270 MKH BERHAD | ANNUAL REPORT 2023 46. FAIR VALUE HIERARCHY (CONT’D) Description of valuation techniques used and key unobservable inputs to valuation on investment properties measured at Level 3 are as follows: Property category Valuation technique Significant unobservable inputs Range 2023 Investment properties Commercial properties Comparison method Market value per square feet RM240 Commercial properties Comparison method Market value per square feet RM120 - RM1,620 Commercial properties Cost method Construction price per square feet RM65 - RM135 Commercial properties Investment method Estimated average rental rate per square feet per month RM3.09 Estimated outgoings per square feet per month RM2.00 Outgoings rate 15.00% - 30.00% Term yield 5.50% - 7.00% Sinking fund 3% Void rate 10.00% - 13.81% Lease term 66 - 79 years Car park Comparison method Estimated price per parking bay RM16,000 - RM25,000 Office and shoplot Investment method Estimated price per parking bay Estimated outgoings per square feet per month RM17,000 RM0.25 Term yield 6.00% - 6.25% Office and shoplot Comparison method Market value per square feet RM258 - RM650 Education centre Investment method Estimated average rental rate per square feet per month RM0.85 - RM1.25 Estimated outgoings per square feet per month RM0.053 - RM0.055 Term yield 5.00% Reversionary yield 6.25% Void rate 10.00% Factory lot Investment method Estimated average rental rate per square feet per month RM2.69 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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