Techvance Properties Management Sdn Bhd proposed to convert the 13-storey office building known as Ambank Group Leadership Centre located at Jalan P. Ramlee into a 26-storey hotel.
The building was acquired by Techvance Properties Management Sdn Bhd in Dec 2015 for RM36 mil. The seller was AmFIRST Real Estate Investment Trust (REIT). The freehold building, sits on a 0.35-acre of prime land near iconic KL Tower. The original 13-storey building has a net lettable area (NLA) of 57,801 square feet. In the redevelopment proposal, the new owner plans to increase the number of floors to 26-storey, with 180 hotel rooms occupying Level 11 – 23, restaurants at Level 6&7, gymasium and spa at Level 24 and a rooftop pool at Level 25. The brand of the hotel is not known yet.
Lot no: Geran 6312, Lot 1153, Section 57, Town and District of Kuala Lumpur, State of Wilayah Persekutuan
Land area: 0.35-acre
Net Lettable Area: 57,801 sq.ft
Transaction price: RM36 mil (RM622.83 psf of NLA)
Date of transaction: 15 December 2015
Vendor: AmFirst Real Estate Investment Trust
Purchaser: Techvance Properties Management Sdn Bhd
Note: Building was valued by Chester International (KL) Sdn Bhd on 30 September 2015 at RM30 mil.