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

6 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

464,689 square feet

Net Lettable Area

227,783 square feet

Number of Car Park Bays

50

Occupancy Rate as at 31 December 2022*

92.3%

Date of Acquisition

27 April 2018

Acquisition Price

RM580 million

Appraised Value

RM550 million

Date of Latest Valuation

31 December 2022

Independent Valuer

CBRE WTW Valuation & Advisory Sdn Bhd

Capitalisation Rate - Reversionary*

6.25% for Elite Pavilion

Gross Revenue*

RM64 million

Net Property Income*

RM41 million

Top Largest Tenants (Alphabetical Order):

Coach, COS “Collection of Style”, Cotton On, HuaWei, JD Sports King of Trainers, Haidilao Hotpot, Lukfook Jewellery, Lululemon, Muji & Café, Red Box Plus

* as at FYE 31 December 2022

166 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia