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ANNUAL REPORT 2014
(1) The properties were valued by CBRE Valuations Pty Limited using the Discounted Cash Flow approach.
(2) Based on the average exchange rate of A$1.00 = S$1.1393.
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 bar, 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. The hotel was awarded Silver Planet 21 rating in 2014 for its sustainability efforts.
Ibis Perth features 192 rooms, just 300 metres from the Murray and Hay Street shopping malls. The hotel also offers a restaurant, a bar,
three meeting rooms catering for up to 200 guests, indoor parking and a self-service business centre, making it an ideal location for
intimate corporate and personal functions. Ibis Perth is the winner of the 2013 & 2014 AHA awards for best mid range accommodation
and winner of the WA Tourism Gold Standard Accommodation Award for 2011 & 2013. The hotel was awarded Silver Planet 21 rating
in 2014 for its sustainability efforts.
MASTER LEASE DETAILS
Hotel:
Mercure Perth
Ibis Perth
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$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,
Restaurant Ten and Hydrant Bar and
Café
Two outlets comprising the Rubix Bar and
iBistro Restaurant
Banquet/Conference/
Meeting facilities:
Dedicated conference floor 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 floor area:
22,419 sq m
9,650 sq m
Title:
Strata Freehold
Freehold
Vendor:
Tourism Asset Holdings Limited
Purchase price at 18 February 2010:
A$36.2 million
A$21.6 million
Valuation
(1)
as at 31 December 2014:
A$45.6 million
A$30.0 million
KEY FINANCIALS
Rental income from
the property for FY 2014:
S$3.5 million
(2)
(A$3.0 million)
S$2.3 million
(2)
(A$2.0 million)
Net property income
from the property for FY 2014:
S$3.5 million
(2)
(A$3.0 million)
S$2.3 million
(2)
(A$2.0 million)
