SEO Version
annual report 2012
41
The 403-room hotel is situated within the vibrant and dynamic Clarke Quay area, one of Singapore’s leading lifestyle and
entertainment destinations. Novotel Singapore Clarke Quay is also close to the fnancial district and major cultural and tourists
attractions such as Chinatown, the Esplanade and the Integrated Resorts. Its rooms provide a spacious and contemporary feel
with versatile pivoting workstations developed with the travelling executive in mind, each with magnifcent and unobstructed
views of the meandering Singapore River, the spectacular city skyline or the lush greenery of Fort Canning Park.
Novotel Singapore Clarke Quay has continued its commitment to the environment by moving forward with its Green Globe
achievement in 2009, by being certifed and assessed now to meet the certifcation requirements of the EarthCheck company
standards. It was the frst hotel in Singapore to achieve the Green Globe Certifcation for its commitment to environment and
sustainable development in January 2009, and was also awarded the Singapore Green Hotel Award 2011 in recognition of its
green practices.
The 25-storey superior-class hotel sits on top of the 6-storey Liang Court Shopping Podium. Its proximity to Clarke Quay gives
it an advantage in playing host to gala dinners and weddings in its pillarless ballroom, which is capable of seating up to 600
guests. Novotel Singapore Clarke Quay is also well-equipped to host corporate meetings and social events in its six meeting/
function rooms which have spacious pre-function areas.
In addition, the hotel has three restaurants ofering an array of international cuisine. Whether it is dining at The SQUARE restaurant,
or sipping a signature cocktail at Le Bar Rouge, Novotel Singapore Clarke Quay ofers something to satisfy all tastes.
The renovation of all bathrooms and minor room touch ups were completed in early 2012. All Level 5 meeting rooms were also
refurbished in 2012 to provide guests with quality conference experience.
Property Details
Number of guest rooms:
403
Number of food & beverage outlets:
Four outlets comprising The SQUARE Restaurant, Dragon Phoenix Restaurant,
Moghul Mahal Restaurant and Le Bar Rouge
Banquet/Conference/Meeting facilities:
A pillarless ballroom with a maximum capacity of 600 guests, six multifunction
rooms with spacious pre-function areas and an executive boardroomwhich can
seat up to 20 guests and hosts the latest AV technology
Car park facilities:
745 car park lots
(1)
Land area:
12,925.4 sq m
Gross foor area:
40,508.0 sq m
Title:
97 years and 30 days’ leasehold interest commencing from 2 April 1980
Vendor:
Lehman Brothers Real Estate Partners II L. P. and afliated partnerships
Purchase price at 7 June 2007:
S$201.0 million
Valuation
(2)
as at 31 December 2012:
S$304.0 million
Master Lease Details
Master lessee:
AAPC Clarke Quay Hotel Pte. Ltd., a subsidiary of Accor S.A.
Term of lease with master lessee:
Approximately 13.5 years from 7 June 2007 expiring 31 December 2020
Minimum rental income:
Minimum rent of S$6.5 million per year guaranteed by master lessee / Accor
S.A., subject to maximum rent reserve of S$6.5 million for the lease term
Key Financials
Rental income from the property for FY 2012: S$24.9 million
Net property income from the property for
FY 2012:
S$23.5 million
(1) Shared with Liang Court Shopping Centre and Somerset Liang Court Serviced Apartment (all space owned by the Management Corporation Strata
Title Plan No. 3027).
(2) The property was valued by Jones Lang LaSalle Property Consultants Pte Ltd using a combination of the Capitalisation and Discounted Cash
Flow approaches.
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