Boustead Tower
| Boustead Tower | |
|---|---|
 | |
 | |
| Former names | PSCI Tower |
| General information | |
| Address | 39, Northam Road, 10400 George Town, Penang, Malaysia |
| Town or city | George Town, Penang |
| Country | Malaysia |
| Coordinates | 5°25′29″N 100°19′31″E / 5.42464°N 100.32533°E |
| Opened | 1994[1] |
| Owner | Boustead Holdings |
| Height | |
| Top floor | 21 |
| Technical details | |
| Floor count | 21 |
| Grounds | 71,817 sq ft (6,672.0 m2)[1][2] |
Boustead Tower, formerly known as PSCI Tower, is an office building within George Town in the Malaysian state of Penang. Located at Northam Road within the city's Central Business District (CBD), the 21-storey building was completed in 1994.[3][1] It was sold to Boustead Holdings in 2006. Apart from Boustead, IWG plc is one of the major tenants of the tower.
History
[edit]The building, originally named PSCI Tower after its owner, Penang Shipbuilding and Construction Industries (PSCI), was completed in 1994.[1] It comprises a 21-storey office block with a five-storey car park annex on a 6,672 m2 (71,820 sq ft) plot of land.[1][2]
In 2006, PSCI sold the building to Boustead Holdings for RM54 million due to mounting debts.[2][4] The building has since become home to both governmental and private tenants.[3] In 2017, IWG plc established a 10,700 sq ft (990 m2) business centre under the Regus brand within the tower, making it the company's third office in Penang after Bayan Lepas and Gurney Paragon.[5][6] However, reports in 2020 indicated that Boustead planned to sell the building as part of its asset rationalisation.[7]
See also
[edit]References
[edit]- ^ a b c d e "PSCI Annual General Meeting 2006" (PDF). PSCI. 2006 – via National University of Singapore.
- ^ a b c "Annual Report 2008" (PDF). Boustead Heavy Industries Corporation. 2008.
- ^ a b "Property Management & Investment". Boustead. Retrieved 2024-10-09.
- ^ "PSCI sells building in Penang to lower debts". The Star. 7 Nov 2006. Retrieved 10 Oct 2024.
- ^ "Penang's GDP may surpass national average: Guan Eng". The Sun. 7 Dec 2017. Retrieved 10 Oct 2024.
- ^ "Penang has confidence of businesses". Buletin Mutiara. 11 Dec 2017. Retrieved 10 Oct 2024.
- ^ Ganesan, Vasantha (2 Sep 2020). "Boustead steps up asset sales". The Edge. Retrieved 10 Oct 2024.