1.0           INTRODUCTION

Jones Lang Wootton (JLW) (“Vendor’s Agent”) is representing Martego Sdn. Bhd. (“Vendor”), the registered owner of two (2) parcels of freehold land held under Geran Title No. 74863 Lot 11385 Seksyen 57, measuring approximately 973 square meters (“Lot 11385”) and No. 74862 Lot 11386 Seksyen 57, measuring approximately 6123 square meters (“Lot 11386”), both in City Kuala Lumpur, District of Kuala Lumpur, State of Federal Territory of KL, and the location as detailed in (collectively referred hereinafter to as the “Property”), in the sale by tender of the Property.

The Vendor has obtained a Development Order from Dewan Bandaraya Kuala Lumpur (DBKL) (D.O) on 19 June 2007 for an increase of density to 1,461 persons per acre, a D.O on 26 March 2008 for the development of 879 condominium units and an amended D.O on 10 Oct 2019 for 879 condominium units based on a density of 1,138 persons per acre. A partially constructed podium and car park structure is erected on Lot 11386 whilst Lot 11385 is surfaced and operated as a car park.

The Vendor is inviting proposals to purchase the Properties from potential purchasers (“Tenderers”) who can seize the opportunity to develop the Property. 

2.0           PROPERTY PROFILE

2.1           Location

The Property fronts onto Lorong Perak with a return frontage to Jalan Changkat Perak.  Lot 11385 and Lot 11386 are separated by a drain reserve.

Lorong Perak is easily accessible from Jalan Sultan Ismail and Jalan P. Ramlee, primary roads within the Kuala Lumpur city centre. Jalan P. Ramlee leads into Kuala Lumpur City Centre (KLCC) where the Petronas Twin Towers, Suria KLCC, Mandarin Oriental Hotel and other landmark office buildings are located.

Lot 11386 is located on the northern boundary of Lorong Perak and eastern boundary of the Crown Regency Serviced Apartment building which fronts onto Jalan P. Ramlee, whilst Lot 11385 is located north of Lot 11386 fronting Jalan Changkat Perak on its western boundary.

Lorong Perak also provides egress from Concorde Hotel and Menara IMC. Jalan Changkat Perak which allows for one-way traffic, provides access to Park View Condominiums and an alternative access to the Malaysia Tourism Centre which also fronts onto Jalan Ampang.

2.2           Description

The Property comprises two (2) parcels of freehold land i.e. Lots 11385 and 11386 which are separated by a drain reserve. The drain reserve is currently covered and being used as an extension of the car park on Lot 11385.

(i)     Lot 11386 has a splayed frontage of about 149 feet to Lorong Perak and about 123 feet return frontage to Jalan Changkat Perak.

3.0      DEVELOPMENT APPROVAL

In October 2019, D.O. was issued to amend the D.O dated 26/3/2008 on Lot 11386 and Lot 11385, Changkat Perak, KL.

This D.O was for 2 blocks of 50-storey and 1 block of 46-storey (804 units) on a 7-storey podium block with 1 basement floor and 1 block of 27-storey (75 units) in 4 phases. The permitted number of units was amended to not exceeding 879 units based on a density of 1,300 persons per acre and car park provision of 967 bays.