This article first appeared in The Edge Malaysia Weekly on May 18, 2026 - May 24, 2026

TWO adjoining parcels of land formerly occupied by Brickfields Asia College in Kuala Lumpur’s Brickfields enclave have been put up for sale with an asking price of RM35 million, translating into roughly RM990 per sq ft.

The sites — identified as Lot 55 and Lot 159 — are located along Lorong Chan Ah Tong, just off Jalan Sultan Abdul Samad, directly opposite Malaysian Resources Corp Bhd’s (KL:MRCB) Sentral Suites development in KL Sentral.

The combined 0.8-acre parcels are held under freehold tenure. A car park is currently operating at Lot 55 while a vacant 3-storey building that was formerly used as student accommodation occupies Lot 159.

According to market sources, a valuation conducted in May 2018 estimated the cost of Lot 55 at RM12 million and Lot 159 at RM30 million. The latter property, also known in the market as Shresta Brickfields or BAC Residence, comprises 12 units with five rooms each.

Both assets are owned by Hostels Asia Sdn Bhd, a wholly-owned subsidiary of BAC Education Sdn Bhd, the education group behind Brickfields Asia College. Brickfields Asia College is a private law school, offering pre-university, law and business programmes.

A local property agent familiar with the matter says the site has been quietly marketed for some time following Brickfields Asia College’s operational shift to its flagship campus in Petaling Jaya.

“Brickfields Asia College opened its flagship campus in PJ a few years ago and I believe this property has been on the market for some time now. Among its challenges would be the size of the site.

“Still, land offerings in Brickfields remain relatively scarce, particularly freehold plots near KL Sentral. While the site size may limit certain large-scale developments, the location, immediately behind Little India, continues to offer strong long-term redevelopment appeal,” the agent adds.

Brickfields Asia College’s RM115 million flagship campus, Menara BAC in Section 14, PJ, was completed in 2022 and includes student residences that can accommodate more than 500 students, according to its website.

Paul Lim, associate leader and partner at The Roof Realty, confirms that the firm has been appointed as the exclusive marketing agent for the sale.

He notes that the site benefits from close proximity to major transit and lifestyle amenities, including KL Sentral and educational institutions such as Veritas University College and Methodist College KL, as well as retail hubs including NU Sentral, Bangsar Village and Mid Valley Megamall.

“The asset represents one of the few remaining freehold redevelopment opportunities in the area and carries strong potential for future capital appreciation,” says Lim.

Filings with the Companies Commission of Malaysia (SSM) show Hostels Asia returned to profitability in the financial year ended Dec 31, 2024 (FY2024), posting a net profit of RM11.77 million after recording losses in the preceding two financial years. It posted a net loss of RM1.91 million in FY2023 and RM807,431 in FY2022. The performance of FY2025 has yet to be filed.

The surrounding Brickfields precinct has continued to attract investor attention amid ongoing urban renewal activity around KL Sentral. Sentral Suites, developed by MRCB and completed in 2023, comprises 1,434 serviced apartment units across three towers on a 4.75-acre site. The units come with one, two or three bedrooms and there are also dual-key units, with selling prices from RM830,000 for a 724-sq-ft unit.

The Edge reported in February this year on another car park land for sale in Brickfields. Kuwait-based Asiya Investments was said to be selling its freehold land, located behind Menara Kembar Bank Rakyat in Jalan Ang Seng.

SSM data shows that the site of the car park is owned by VH Select (M) Sdn Bhd which, in turn, is fully owned by VH Select (Msia) Pte Ltd.

The 0.6-acre (26,000 sq ft) site is understood to carry an asking price of about RM26 million, or roughly RM1,000 per sq ft. The parcel is a mixed-use land zone with a plot ratio of 1:5.4 and is categorised under transit-oriented development.

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