Page 85 - ar2012

annual report 2012
83
Portfolio Statements
As at 31 December 2012
The accompanying notes form an integral part of these fnancial statements.
The Stapled Group
Percentage Percentage
Remaining Carrying Carrying of Total Net of Total Net
Description Tenure Term of Term of Existing value at value at Assets at Assets at
of Property of Land Lease Lease Location use 31/12/2012 31/12/2011 31/12/2012 31/12/2011
$’000 $’000 % %
Investment properties
Singapore
Orchard Hotel Freehold * 75 years 69 years 442 Orchard Hotel 454,000 450,000 29.0 29.1
Road
Orchard Hotel Freehold * 75 years 69 years 442 Orchard Retail 68,000 54,800 4.4 3.5
Shopping Road
Arcade
Grand Copthorne Freehold * 75 years 69 years 392 Havelock Hotel 350,000 350,000 22.4 22.6
Waterfront Road
Hotel
M Hotel Freehold * 75 years 69 years 81 Anson Hotel 232,000 232,000 14.8 15.0
Road
Copthorne King’s Leasehold 99 years 54 years 403 Havelock Hotel 124,400 129,000 8.0 8.4
Hotel from Road
1 Feb
1968
Novotel Singapore Leasehold 97 years 64 years 177A River Hotel 304,000 296,000 19.4 19.1
Clarke Quay and 30 Valley Road
days
from
2 Apr
1980
Studio M Hotel Leasehold 99 years 93 years 3 Nanson Hotel 163,000 163,000 10.4 10.5
from Road
26 Feb
2007
Balance carried forward 1,695,400 1,674,800 108.4 108.2
* H-REIT’s interest in the freehold land is restricted to the remaining term of each respective lease.