Aurora Tower

Aurora Tower dates back to 1978 when it was the first high-rise building to be built in KL city centre. Located at the intersection of Jalan Ampang and Jalan P Ramlee, this iconic building albeit old is being torn down to make way for Aurora Tower. Sunrise in 2008 purchased the building at RM2,588 psf, a total of RM179 million as part of an acquisition of freehold property belonging to Tanah Tuan Development who was to have bought over the land (of Wisma Angkasa Raya) from the original owner. Aurora Tower was a 24-storey commercial building that comprised of 20-storey office floors, 4-storey podium and 2 levels of basement carpark. The total lettable area at the time was 167,728 sq ft and enjoyed an occupancy rate of 96.4%. The 1.6 acre land is located just a stone's throw away from KLCC and across from Wisma Selangor Dredging, Al Rajhi Bank, Menara Public Bank and next to an open-air carpark. A few doors away are Maya Hotel right across from popular night hotspot, Zouk Club. The new building will consist of 66 floors of which 4 of them will be under ground. This redevelopment is expected to be completed in 2015 and yield a gross development value of at least RM900million.

Property Details

Name: Aurora Tower (formerly known as Wisma Angkasa Raya)

Address: No. 123 Jalan Ampang 50450 Kuala Lumpur

Developer: Sunrise

Completion Date: 1978 (original building), 2015 (new building)

Tenure: Freehold

Type: Commercial

No. of Storey: 66

Land Area: 69,171 sf (or 1.6 acres)

Rental: RM5.50 psf

Analysis

Aurora Tower's location at the intersection of Jalan Ampang, Jalan Yap Kwan Seng, and Jalan P Ramlee, are all main thoroughfares to all parts of the city center and is also close by to the Ampang Elevated Highway (AKLEH). The nearest LRT station to the building is the KLCC station located at Avenue K Shopping mall a few minutes walk away. There are plenty of amenities in this strategic location. One is spoiled for choice when it comes to restaurants and good food, great shopping, popular night spots (bars and clubs), public transportation, banks, hotels for business guests and travelers, and so much more. Aurora Tower enjoyed good rentals at RM5.50psf. The expected lettable areas and rates are to be much more once Aurora Tower is ready in 2015. Located in such a prime spot in downtown Kuala Lumpur, Aurora Tower is benched on being the future upmarket commercial project in town. With reputable and award-winning property developer Sunrise at the helm, investors and prospective businesses have much to look forward to with this redevelopment project.