Page 47 - ar2011

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annual report 2011
(1) The properties were valued by CBRE Pty Ltd by the Discounted Cash Flow Analysis on a Staged Yield and Single Yield Approach.
(2) Based on the average exchange rate of A$1.00 = S$1.3045
MASTER LEASE DETAILS
Hotel Mercure Perth Ibis Perth
Master lessee: AAPC Properties Pty Ltd, a subsidiary of Accor S.A.
H-REIT’s term of lease
with master lessee:
Approximately 11 years from 19 February 2010, expiring on 30 April 2021
Minimum rental income: A$2.8 million A$1.9 million
Key Statistics on perth hotels
PROPERTY DETAILS
Hotel Mercure Perth Ibis Perth
Number of guest rooms: 239 192
Number of food
& beverage outlets:
3 outlets comprising Tonic Bar,
No:10 a la carte Restaurant and
Hydrant café and bar
2 outlets comprising the Rubix Bar
and iBistro Restaurant
Banquet/Conference/
Meeting facilities:
Dedicated conference foor on
Level 1 providing facilities for up
to 350 delegates with 6 function
rooms, heated rooftop swimming
pool, spa, sauna
and gym
3 function rooms for up to
200 guests
Car park facilities: 32 car park lots 13 car park lots
Land area: 757 sq m 1,480 sq m
Gross foor area: 22,419 sq m 9,650 sq m
Title: Strata Freehold Freehold
Vendor: Tourism Asset
Holdings Limited
Tourism Asset
Holdings Limited
Purchase price at 18 February 2010: A$36.2 million A$21.6 million
Valuation (1) as at 31 December 2011: A$43.0 million A$25.5 million
Mercure Perth and Ibis Perth are both strategically located in the heart of Perth city, just a short stroll from the Swan River,
Perth Mint and Supreme Court Gardens, amongst many of Perth’s attractions.
Mercure Perth features 239 well-appointed rooms, along with several dining options, a heated rooftop swimming pool,
spa, sauna and gym. Business guests are well catered for at this hotel with a number of modern meeting rooms available,
accommodating up to 350 delegates.
At Mercure Perth, No:10 a la carte Restaurant boasts an extensive contemporary European style menu with an Australian
favour. Being in proximity to the shopping and entertainment strip, No:10 a la carte Restaurant is perfectly situated for
an elegant evening or a quick meal before a show. Tonic Bar offers a comfortable surrounding to enjoy a cocktail amidst
sophisticated contemporary style. Hydrant café and bar is popular with guests and the business crowd as a place to
unwind in the evenings.
Winner of the 2010 AHA awards for best mid range accommodation, Ibis Perth offers 192 newly refurbished modern
and cosy rooms, just 300 m from the Murray and Hay Street shopping malls. At this hotel, iBistro Restaurant serves a
delicious variety of local cuisine daily with the charm of the bistro tradition, whilst Rubix Bar offers a friendly place for get
togethers throughout the day and bursts into life on weekends with a real party atmosphere.
Ibis Perth also offers three meeting rooms catering for up to 200 people, indoor parking and a self-service business
centre, making it an ideal location for intimate corporate and personal functions.
KEY FINANCIALS
Rental income from
the property for FY 2011:
S$3.9 million (2)
(A$3.0 million)
S$2.5 million (2)
(A$1.9 million)
Net property income
from the property for FY 2011:
S$3.9 million (2)
(A$3.0 million)
S$2.5 million (2)
(A$1.9 million)