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annual report 2012
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KEY FINANCIALS
Rental income from the property for
FY 2012:
S$5.4 million
Net property income from the property
for FY 2012:
S$4.2 million
Total number of tenants as at
31 December 2012:
40
Average occupancy rate for FY 2012: 95.3%
Average rent for FY 2012: S$7.36 per sq ft per month
(1) The property was valued by Jones Lang LaSalle Property Consultants Pte Ltd using a combination of the Direct Capitalisation Method and Discounted
Cash Flow approaches.
PROPERTY DETAILS
Net lettable area: 5,933 sq m
Car park facilities: The car park facilities are shared with Orchard Hotel
Title: 75-year leasehold interest commencing from 19 July 2006
Vendor: City Hotels Pte. Ltd.
Purchase price at 19 July 2006: S$34.5 million
Valuation (1) as at 31 December 2012: S$68.0 million
Orchard Hotel Shopping Arcade is within short walking distance of the Orchard MRT station which is situated at the junction of
Scotts Road, Paterson Road and Orchard Road. Its main entrance is along Claymore Road and there is access to Orchard Hotel
on the frst and second levels.
The total lettable foor area of the shopping arcade is approximately 8,002 sq m of which 5,933 sq m represents retail rental
area and the balance is used by Orchard Hotel at no charge.
The shopping arcade houses numerous specialty tenants ranging fromwell-known food and beverage concepts, lifestyle services
and fashion boutiques. The majority of retail tenancies are occupied under a standard form of lease, with lease terms ranging
from one to three years. All leases provide for the payment of base rental and service charge with a limited number of leases
incorporating structured increases of base rent during the lease term. Retail leases typically do not incorporate mid-term reviews,
with rentals generally being reviewed to market on lease renewal.
By rental income, the top 10 tenants of Orchard Hotel Shopping Arcade made up 69.7% of the total rental income received. The
top tenant at the Orchard Hotel Shopping Arcade makes up 14.4% of total rental income with the tenth largest comprising 2.8%.
% Contribution to Rental Income of Top 10 Tenants
14.4%
10.5%
9.4%
8.5%
7.7%
5.7%
4.3%
3.3%
2.8%
3.1%
3.1%
2.8%
3.6%
3.0%
2.8%
2013
2014
2015
F&B
Spa/Beauty
Entertainment
Fashion
Hobbies/Specialty
Services/Clothing
Jewellery
Advertising
35.4%
34.2%
15.1%
21%
Lease Expiry Analysis by Rental Income Tenant Mix by Rental Income
12.3%
40.3%
47.4%