Page 51 - ar2012

annual report 2012
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(1) The properties were valued by Jones Lang LaSalle Hotels (NSW) Pty Limited using the Discounted Cash Flow approach.
(2) Based on the average exchange rate of A$1.00 = S$1.2935.
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
Property Details
Hotel Mercure Perth Ibis Perth
Number of guest rooms: 239 192
Number of food
& beverage outlets:
Three outlets comprising Tonic Bar,
TENa lacarteRestaurant andHydrant
café and bar
Two 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 six function rooms,
heated rooftop swimming pool, spa,
sauna and gym
Three 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 2012: A$44.0 million A$28.0 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, TEN a la carte Restaurant boasts an extensive contemporary European style menu with an Australian favour.
Being in proximity to the shopping and entertainment strip, TEN a la carte Restaurant is perfectly situated for an elegant evening
or a quick meal before a show. Tonic Bar ofers 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 ofers 192 newly refurbished modern and cosy
rooms, just 300 metres 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 ofers a friendly place for get togethers throughout
the day and bursts into life on weekends with a real party atmosphere.
Ibis Perth also ofers 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 2012:
S$4.0 million (2)
(A$3.1 million)
S$2.6 million (2)
(A$2.0 million)
Net property income
from the property for FY 2012:
S$4.0 million (2)
(A$3.1 million)
S$2.6 million (2)
(A$2.0 million)