According to ART’s business update in the 1QFY2021, a letter of demand was issued to the hotel to recover the sums due under the master lease as at March 1.
The manager of Ascott Residence Trust has issued a notice of intended forfeiture to its tenant, Park Hotel Clarke Quay, on June 25.
The notice was issued under a master lease for 1 Unity Street dated April 5, 2013, with a term of 10 years commencing June 28, 2013.
