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THE MAJESTIC HOTEL KUALA LUMPUR
Website | : | https://www.majestickl.com/ |
Address/Location | : | No. 5, Jalan Sultan Hishamuddin, 50000 Kuala Lumpur, Malaysia. |
Property description | : | A 5-star hotel comprising Majestic Wing (original historic hotel building) comprising 2-storey, 4-storey and 5-storey buildings with 47 rooms and 15-storey Tower Wing with 253 rooms and 3 levels of basement car park. |
Property type | : | Hotel |
Age | : |
Majestic Wing – Approximately 92 years (refurbished in Year 2012) Tower Wing – Approximately 11 years |
Title details | : | Grant No. 23849 for Lot No. 74, Section 59, Town and District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur. |
Encumbrances/Limitation in title/ interest | : | The property is charged to secure financing and there is no restriction attached to the title. |
Status of holdings | : | 90-year registered lease expiring on 11 May 2091 obtained from Pesuruhjaya Tanah Persekutuan. The unexpired lease period is approximately 67 years. |
Existing use | : | Commercial building |
Parking spaces | : | 429 bays |
Lessee | : | YTL Majestic Hotel Sdn. Bhd. |
Lease term | : | The property is leased for a term expiring on 2 November 2032. |
Date of acquisition | : | 3 November 2017 |
Cost of acquisition (including incidentals) | : | RM384,221,000 |
Fair value adjustments for the financial year | : | RM2,600,000 |
Market value | : | RM402,600,000 |
Date of latest valuation | : | 31 May 2024 |
Independent valuer | : | Knight Frank Malaysia Sdn Bhd |
Net book value | : | RM402,600,000 |