| Address/Location |
: |
Jalan Teluk Sisek, 25000 Kuantan, Pahang Darul Makmur. |
| Property description |
: |
8-storey hotel building with 215 rooms. |
| Property type |
: |
Hotel |
| Age |
: |
Approximately 24 years |
| Title details |
: |
Lot No. 714, Section 37 held under PN No. 13491, Town
and District of Kuantan, State of Pahang Darul Makmur. |
| 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 69 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 |
: |
RM95,500,000 |
| Date of last valuation |
: |
31 May 2023 |
| Independent valuer |
: |
Savills (Malaysia) Sdn Bhd |
| Net book value |
: |
RM95,500,000 |
