Address/Location : Aza-Higashiyama, Niseko-cho, Abuta-gun, Hokkaido.
Property description : 5-storey hotel building with 1-storey of basement comprising 200 rooms.
Property type : Hotel
Age : Approximately 37 years
Title details : Lot No. 1-2, 5-4, 6-2 and 7-3, Aza-Higashiyama, Nisekocho, Abuta-gun, Hokkaido, Japan.
Encumbrances/Limitation in title/ interest : The property is charged to secure financing and there is no restriction attached to the title.
Status of holdings : Freehold
Existing use : Commercial building
Parking spaces : Nil
Lessee : Niseko Village K.K.
Lease term : The property is leased for a term expiring on 25 September 2048.
Date of acquisition : 26 September 2018
Cost of acquisition(including incidentals) : JPY6,005,452,000
Fair value adjustments for the financial year : JPY10,000,000 or RM406,000
Market value : JPY6,070,000,000
Date of last valuation : 30 April 2020
Independent valuer : Savills Japan Co., Ltd.
Net book value : RM241,155,000