AC HOTEL KUANTAN CITY CENTRE

(formerly Vistana Kuantan City Centre)


Address/Location : Jalan Teluk Sisek, 25000 Kuantan, Pahang.
Property description : 8-storey hotel building with 215 rooms.
Property type : Hotel
Age : Approximately 21 years
Title details : Lot No. 714, Section 37 held under PN No. 13491, Town and District of Kuantan, Pahang.
Encumbrances/Limitation in title/ interest : The property is charged to secure financing and there is restriction attached to the title.
Status of holdings : 99-year leasehold expiring on 11 July 2092. The unexpired lease period is approximately 72 years.
Existing use : Commercial building
Parking spaces : 149 bays
Lessee : Business & Budget Hotels (Kuantan) Sdn. Bhd.
Lease term : The property is leased for a term expiring on 14 November 2026.
Date of acquisition : 15 November 2011
Cost of acquisition(including incidentals) : RM75,980,000
Fair value adjustments for the financial year : RM1,000,000
Market value : RM90,000,000
Date of last valuation : 31 May 2020
Independent valuer : Azmi & Co. Sdn. Bhd.
Net book value : RM90,000,000