118
H-REIT GROUP
Description of
Property
Tenure of
Land
Term of
Lease
Remaining
Term of
Lease
Location
Existing
use
Carrying
value at
31/12/2015
Carrying
value at
31/12/2014
Percentage
of Total Net
Assets at
31/12/2015
Percentage
of Total Net
Assets at
31/12/2014
$’000
$’000
%
%
Investment properties
Singapore
Orchard Hotel
Freehold *
75 years
66 years
442 Orchard
Road
Hotel
449,000
460,000
28.5
28.4
Claymore Connect
Freehold *
75 years
66 years
442 Orchard
Road
Retail
106,000
106,000
6.7
6.6
Grand Copthorne
Waterfront Hotel
Freehold *
75 years
66 years 392 Havelock
Road
Hotel
351,000
363,000
22.3
22.4
M Hotel
Freehold *
75 years
66 years 81 Anson Road Hotel
235,000
235,000
14.9
14.5
Copthorne
King’s Hotel
Leasehold 99 years from
1 February 1968
51 years 403 Havelock
Road
Hotel
121,000
122,000
7.7
7.5
Novotel Singapore
Clarke Quay
Leasehold 97 years and 30
days from
2 April 1980
61 years 177A River Valley
Road
Hotel
319,000
319,000
20.3
19.7
Studio M Hotel
Leasehold 99 years from 26
February 2007
90 years 3 Nanson Road Hotel
159,000
164,000
10.1
10.2
New Zealand
Rendezvous Hotel
Auckland
Freehold
–
–
71 – 87 Mayoral
Drive, Auckland
Hotel
113,525
102,890
7.2
6.4
Australia
Mercure Brisbane
and Ibis Brisbane
Freehold
–
–
85 – 87 North
Quay, Brisbane
and 27 – 35
Turbot Street,
Brisbane
Hotel
63,534
67,269
4.0
4.2
Novotel Brisbane
Freehold
–
–
200 Creek Street,
Brisbane
Hotel
69,795
76,740
4.4
4.7
Ibis Perth
Freehold
–
–
334 Murray
Street, Perth
Hotel
32,845
32,289
2.1
2.0
Mercure Perth
Freehold
–
–
10 Irwin Street,
Perth
Hotel
46,906
49,079
3.0
3.0
Maldives
Angsana Velavaru
Leasehold 50 years from 26
August 1997
32 years South Nilandhe
Atoll
Resort
110,059
109,156
7.0
6.7
Jumeirah
Dhevanafushi
Leasehold 50 years from 15
June 2006
40 years Gaafu Alifu Atoll Resort
80,427
82,032
5.1
5.1
Balance carried forward
2,257,091 2,288,455
143.3
141.4
* H-REIT’s interest in the freehold land is restricted to the remaining term of each respective lease.
PORTFOLIO STATEMENTS
The accompanying notes form an integral part of these financial statements.
As at 31 December 2015
