PROPERTY PORTFOLIO
PROPERTY PORTFOLIO
The 452-room Rendezvous Hotel Auckland is a prime 12-storey
atrium-styled hotel located in New Zealand’s main gateway city.
The property is the largest hotel in the city, situated in the heart of
Auckland, only 600 metres south of the Sky City entertainment complex,
and minutes from all major commercial buildings and the University
of Auckland.
A key highlight of the hotel’s location is its proximity to Auckland
Conventions, Auckland’s prime convention precinct which comprises four of
Auckland’s finest venues: Aotea Centre, The Civic, Auckland Town Hall and
Aotea Square. The hotel is conveniently linked to Auckland Conventions by
an exclusive underground pedestrian tunnel.
The hotel has complementary and extensive conference facilities with
approximately 4,336 sq m of meeting space that can accommodate up to
1,000 delegates. It also provides a full-serviced business centre which offers
additional boardrooms.
The hotel offers varied dining options from an extensive buffet breakfast,
and a la carte dinner menu in Straits Café to Japanese cuisine in Katsura,
24-hour room service and light lunch and dinner options in Atrium Lounge.
Notable accolades include:
• TripAdvisor Certificate of Excellence (2012 – 2015)
(1)
The property was valued by CBRE Limited using a combination of the Capitalisation,
Discounted Cash Flow and Sales Comparison approaches.
(2)
Based on the average exchange rate of NZ$1.00 = S$0.9652.
PROPERTY DETAILS
Number of guest rooms:
452
Number of food & beverage outlets:
Three outlets comprising Straits Café,
Katsura Japanese Restaurant and the
Atrium Lounge
Banquet/Conference/Meeting facilities:
16 function rooms comprising over
4,336 sq m of meeting space offering a
variety of flexible multifunction rooms
that can be used for intimate board
meetings through to large gala dinners,
exhibitions or cocktail functions for up to
1,000 delegates
Car park facilities:
258 car park lots
Land area:
5,910.0 sq m
Title:
Freehold
Vendor:
Abacus Funds Management
Limited as trustee of Abacus
NZ Holdings Trust
Purchase price at 19 December 2006:
NZ$113.0 million
Valuation
(1)
as at 31 December 2015:
NZ$117.0 million
MASTER LEASE DETAILS
Master lessee:
Rendezvous Hotels (NZ)
Limited, a subsidiary of Rendezvous Hotels
International Private Limited
Term of lease:
10 years commencing from 7 September
2006
Minimum rental income:
Base rent
of approximately NZ$10.0 million in
FY 2015 which further escalates at a rate of
2.75% per annum
FY 2015 KEY FINANCIALS
Rental income:
S$9.7 million
(2)
(NZ$10.0 million)
Net property income:
S$9.7 million
(2)
(NZ$10.0 million)
Average occupancy rate:
85.3%
63
Annual Report 2015
