Commercial Building Kl Sale 125 Mil
According to a recent press release by marketing agent ERA Realty Network, a commercial building located on Jalan Tuanku Abdul Rahman in Kuala Lumpur City Centre is now available for sale by private treaty. This 10-storey building, which is freehold, has an asking price of approximately $12.5 million.
Situated in a prime location, Otto Place EC offers more than just a home for families with younger children. With its close proximity to renowned junior colleges and tertiary institutions, it is the ideal residence for families with teenagers or young adults pursuing higher education. Located nearby is Jurong Pioneer Junior College, known for its excellent academic programs and vibrant student life. This college provides a dynamic learning environment that prepares students for success in university and beyond. Similarly, Millennia Institute offers a three-year A-Level program that caters to students looking for a well-rounded academic foundation. These institutions are further complemented by the presence of Nanyang Technological University (NTU), one of the world’s top universities. NTU’s global reputation for excellence in fields such as engineering, business, and humanities ensures that Otto Place EC residents have access to top-tier tertiary education just a short drive away. Furthermore, families with working adults or individuals pursuing part-time studies can benefit from the amenities of Singapore University of Social Sciences (SUSS), which specializes in applied and flexible learning programs. With its strategic location and access to renowned educational institutions, Otto Place adds another layer of convenience and value for its residents. For more information, visit Otto Place’s website.
Sitting on a land area of about 6,533 square feet, this building was approved for commercial and hotel development with a maximum floor area of 62,547 square feet. This translates to a price of $200 per square foot. Previously, the property operated as a hotel before being converted into a commercial and retail building by the current owners.
The building boasts a prime location on the historic Jalan Tuanku Abdul Rahman, known for its pre-war buildings housing popular eateries and shops selling fabric, textiles, and other goods. It is also in close proximity to landmarks such as the Sogo Shopping Complex, Menara DBKL, and Menara UOB, as well as popular tourist destinations like Chow Kit and Petaling Street.
Donald Goh, director of capital markets and investment sales at ERA, believes that this building presents an excellent opportunity for investors or end-users to acquire a highly sought-after commercial property in a bustling city center location that attracts both locals and tourists. He also suggests that investors consider converting the property into a hotel to cater to Malaysia’s growing tourism industry.
For further information and listings of Commercial Real Estate properties, interested parties can visit the ERA website. They can also use the Ask Buddy feature to compare past commercial sale and rental transactions, price trends, and view listings for commercial and industrial properties.