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annual report 2012
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The 452-room Rendezvous Grand Hotel Auckland is a prime 12-storey atrium-styled Qualmark Rate 4.5-star hotel located in
New Zealand’s main gateway city. It is situated in the heart of Auckland, only 600 metres south of the Sky City entertainment
complex, and minutes from all major commercial buildings and the University of Auckland.
A key highlight of the hotel’s location is its proximity to The Edge, Auckland’s prime convention precinct which comprises four
of Auckland’s fnest venues: Aotea Centre, The Civic, Auckland Town Hall and Aotea Square. The hotel is conveniently linked to
The Edge by an exclusive underground pedestrian tunnel.
The hotel has complementary and extensive conference facilities with approximately 4,336 sq m of meeting space that can
accommodate up to 1,000 delegates. It also provides a full-serviced business centre which ofers additional boardrooms.
The hotel ofers varied dining options from an extensive bufet breakfast, and a la carte dinner menu in Straits Café to Japanese
cuisine in Katsura, room service and light lunch and dinner options in Atrium Lounge.
Rendezvous Grand Hotel Auckland has retained its Bronze benchmarked accreditation with EarthCheck. EarthCheck complies
with the Intergovernmental Panel for Climate Change (IPCC) Guidelines for National Greenhouse Gas Inventories, the World
Business Council for Sustainable Development (WBCSD) Greenhouse Gas Protocol, and the International Organisation for
Standardisation (ISO) 14064 range of standards for greenhouse gas accounting.
In addition, major asset enhancement work has been completed in the year 2012. To further deliver exceptional experience to
its guests, refurbishment was carried out to the guest rooms, the meeting room, the lobby, various restaurants and the lounge
in the hotel.
Property Details
Number of guest rooms: 452
Number of food &
beverage outlets:
Three outlets comprising Straits Café, Katsura Japanese Restaurant, and the
Atrium Lounge
Banquet/Conference/Meeting facilities: Approximately 4,336 sq m of meeting space offering a variety of flexible
multifunction rooms that can be used for intimate board meetings through to
large exhibitions for up to 1,000 delegates
Car park facilities: 258 car park lots
Land area: 5,910.0 sq m
Title: Freehold
Vendor: Abacus Funds Management Limited as trustee of Abacus NZ Holdings Trust
Purchase price at 19 December 2006: NZ$113.0 million
Valuation (1) as at 31 December 2012: NZ$88.0 million
Master Lease Details
Master lessee: Rendezvous Hotels (NZ) Limited, a subsidiary of Rendezvous Hotels International
Private Limited
Term of lease with master lessee: 10 years commencing from 7 September 2006 and the master lessee has an
option to renew for another 5 years
Minimum rental income: Base rent of approximately NZ$9.2 million in FY 2012 which further escalates
at a rate of 2.75% per annum
Key Financials
Rental income from the property for FY 2012: S$9.4 million (2) (NZ$9.2 million)
Net property income from the property for
FY 2012:
S$9.4 million (2) (NZ$9.2 million)
(1) The property was valued by Bayleys Valuations Limited using the Initial Year Capitalisation, Discounted Cash Flow and Rate Per Room approaches.
(2) Based on the average exchange rate of NZ$1.00 =S$1.0131.