KUALA LUMPUR: The Holiday Inn Express hotel in Kuala Lumpur city center has been listed for sale, according to real estate firm Colliers Hotels & Leisure.
The proposed sale includes a total strata area of 160,414-square feet which includes all 15 hotel floors offering 384 well-appointed rooms.
The hotel is currently operated under the reputable Holiday Inn Express brand, owned by the esteemed InterContinental Hotel Group (IHG).
In addition, the offer includes the office and retail space within the main building and ground and mezzanine level of the Annex building which have been leased to speciality restaurant operators.
Colliers director of hotels and leisure Zoe Zhou said this freehold mixed-use development offers a rare opportunity to acquire an existing operational hotel asset with renowned international operator generating stabilised cashflow together with strong rental income from office and retail leasing.
"The investment also comes with the potential of a new tower to accommodate both residential and commercial use, maximising the existing land use," he noted in a statement on Colliers' website.
According to Colliers, the detailed information relating to the proposed sale can be obtained from the firm upon the execution of a non-disclosure agreement.
Colliers, however, did not disclose the reserve price for the sale.
It noted that interested parties are invited to evaluate this opportunity for the entity investment via an Expression of Interest (EOI) by April 26, 2024.
