Freehold site in Kuala Lumpur with hotel redevelopment potential for sale at RM65 mil
The location is located in a prime location throughout Kuala Lumpur’s Golden Triangle, that encompasses the city’s financial center as well as its primary purchasing and night life areas. This place stretches from the junctions of Jalan Raja Chulan and Jalan Tun Perak in the southwest to Jalan Bukit Bintang and Jalan Tun Razak in the east and Jalan Yap Kwan Seng and Jalan Tun Razak in the northeast. It is additionally close to main business areas and visitor destinations. It is less than 2km from Suria KLCC, among Kuala Lumpur’s popular shopping center, and simply 900m from Pavilion Kuala Lumpur, a leading high-end retail area.
An estate business site on 290 Jalan Raja Chulan in Kuala Lumpur, Malaysia, has already been offered at RM65 million, or around $20 million. With an acreage of 20,309 sq ft, this works out to around RM3201 psf ($ 985 psf).
Aurelle of Tampines showflat location
Strategically positioned inside a business office location, the site is located in between two office buildings, Wisma Goldhill and Wisma MPL. Various resorts are positioned close by, including the Holiday Inn Express Kuala Lumpur City Centre in front of the street and Parkroyal Serviced Suites Kuala Lumpur.
With its strategic location, redevelopment potential and the chance to associate with experienced hotel operators, the site gives a prime investment opportunity to capitalise on Kuala Lumpur’s tourism market in among its most promising locations.
The site’s distance to commercial and visitors attractions turns it into optimal for hotel redevelopment, attracting both business travellers and vacationers, says Hon. With a plot ratio of 8, he determines that the future hotel might suit up to 252 rooms, with lobby and facilities throughout 35 floors and a basement, pending approval from the appropriate authorities.
Hon adds that the site actually has interested operators seeking to manage the resort. “If the site is accredited for hotels and resort redevelopment, the future owner can be linked up with hospitality operators who are reputable in the marketplace and have shown interest in supervising it.”
The regular-shaped location is being made use of as a carpark. The proprietors are placing the property up for sale as they reassess their portfolio, mentions Hon Kah Yick, vice president of Master Property, who is promoting the real estate.
Nearby, the widely known Jalan Alor Food Road is located less than 500m from the Changkat Bukit Bintang area. This lively night market includes rows of exterior food stalls and restaurants, providing a different mix of local and international cuisines.
The Changkat Bukit Bintang region, a lively entertainment district in Kuala Lumpur, is just a stone’s throw from the site. This area draws in a various variety of tourists, from residents to visitors, with its mix of contemporary stylish and historical appeal. The network of alleys and streets features columns of pre-war buildings transformed right into high end bars and dining establishments.
The site presents an excellent chance for investors, specifically Singaporean capitalists that are seeking to endeavor right into the Kuala Lumpur hospitality industry due to the favourable exchange rate and relatively low entry charge, he proceeds. “With a complete financial investment of less than RM200 million ($ 60 million)– considering land investment and innovation prices– investors can establish a high-quality resort in a desired area.”
