PROPERTY PORTFOLIO
PROPERTY PORTFOLIO
(1)
The property was valued by Knight Frank Pte Ltd using a combination of the
Capitalisation and Discounted Cash Flow approaches.
The 310-room hotel is conveniently located minutes away from the Central
Business District, Robertson Quay, Clarke Quay, Boat Quay, Orchard Road,
Chinatown and the Integrated Resorts.
Copthorne King’s Hotel’s elegantly-appointed rooms and suites offer all the
comforts of modern day amenities, replete with award-winning restaurants,
seven fully equipped function rooms that can be configured to various
meeting arrangements, complete with the latest audio-visual equipment and
wireless broadband connectivity. Recreational facilities include a landscaped
outdoor pool and jacuzzi, mini putting green, gymnasium, sauna and
steam bath.
Its award-winning restaurants include Tien Court Restaurant which serves
contemporary regional Chinese cuisine including Cantonese delicacies
and Princess Terrace which is renowned in Singapore for serving the best
authentic Penang cuisine. Both restaurants have been voted into Singapore
Tatler’s "Best Restaurants" list for seven consecutive years from 2007 to
2013 as well as for 2015.
Notable accolades include:
• BCA Green Mark Platinum (2014 - 2017)
• ASEAN Energy Awards 2013 – Retrofitted Building Category
PROPERTY DETAILS
Number of guest rooms:
310
Number of food & beverage outlets:
Four outlets comprising Tien Court
Restaurant, Princess Terrace Café,
Connections Lounge and Starscafé
Banquet/Conference/Meeting facilities:
Seven fully equipped function rooms
that can be easily configured to various
meeting arrangements
Car park facilities:
77 car park lots
Land area:
5,636.9 sq m
Gross floor area:
17,598.3 sq m
Title:
99-year leasehold interest
commencing from 1 February 1968
Vendor:
Republic Hotels & Resorts
Limited
Purchase price at 19 July 2006:
S$86.1 million
Valuation
(1)
as at 31 December 2015:
S$121.0 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$2.8 million
comprising a fixed rent of S$0.6 million
and a service charge of S$2.2 million per
annum
FY 2015 KEY FINANCIALS
Rental income:
S$8.4 million
Net property income:
S$7.0 million
Average occupancy rate:
86.4%
Princess Terrace Café
51
Annual Report 2015
