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ANNUAL REPORT 2014
(1) Shared with Liang Court Shopping Centre and Somerset Liang Court Serviced Apartment
(all space owned by the Management Corporation Strata Title Plan No. 3027).
(2) The property was valued by Knight Frank Pte Ltd using a combination of the Capitalisation
and Discounted Cash Flow approaches.
The 403-room hotel is situated within the vibrant and dynamic Clarke Quay area,
one of Singapore’s leading lifestyle and entertainment destinations. Novotel
Singapore Clarke Quay is also close to the financial district and major cultural and
tourist attractions such as Chinatown, the Esplanade and the Integrated Resorts.
Its rooms provide a spacious and contemporary feel, each with magnificent and
unobstructed views of the Singapore River, the spectacular city skyline or the lush
greenery of Fort Canning Park.
Novotel Singapore Clarke Quay has continued its commitment to the environment
being awarded ISO 14001 certification in 2014 and was awarded Platinum status for
the Planet 21 rating in 2013 and 2014. For its green practices, the hotel was one of
the Top 10 Commercial (Hotel Category) Buildings under the BCA Building Energy
Benchmarking Report and was the winner of the SEC-Kimberly-Clark Singapore
Environmental Achievement Award (Services). The hotel also received the Singapore
Green Hotel Award 2011 and 2013 as well as the BCA Green Mark (Gold Plus)
Certification in 2013. Other accolades include the Hotel Security Award 2012 and
2014 and BizSAFE Level 3 Certification 2013 for workplace safety and health.
The 25-storey superior-class hotel sits on top of the 6-storey Liang Court Shopping
Podium. Its proximity to Clarke Quay gives it an advantage playing host to gala
dinners and weddings in its pillarless ballroom, which is capable of seating up to
600 guests. Novotel Singapore Clarke Quay is also well-equipped to host corporate
meetings and social events in its six meeting/function rooms which have spacious
pre-function areas.
In addition, the hotel has four food and beverage outlets offering an array of
international cuisine. Whether it is dining at The SQUARE restaurant, or sipping a
signature cocktail at Le Bar Rouge, Novotel Singapore Clarke Quay offers something
to satisfy all tastes.
PROPERTY DETAILS
Number of guest rooms:
403
Number of food & beverage outlets:
Four outlets comprising The SQUARE
Restaurant, Dragon Phoenix Restaurant,
Moghul Mahal Restaurant and Le Bar
Rouge
Banquet/Conference/Meeting
facilities:
A pillarless ballroom with
a maximum capacity of 600 guests,
six multifunction rooms with spacious
pre-function areas and an executive
boardroom which can seat up to 20
guests and hosts the latest AV technology
Car park facilities:
745 car park lots
(1)
Land area:
12,925.4 sq m
Gross floor area:
40,508.0 sq m
Title:
97 years and 30 days leasehold
interest commencing from 2 April 1980
Vendor:
Lehman Brothers Real Estate
Partners II L. P. and affiliated partnerships
Purchase price at 7 June 2007:
S$201.0 million
Valuation
(2)
as at 31 December 2014:
S$319.0 million
MASTER LEASE DETAILS
Master lessee:
AAPC Clarke Quay Hotel
Pte. Ltd., a subsidiary of Accor S.A.
Term of lease with master lessee:
Approximately 13.5 years from 7 June
2007 expiring 31 December 2020
Minimum rental income:
Minimum rent
of S$6.5 million per year guaranteed by
master lessee / Accor S.A., subject to
maximum rent reserve of S$6.5 million for
the lease term
KEY FINANCIALS
Rental income from the property for
FY 2014:
S$22.3 million
Net property income from the
property for FY 2014:
S$20.9 million
Premier Suite
