PROPERTY PORTFOLIO
PROPERTY PORTFOLIO
PROPERTY DETAILS
Number of guest rooms:
550 rooms and
La Residenza’s 24 serviced suites
Number of food & beverage outlets:
Three outlets comprising Café Brio’s,
The Piano Bar and The Pool Bar
Banquet/Conference/Meeting facilities:
34 versatile meeting rooms covering
6,039 sq m, including a six-metre high
column-free ballroom of 853 sq m and
seating up to 900 guests theatre-style
Other facilities:
A fully equipped Business
Centre, hair, beauty and wellness services
and four units of fully furnished Serviced
Offices offering a range of secretarial and
business support services including on-site
IT support, video conferencing facilities
and high-speed internet connection
Car park facilities:
287 car park lots
(1)
Land area:
10,860.2 sq m
(including adjoining Waterfront Plaza)
(2)
Gross floor area:
51,726.0 sq m
(including adjoining Waterfront Plaza)
(2)
Title:
75-year leasehold interest
commencing from 19 July 2006
Vendor:
City Developments Limited
Purchase price at 19 July 2006:
S$234.1 million
Valuation
(3)
as at 31 December 2015:
S$351.0 million
MASTER LEASE DETAILS
Master lessee:
Republic Hotels & Resorts
Limited, a subsidiary of M&C
Term of lease:
20 years from 19 July 2006 with an option
to renew for another 20 years
Minimum rental income:
S$7.2 million
comprising a fixed rent of S$3.0 million
and a service charge of S$4.2 million per
annum
FY 2015 KEY FINANCIALS
Rental income:
S$20.0 million
Net property income:
S$18.4 million
Average occupancy rate:
85.6%
The 574-room premier deluxe conference hotel is situated on the banks of
the historic Singapore River and close to the Central Business District, Clarke
Quay, Robertson Quay, Boat Quay, Orchard Road and the Integrated Resorts.
The hotel offers lifestyle comfort and business-enabling conveniences to
facilitate travellers’ executive accommodation and leisure needs, including
La Residenza, comprising 24 serviced suites, which have high ceilings and
come in studio, one or two bedroom units.
The adjoining Waterfront Conference Centre has 34 versatile meeting rooms
that cover a total area of 6,039 sq m, including a six-metre high column-free
ballroom covering 853 sq m and seating up to 900 guests theatre-style.
Grand Copthorne Waterfront Hotel is the third largest conference hotel in
Singapore. With one of the best designed conference venues in the region,
offering unparalleled cutting edge meeting facilities, it is a choice venue for
many multinational organisations.
Equipped with a full-service business centre and four serviced offices,
the hotel offers the full range of secretarial and business support services.
A salon providing hair, beauty and wellness services, satisfies the needs
of the leisure guests. In terms of dining options, diners at Café Brio’s,
a recipient of Wine & Dine Singapore’s Top Restaurant from 2013 - 2015, can
indulge in local favourites or international cuisines.
The hotel is currently undergoing extensive renovation to refresh its
lobby, add meeting room capacity and significantly augment its food and
beverage offerings.
Notable accolades include:
• Singapore’s Leading Conference Hotel 2015 (Winner) by World Travel
Awards
• SHA Excellent Service Award 2015 (12 Star, 4 Gold, 1 Silver)
• BCA Green Mark Platinum (2015 - 2018)
• PUB Water Efficient Building Gold Award (2014 - 2017)
(1)
The basement level car park facility was not acquired by H-REIT from City
Developments Limited ("
CDL
"). However, the hotel enjoys a right of easement to
use the basement level car park facility.
(2)
H-REIT leases from CDL the second level of Waterfront Plaza which comprises the
Waterfront Conference Centre which H-REIT in turn sub-lets to Republic Hotels &
Resorts Limited ("
RHRL
"). Rental income received from RHRL is thereafter paid to
CDL as rental expense.
(3)
The property was valued by Knight Frank Pte Ltd using a combination of the
Capitalisation and Discounted Cash Flow approaches.
Riverfront Ballroom
47
Annual Report 2015
