Page 49 - ar2012

annual report 2012
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(1) The Mercure Brisbane and the Ibis Brisbane hotels are interconnected at ground level and situated on one freehold title.
(2) The properties were valued by Jones Lang LaSalle Hotels (NSW) Pty Limited using the Discounted Cash Flow approach.
(3) Based on the average exchange rate of A$1.00 = S$1.2935.
Master Lease Details
Hotel Novotel Brisbane Mercure Brisbane Ibis Brisbane
Master lessee: AAPC Properties Pty Ltd, a subsidiary of Accor S.A.
Term of lease
with master lessee: Approximately 11 years from 19 February 2010, expiring on 30 April 2021
Minimum rental income: A$4.9 million A$4.1 million
Key Financials
Rental income from
the property for FY 2012:
S$7.0 million (3)
(A$5.4 million)
S$5.8 million (3) (A$4.5 million)
Net property income from
the property for FY 2012:
S$7.0 million (3)
(A$5.4 million)
S$5.8 million (3) (A$4.5 million)
Property Details
Hotel Novotel Brisbane Mercure Brisbane (1) Ibis Brisbane (1)
Number of guest rooms: 296 194 218
Number of food
& beverage outlets:
Three outlets comprising
Restaurant & Terrace,
Plan B Café and Lobby Bar
One outlet comprising Quays
Restaurant & Bar
Two outlets comprising
iBar and iBistro
Banquet/Conference/
Meeting facilities:
11 versatile conference and
function rooms for up to 350
delegates featuring pillarless
ballroom, executiveboardroom,
conference Café and a unique
pool deck area
Threefoorsof functionfacilities
and 11 conference rooms with
ample pre-function areas
with natural light for up to
900 delegates
One function room for up to
70 guests
Car park facilities: 70 car park lots 109 car park lots
Land area: 6,235 sq m 3,845 sq m
Gross foor area: 25,443 sq m 38,972 sq m
Title: Strata Volumetric Freehold Freehold
Vendor: Tourism Asset Holdings
Limited
Tourism Asset
Holdings Limited
Purchase price at
18 February 2010:
A$63.5 million A$53.7 million
Valuation (2) as at
31 December 2012:
A$72.0 million A$62.0 million
Novotel Brisbane ofers 296 modern rooms and suites with comprehensive conference and leisure facilities in the heart of
Brisbane. Located in the CBD, within walking distance to the Central Station, Queen Street Mall and the Riverside boardwalk,
this hotel is one of Queensland’s more popular and stylish hotels amongst multi-national corporate and government bodies. Its
functional yet stylish features include conference facilities consisting 11 separate venues for up to 350 delegates. The venues
feature natural light and spacious pre-function areas.
The property also features refurbished rooms, lobby and bar, an iMac station for guests, a large outdoor swimming pool,
gymnasium, Restaurant & Terrace, Plan B Café and Lobby Bar. Novotel Brisbane is EarthCheck certifed.
Mercure and Ibis Brisbane are interconnected at the ground level and located adjacent to the government and legal precinct.
The hotels are walking distance to the South Bank cultural centre including the Queensland Gallery of Modern Art, Queensland
Performing Arts Centre, the Museum, Library, internationally acclaimed Brisbane Convention and Exhibition Centre and 16 hectares
of Cafés, restaurants, cycle paths, gardens, swimming lagoon and vibrant weekend markets.
Mercure Brisbane’s 194 spacious and comfortable rooms ofer spectacular views over the Brisbane River and the city. Three
foors of function facilities and 11 conference rooms feature ample pre-function areas and natural light. Quays Restaurant & Bar
ofers relaxed dining in a stylish atmosphere, with views of the river and Southbank Parklands. Refurbishment to the hotel guest
rooms has started in 2012 and will be completed by mid 2013.
Ibis Brisbane features 218 inviting rooms with a contemporary colour palette. iBistro, the hotel’s a la carte grillstyle restaurant
ofers afordable dining for breakfast and dinner while other features include 24-hour reception, internet and business services
and on-site conference facilities.