Property Prices in Jalan Kia Peng transactions | British High Commission RM295mil(134,075 sq ft) | 14 Persiaran Stonor RM72mil(43,082 sq ft)
VulcanInternational: We've a piece of this kind of prime land at Jalan Raja Chulan, Kuala Lumpur with asking price of RM1,200 per sq ft. Interested please contact Vulcan Lau, mobile: +6 016 451 1321
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KUALA LUMPUR: It has long been an iconic landmark in the prestigious Jalan Kia Peng area. However, the sprawling residence of the German ambassador, well known for its huge receptions and cocktails, will soon be no more.
The 80,000 sq ft plot on which the residence stands is being put up for sale.
Interested bidders will need deep pockets – the asking price is a whopping RM200mil.
There will be no shortage of bidders, though, going by the interest generated by the sale of the British chancery located a stone’s throw away in Jalan Ampang. It was was sold for RM294.97mil last year.
The German Embassy’s head of the cultural and press department Kathrin Heidl confirmed that the German Foreign Ministry had decided to give up the landed property.
She said the embassy would process the sale with the assistance of an agent.
The residence is now empty following the departure of Ambassador Dr Guenter Gruber on June 30.
Heidl said Gruber’s successor, Holger Wilfried Michael, would move into a rented property at Jalan Langgak Golf when he arrives on Aug 9.
The bungalow, resembling a clubhouse with a pitched roof, was built in such a way that the various portions of the house are seamlessly connected to each other, with huge rooms and entertainment areas.
Guests were able to move from one area of the house to another while the private quarters remained out of bounds.
The sale signals the changing sign of times for the local diplomatic corps.
Many of the larger missions prefer to sell off their landed properties and move into high-rise buildings.
Besides raking in a huge profit, there is also the advantage of added security available at the high-rise buildings and huge savings in terms of maintenance cost.
The British High Commission will be relocated to the nearby high-rise Menara Binjai.
A property agent said the Germans may be selling the grounds for the same reason as the British. “They want to monetise the land,’’ he added.
Land prices in the Kuala Lumpur City Centre (KLCC) area have stabilised and continue to generate interest from foreign parties from Singapore, Japan, South Korea and Taiwan.
Several land deals in the KLCC area last year were clinched within RM1,600 to RM1,700 per sq ft.
Pic below: Bungalow belonging to the German Embassy in Kuala Lumpur at Jalan Kia Peng put up for sale with asking price of RM200 mil or RM2,500 per sq ft.
VulcanInternational: We've a piece of this kind of prime land at Jalan Raja Chulan, Kuala Lumpur with asking price of RM1,200 per sq ft. Interested please contact Vulcan Lau, mobile: +6 016 451 1321
___________________________________________________________________
KUALA LUMPUR: It has long been an iconic landmark in the prestigious Jalan Kia Peng area. However, the sprawling residence of the German ambassador, well known for its huge receptions and cocktails, will soon be no more.
The 80,000 sq ft plot on which the residence stands is being put up for sale.
Interested bidders will need deep pockets – the asking price is a whopping RM200mil.
There will be no shortage of bidders, though, going by the interest generated by the sale of the British chancery located a stone’s throw away in Jalan Ampang. It was was sold for RM294.97mil last year.
The German Embassy’s head of the cultural and press department Kathrin Heidl confirmed that the German Foreign Ministry had decided to give up the landed property.
She said the embassy would process the sale with the assistance of an agent.
The residence is now empty following the departure of Ambassador Dr Guenter Gruber on June 30.
Heidl said Gruber’s successor, Holger Wilfried Michael, would move into a rented property at Jalan Langgak Golf when he arrives on Aug 9.
The bungalow, resembling a clubhouse with a pitched roof, was built in such a way that the various portions of the house are seamlessly connected to each other, with huge rooms and entertainment areas.
Guests were able to move from one area of the house to another while the private quarters remained out of bounds.
The sale signals the changing sign of times for the local diplomatic corps.
Many of the larger missions prefer to sell off their landed properties and move into high-rise buildings.
Besides raking in a huge profit, there is also the advantage of added security available at the high-rise buildings and huge savings in terms of maintenance cost.
The British High Commission will be relocated to the nearby high-rise Menara Binjai.
A property agent said the Germans may be selling the grounds for the same reason as the British. “They want to monetise the land,’’ he added.
Land prices in the Kuala Lumpur City Centre (KLCC) area have stabilised and continue to generate interest from foreign parties from Singapore, Japan, South Korea and Taiwan.
Several land deals in the KLCC area last year were clinched within RM1,600 to RM1,700 per sq ft.
Pic below: Bungalow belonging to the German Embassy in Kuala Lumpur at Jalan Kia Peng put up for sale with asking price of RM200 mil or RM2,500 per sq ft.
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