PROPERTY PORTFOLIO
PROPERTY PORTFOLIO
(1)
Shared with Liang Court Shopping Centre and Somerset Liang Court Service
Apartment (all space owned by Management Corporation Strata Title Plan No. 3027).
(2)
The property was valued by Knight Frank Pte Ltd using a combination of Capitalisation
and Discounted Cash Flow approaches.
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
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 2015:
S$319.0 million
MASTER LEASE DETAILS
Master lessee:
AAPC Clarke Quay Hotel
Pte. Ltd., a subsidiary of Accor S.A.
Term of lease:
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
FY 2015 KEY FINANCIALS
Rental income:
S$21.6 million
Net property income:
S$20.3 million
Average occupancy rate:
91.6%
Novotel Singapore Clarke Quay’s 403 hotel guest rooms range from the
standard rooms to the premier suites, all offering modern décor, highest
comfort and boast magnificent views of the Marina Bay, Singapore River or
the lush greenery of Fort Canning Park.
Strategically located between the Central Business District and minutes
away from the prime shopping area of Orchard Road, the hotel is situated
in the vibrant and dynamic entertainment hub of Singapore Clarke Quay,
only 20 minutes’ drive from Changi International Airport.
Novotel Singapore Clarke Quay also features 1,200 sq m of renovated
meeting facilities including two ballrooms accommodating up to 600
delegates, while its six multi-purpose function rooms are equipped with
state-of-the-art technology. Renovated in mid-2015, the brand new green
lavish outdoor terrace on Level 5 is ideal for coffee breaks, evening cocktails
and networking dinners.
Novotel’s signature all-day dining restaurant, The SQUARE, fulfils guests’
appetites with superb international and local cuisine. The hotel lounge,
Le Bar Rouge is a perfect venue to chat with friends and colleagues.
An award winning Chinese restaurant, Dragon Phoenix, and Northern Indian
Moghul Mahal restaurant complete the food and beverage offerings of this
downtown hotel.
Notable accolades include:
• SEC-Kimberly-Clark Singapore Environmental Achievement Award
(Services) – Winner
• ASEAN Green Hotel Award (2016)
• BCA Green Mark Gold Plus (2013 - 2016)
• PUB Water Efficient Building Gold Award (2015 - 2018)
Premier Lounge
55
Annual Report 2015
