GEORGE TOWN: AN iconic century-old colonial building in the heritage enclave here, which houses a branch office of the Royal Bank of Scotland (RBS), is up for grabs.
The two-storey premises at 9, Lebuh Pantai, will be offered for sale by tender, starting next Monday. The one-month tender period ends on Dec 18.
Christopher Boyd, the executive chairman of CB Richard Ellis (M) Sdn Bhd, which has been tasked with selling the building, said the tender was a rare opportunity to buy a slice of George Town’s history.
Boyd said the building was being put on sale because RBS had decided to consolidate its business operations.
“This is a very rare asset and for the first time a vintage, well-maintained building has been offered for sale by tender in Penang for more than a century,” he said.
“We will not put a starting price for the building as it is not involved in any foreclosure process.
“The building has ample space to house either a boutique hotel, restaurant or even an art gallery.
“It is safe from demolition, with the facade and interior features very much intact.”
Boyd said it would appeal to investors from Singapore, Hong Kong, Taiwan and Europe.
The building, which opened in 1905, has a built-up area of about 1,300sq m and a facade which features a series of arches and keystoning.
It is expected to be sold for not less than RM15 million.
The Netherlands Trading Society commissioned the building in 1904 under the architectural consultancy of Wilson and Neubronner.
In 1964, the society formed the ABN Amro Bank through merger with other financial institutions.
Dutch consultants from the head office in the Netherlands were commissioned to carry out a total refurbishment of the premises.
Penang Heritage Trust secretary Clement Liang applauded the move by the building owner to sell the premises in its original state.
Liang said he was relieved that the majestic building was spared from demolition.
“The historic building is a class one category property under heritage conservation. Its owner has made a sensible decision to retain its current structure,” he said.