ELITE PAVILION MALL
10-storey shopping mall with stratified parcels consisting of car park bays on Level B3 to Level 2 (‘Elite Pavilion’) interconnected to Pavilion Kuala Lumpur Mall via pedestrian link bridges and seating / retail areas on Level 4 to Level 10 (‘Extension-Connections’) and an underground pedestrian tunnel with retail outlets which contractual rights will expire on 10 October 2037 (‘Subway Linkage’)
Year of Completion
2016
Age of Building
7 years
Title
Geran 79872, Lot No 20027, Sekysen 57, Town and District of Kuala Lumpur, Negeri Wilayah Persekutuan KL for Elite Pavilion
Pajakan Negeri 53757, Lot 20020, Sekysen 63, Town and District of Kuala Lumpur, Negeri Wilayah Persekutuan KL for Extension-Connections
Encumbrances
Nil
Tenure
Interest in perpetuity for Elite Pavilion
99-year lease expiring on 26 October 2109 for Extension-Connections
Gross Floor Area
427,123 square feet
Net Lettable Area*
227,783 square feet
Number of Car Park Bays
50
Occupancy Rate as at 31 December 2023*
95.9%
Date of Acquisition
27 April 2018
Acquisition Price
RM580 million
Appraised Value
RM550 million
Date of Latest Valuation
31 December 2023
Independent Valuer
Knight Frank Malaysia Sdn Bhd
Capitalisation Rate - Reversionary*
6.25% for Elite Pavilion
Gross Revenue*
RM75 million
Net Property Income*
RM47 million
Top Largest Tenants (Alphabetical Order):
Coach, COS “Collection of Style”, Cotton On, JD Sports King of Trainers, Haidilao Hotpot, Lukfook Jewellery, Lululemon, MAC, Muji & Café, Red Box Plus
*as at FYE 31 December 2023
166 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia
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