Freehold site in Kuala Lumpur with hotel redevelopment potential for sale at RM65 mil
The location is positioned in a prime area inside Kuala Lumpur’s Golden Triangle, which encompasses the metro’s economic hub as well as its primary shopping and night life regions. 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 eastern and Jalan Yap Kwan Seng and Jalan Tun Razak in the northeast. It is likewise near primary commercial parts and visitor destinations. It is less than 2km from Suria KLCC, among Kuala Lumpur’s noticeable mall, and just 900m from Pavilion Kuala Lumpur, a leading deluxe retail destination.
With its strategic location, redevelopment capability and the possibility to partner with seasoned lodging operators, the site gives a prime financial investment opportunity to capitalise on Kuala Lumpur’s tourism market in one of its most promising spots.
The site offers an excellent chance for capitalists, particularly Singaporean investors that are wanting to endeavor into the Kuala Lumpur hospitality market due to the favourable exchange rate and reasonably reduced entry price, he proceeds. “With an overall financial investment of less than RM200 million ($ 60 million)– factoring in land acquisition and enhancement prices– investors can establish a premium resort in a desired place.”
Kassia Condo showflat location
Nearby, the popular Jalan Alor Food Street lies less than 500m from the Changkat Bukit Bintang area. This dynamic evening market includes rows of outdoor food stalls and restaurants, providing a diverse mix of nearby and global foods.
Hon adds that the site actually has interested operators looking to manage the hotel. “If the site is accredited for hotel redevelopment, the future proprietor can be connected with hospitality managers who are reputable in the market and have displayed interest in supervising it.”
The site’s proximity to business and vacationer attractions makes it perfect for hotel redevelopment, attracting both business tourists and vacationers, states Hon. With a plot ratio of 8, he estimates that the future resort might fit approximately 252 spaces, with lobby and establishments across 35 floors and a basement, pending approval from the relevant authorities.
A freehold business area on 290 Jalan Raja Chulan in Kuala Lumpur, Malaysia, has already been put up for sale at RM65 million, or around $20 million. With an acreage of 20,309 sq ft, this works out to approximately RM3201 psf ($ 985 psf).
The regular-shaped site 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 Realty, who is promoting the property.
Strategically situated within a commercial workplace location, the site is located in between two office buildings, Wisma Goldhill and Wisma MPL. Many hotels are positioned close by, including the Holiday Inn Express Kuala Lumpur City Centre across the road and Parkroyal Serviced Suites Kuala Lumpur.
The Changkat Bukit Bintang area, a vivid leisure district in Kuala Lumpur, is simply a stone’s throw from the site. This area brings in a different variety of tourists, from locals to vacationers, with its mix of contemporary stylish and historical appeal. The network of streets and streets attributes columns of pre-war structures turned right into upscale clubs and restaurants.
