PROPERTY PORTFOLIO
PROPERTY PORTFOLIO
(1)
The Mercure Brisbane and the Ibis Brisbane hotels are interconnected at ground level and situated on one freehold title.
(2)
The properties were valued by CBRE Valuations Pty Limited using the Discounted Cash Flow approach.
(3)
Based on the average exchange rate of A$1.00 = S$1.0341.
Novotel Brisbane offers 296 modern rooms and suites with
comprehensive conference and leisure facilities in the heart of
Brisbane. Located in the CBD, within walking distance to the Central
Station, Queen Street Mall and the Riverside boardwalk, this hotel
is one of Queensland’s more popular and stylish hotels amongst
multinational corporate and government bodies. Its functional yet
stylish features include conference facilities consisting 11 separate
venues for up to 350 delegates. The venues feature natural light and
spacious pre-function areas.
The property also features a restaurant, a café, a bar, a large
outdoor swimming pool and a gymnasium. For its green initiatives
and environmental management, Novotel Brisbane was ISO 14001
certified from 2013 to 2015. The hotel was also awarded the
Gold Planet 21 rating in 2014 and 2015 for its sustainability efforts.
Mercure and Ibis Brisbane are interconnected at the ground level
and located adjacent to the government and legal precinct. The
hotels are within walking distance to the South Bank cultural centre
including the Queensland Gallery of Modern Art, Queensland
Performing Arts Centre, internationally acclaimed Brisbane
Convention and Exhibition Centre and 16 hectares of cafés,
restaurants, cycle paths, gardens, swimming lagoon and vibrant
weekend markets.
Mercure Brisbane’s 194 spacious and comfortable rooms offer
spectacular views over the Brisbane River and the city. The hotel
offers a newly refurbished lobby, F&B outlet, as well as three floors
of function facilities and 11 conference rooms featuring ample
pre-function areas and natural light. The hotel was awarded the
Gold Planet 21 rating in 2014 and 2015 for its sustainability efforts.
It also received the ISO 14001 environmental certification in 2015.
Ibis Brisbane features 218 spacious rooms with a restaurant, a bar
and a function room. Environmental accolades received by the hotel
during the year include the ISO 14001 environmental certification
as well as the Gold Planet 21 rating.
PROPERTY DETAILS
Hotel:
Novotel Brisbane
Mercure Brisbane
(1)
Ibis Brisbane
(1)
Number of guest rooms:
296
194
218
Number of food & beverage
outlets:
Three outlets comprising
The Restaurant, The Bar,
Plan B Café
One outlet comprising M
Republic Restaurant,
Bar and Lounge
Two outlets comprising
Ibis Kitchen and The Bar
Banquet/Conference/
Meeting facilities:
11
versatile
conference
and function rooms for up
to 350 delegates featuring
pillarless ballroom, executive
boardroom, conference cafe
and a unique pool deck area
Three floors of function
facilities and 11 conference
rooms with ample pre-function
areas with natural light for up
to 900 delegates
One function room for up
to 70 guests
Car park facilities:
70 car park lots
109 car park lots
Land area:
6,235 sq m
3,847 sq m
Gross floor area:
28,049 sq m
38,972 sq m
Title:
Strata Volumetric Freehold
Freehold
Vendor:
Tourism Asset Holdings Limited
Tourism Asset Holdings Limited
Purchase price at
18 February 2010:
A$63.5 million
A$53.7 million
Valuation
(2)
as at
31 December 2015:
A$68.0 million
A$61.9 million
MASTER LEASE DETAILS
Master lessee:
AAPC Properties Pty Ltd, a subsidiary of Accor S.A.
Term of lease:
Approximately 11 years from 19 February 2010, expiring on 30 April 2021
Minimum rental income:
A$4.9 million
A$4.1 million
FY 2015 KEY FINANCIALS
Rental income:
S$5.5 million
(3)
(A$5.3 million)
S$2.7 million
(3)
(A$2.6 million)
S$1.8 million
(3)
(A$1.7 million)
Net property income:
S$5.5 million
(3)
(A$5.3 million)
S$2.7 million
(3)
(A$2.6 million)
S$1.8 million
(3)
(A$1.7 million)
Average occupancy rate:
75.2%
79.6%
78.2%
59
Annual Report 2015
