KUALA LUMPUR, Aug 24 — The shoplot housing the popular Village Park Restaurant in Damansara Utama, famed for its nasi lemak, is set to go under the hammer with a reserve price of RM5.3 million.

A court document sighted by Malay Mail shows that the three-and-a-half-storey intermediate shopoffice at No. 5, Jalan SS21/37, Damansara Utama, will be auctioned publicly through the e-Lelong system on October 1 at 9am.

The property, which is the current address of Village Park Restaurant, has a land area of 1,650 sq ft and is held under a freehold title.

According to the document, the property is registered under two names, both of whom are now deceased. 

Their estates are represented by their respective executors, who are named as the defendants in the court proceedings. 

The document also states Standard Chartered Bank Malaysia Berhad's mortgage issuance date for the property is November 20, 2012.

As for the auction, it was ordered by the High Court in Kuala Lumpur, with the document citing court orders dated January 8 and July 23 this year.

The property will be sold on an “as is where is” basis, with the reserve price set at RM5.3 million.

Interested bidders must place a 10 per cent deposit of the reserve price — equivalent to RM530,000 — one working day before the auction, while the successful bidder must settle the balance within 120 days from the date of sale, the document said.

The court document states that the successful bidder will be responsible for obtaining vacant possession of the property, while the property will be sold subject to existing easements, caveats, tenancies, encumbrances and rights, if any.

The auction will be conducted electronically through the Judiciary's e-Lelong system at the e-Lelong Operations Centre at the Kuantan Court Complex, Pahang.

The court document advises prospective bidders to conduct an official title search with the relevant land office and inspect the property, including its liabilities and encumbrances, before the auction.

The property is described in the document as being designated for commercial use, with no restriction in interest listed.