Knight Frank Malaysia and CBRE|WTW have been jointly appointed to advise on the proposed investment opportunity in Menara Tun Perak, bringing the landmark 55-storey commercial tower in central Kuala Lumpur to market.
Completed in 1988, the 244-metre building along Jalan Tun Perak previously served as the headquarters of Malayan Banking Berhad (Maybank). The former Menara Maybank sits near Merdeka 118, Chinatown, Petaling Street, Central Market and Dataran Merdeka, giving investors exposure to commercial, heritage and tourism precincts.
The advisory team is marketing the skyscraper for partial or full investment structures. Prospective plans include ongoing commercial use, asset enhancement or repositioning into hospitality, serviced accommodation and mixed-use development, subject to feasibility assessments and regulatory approvals.
Structure and Conversion Options
Transit access anchors the property’s location. The site sits roughly 450 metres from Masjid Jamek LRT Station and 550 metres from Plaza Rakyat LRT station, connecting commuters to three RapidKL train lines, Kelana Jaya, Ampang and Sri Petaling, across the Klang Valley.
Surrounding blocks have seen an emergence of boutique hotels, hospitality concepts and lifestyle destinations, supported by growing tourism activity and the revitalisation of Chinatown and its neighbouring streets.
“Menara Tun Perak represents a unique opportunity to invest in a property that has played an important role in shaping Kuala Lumpur’s skyline and commercial history. Landmark assets of this nature, particularly those located within the city’s historic core, are rarely made available for investment.
With the continued revitalisation of central Kuala Lumpur and growing interest in the surrounding heritage and tourism precincts, the property offers considerable potential for investors with a long-term vision to preserve and enhance its legacy while exploring opportunities to unlock further value.”
James Buckley, Head of Capital Markets at Knight Frank Malaysia, noted that the asset allows buyers with a long-term vision to explore opportunities to unlock further value as downtown rejuvenation proceeds.
“Menara Tun Perak’s strategic location within Kuala Lumpur’s historic city centre, coupled with its architectural prominence and established identity, presents an interesting proposition for investors. As the surrounding precinct continues to evolve, we see opportunities for the property to benefit from the ongoing rejuvenation of the city centre and increasing demand for well-located assets with the flexibility to accommodate a variety of potential uses.”
Next Steps for Bidders
For further enquiries, prospective investors can contact jointly appointed agents James Buckley at Knight Frank Malaysia and Marcus Yeo at CBRE|WTW as marketing outreach progresses.
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