Savills Rahim & Co. announces the launch for sale by tender, Menara Prudential in Kuala Lumpur

SINGAPORE, 14-8-2014 — /EuropaWire/ — Savills Rahim & Co. is pleased to announce the launch for sale by tender, Menara Prudential in Kuala Lumpur. Savills Rahim & Co. is the exclusive appointed marketing agent.

The subject property, a high-rise commercial building, is completed in 2000 and sits on a prime plot of freehold land with an area of 1,792 sqm (19,289 sq ft).  It is well suited for either an investment opportunity or for repurposing given its superb location and unparallel access.

Menara Prudential is located on Jalan Sultan Ismail in the heart of the “Golden Triangle” corporate district in downtown Kuala Lumpur and within a 1 km radius of the city’s most iconic landmarks. These include the Shangri-La Hotel and KL Tower to the west, Petronas Twin Towers / KLCC to the northeast, and Pavilion – the gateway to the city’s glittering shopping and hotel belt – to the southeast. Menara Prudential is also approximately 150 metres from the Jalan Sultan Ismail / Jalan P. Ramlee intersection which in recent years has become a top F&B and nightlife destination for tourists.

Given its size and strong location in the heart of the Golden Triangle, the property has superb potential for repurposing/remodeling, as has been the trend in recent years as land becomes scarcer in the city.  Jalan Sultan Ismail, long known as an iconic Kuala Lumpur corporate address, is enjoying a revival as older office buildings and hotels built in the ‘70s and ‘80s, as well as formerly halted projects, are revitalized in exciting new urban renewal developments set to alter the landscape of one of the city’s most famous thoroughfares.  With no less than 9 projects currently underway, many with skyscrapers between 40-60 stories, the skyline of this part of the city is set to completely change within the next two to six years.

Any repurposing or retrofitting initiatives will be subjected to the approval of the relevant authorities and the expiration of the property’s existing leases and tenancies.

The tender closes 26th September 2014 at 5pm.

KEY CONTACTS

Craig Ward
Senior Director Regional Capital Markets
Savills Singapore
+65 6415 7582

Adrian Seow
Associate Director Investment
Savills Singapore
+65 6415 3627