AC HOTEL KUANTAN CITY CENTRE


Website : https://www.marriott.com/en-us/hotels/kuaar-ac-hotel-kuantan/overview/
Address/Location : Jalan Teluk Sisek, 25000 Kuantan, Pahang Darul Makmur, Malaysia.
Property description : 8-storey hotel building with 215 rooms.
Property type : Hotel
Age : Approximately 25 years
Title details : PN No. 13491 for Lot No. 714, Section 37, 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 68 years.
Existing use : Commercial building
Parking spaces : 125 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 : RM200,000
Market value : RM106,500,000
Date of latest valuation : 31 May 2024
Independent valuer : Knight Frank Malaysia Sdn Bhd
Net book value : RM106,500,000