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 |