

    The system is standard thus won’t break down easily and will have plan B, C if it break down. But if it really jam and create issue, there goes the value of the condo. So you need to pray for it to be stable and no super clever technician in bypassing some of the features inside.

    Happy investing.

  11. cat
    June 29th, 2015 at 15:10 | #11

    we was been invited to the preview project presentation, the project are Office suite and not resident house, is a potential investment development in Penang. From the presentation the developer had study all the necessary happening on the car park tower. This mechanical are used in Japan for many year.

  12. Dickson
    June 29th, 2015 at 17:16 | #12

    no wonder they had all hawkers moving away.

  13. Roland
    June 29th, 2015 at 18:22 | #13

    Nevertheless, at rm1200 psft which idiot would pay for it. You won’t even get the rental yield you are looking for and for price appreciation, slowly wait for another 10 years.

    Even quayside resort the best condo in Penang with a 4.5 acres water park is going for rm1200 psft, foreigners buying and renting.

    Let me ask you, which foreigner would want to stay in a jam and noisy area. You think they would buy because of a mechanical car park system? Only idiots or the super too much money do not know what to do will end up buying.

  14. Feikoh
    June 29th, 2015 at 22:24 | #14

    negative people only see problem…..

  15. GST
    June 29th, 2015 at 22:58 | #15

    @Roland

    Quayside is overrated, interior all same. Many units still looking for foreigners to buy or rent since OC two years ago.

    Summit 191 at least can do short term rent.

  16. fuki
    June 29th, 2015 at 23:04 | #16

    @Feikoh

    positive people always get cheated by developers….

  17. Ikuf
    June 30th, 2015 at 10:46 | #17

    @fuki
    Negative people forever cant be success and only know to comment duno to action

  18. Rain
    June 30th, 2015 at 11:20 | #18

    @FRU

    Oh yes, you are right. Penang Plaza has this automated parking system installed many donkey years ago. Looks very troublesome to park your car.

  19. Roland
    June 30th, 2015 at 17:58 | #19

    I am stating facts. If you go Quayside, majority foreigners there. I think this summit 191 is overrated. You don’t even have a 4.5 acres water park to start with.

    Only idiots would pay rm1200 psft for that.

    Short term stay? It is next to St Giles and opposite it hotel Jen, behind hotel Neo and hotel Cititel. Hotel Neo renting for rm150 only and it’s new and nice with breakfast. How much can you rent? Rm100? You pay rm1200 psft, you rent for 20 years also cannot get back your ROI. Not to mention it is a serviced apartment with commercial electricity and water rates. Monthly payment for utilities also can run up to rm500-1000 if your tenant on air con 24/7….

  20. Roland
    June 30th, 2015 at 18:01 | #20

    If really can do short term stay, the developer would build the hotel there and not sell it as a SOHO. Look at 118@island plaza, also cannot survive. Only idiots would end up paying so much for this project.

    Developer smarter than you, faster sell to idiots instead of doing hotel.

  21. froggy
    June 30th, 2015 at 18:18 | #21

    @Roland

    Hmm, I think you have a point. Thanks for the analysis.

  22. cat
    June 30th, 2015 at 19:01 | #22

    @Roland
    the project of 118 at island plaza not in the mid of town…. look at St. Giles and Jen hotel, it was always fully book. the important is the location.

  23. Roland
    June 30th, 2015 at 19:10 | #23

    @cat
    Then developer should build as hotel. Why sell….Neo hotel rent for rm150 only. You pay rm1200 psft for a unit and you want to rent for how much? Fully booked? You go agoda now, plenty of rooms available. Developer smarter than buyer, if they think can rent out they won’t sell to you, they faster sell already and take your money and rent a room at hotel Neo instead….lol

  24. Roland
    June 30th, 2015 at 19:16 | #24

    If developer sell for rm800 psft then I say good buy but now it’s rm1200 psft. Must do your calculation. Even with guaranteed returns also not worth it. What developer do is take your money first then manage for you but the truth is they take your money and slowly give it back to you and at the same time make money from renting the room. In the end, loser would be buyer. Just like the project by Angsana teluk bahang, guaranteed 5% for 3 years but sell at rm1800 psft. With that price I also can guarantee lar…

  25. drip
    June 30th, 2015 at 23:55 | #25

    Hi Roland,

    Thanks for putting things in the right perspective and sharing with all. Appreciate your opinion.

  26. PC
    July 25th, 2015 at 19:24 | #26

    Is the project already approved? When is the opening for register? I think thos project is for those oversea Mat Salleh.. Or too rich ppl =.=”

  27. Sungai pinang
    October 14th, 2015 at 12:45 | #27

    I saw piling started already. Mppp approved already. So fast.. Who is the buyer? Unbelievable..

  28. Summit
    December 31st, 2015 at 19:36 | #28

    Piling done.. Tower train up already..2year++ from now i think can completed.. I believe is singaporean..sapu all.. Even our georgetown pre war house more than 100 unit already in singaporean hand.. Soon.. All all penang ppl need close shop..& rent with singaporean..

  29. Christ
    January 1st, 2016 at 08:27 | #29

    Can anyone share how many unit each floor?

  30. Ben
    January 5th, 2016 at 17:32 | #30

    It is 6 units per floor and total is 96 units.

  31. INvestor
    January 22nd, 2016 at 17:03 | #31

    RM1200/sqf…fully furnite suite..it comes with 6% rental yield very interesting project.
    Just the location by itself is worth the money.

  32. Daniel Lim
    April 4th, 2016 at 23:58 | #32

    Hi,

    I am interest in the new project along Jalan Magazine .
    Kindly email or call me .I am currently in PG.

    6011 2008 4183

    Thank you.

  33. gooner
    June 27th, 2016 at 21:51 | #33

    @INvestor
    By rental yield is it constant? What if no one rents your unit?

    Does it mean that a management company would manage the condo and rent out to customers and give rental fee to owner of each units?
    What if your particular unit has no tenant/customer for months?Do you still get the 6%?

  34. engjoo
    June 6th, 2017 at 22:02 | #34

    Are there any high units?

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