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PORTFOLIO STATEMENTS
REPORTS
As at 31 December 2016
The accompanying notes form an integral part of these financial statements.
Stapled Group
Description of property
Tenure of
land
Term of
lease
Remaining
term of
lease
Location
Existing
use
Carrying
value at
31/12/2016
Carrying
value at
31/12/2015
Percentage
of total net
assets at
31/12/2016
Percentage
of total net
assets at
31/12/2015
$’000
$’000
%
%
Balance brought forward
1,861,832 1,853,525
120.3
118.3
Australia
Mercure Brisbane and
Ibis Brisbane
Freehold
–
–
85 – 87
North Quay,
Brisbane and
27 – 35 Turbot
Street, Brisbane
Hotel
64,815
63,534
4.2
4.1
Novotel Brisbane
Freehold
–
–
200 Creek
Street, Brisbane
Hotel
71,087
69,795
4.6
4.5
Ibis Perth
Freehold
–
–
334 Murray
Street, Perth
Hotel
33,453
32,845
2.2
2.1
Mercure Perth
Freehold
–
–
10 Irwin Street,
Perth
Hotel
48,088
46,906
3.1
3.0
Maldives
Angsana Velavaru
Leasehold 50 years from
26 August
1997
31 years South Nilandhe
Atoll
Resort
95,733
110,059
6.2
7.0
Investment properties, at valuation
2,175,008 2,176,664
140.6
139.0
Property, plant and equipment and prepaid land lease
Maldives
Jumeirah
Dhevanafushi
Leasehold 50 years from
15 June 2006
39 years Gaafu Alifu Atoll
Resort
64,983
80,427
4.2
5.2
Japan
Hotel MyStays
Asakusabashi
Freehold
–
–
1-5-5
Asakusabashi,
Taito-ku, Tokyo,
Japan
Hotel
39,087
37,763
2.5
2.4
Hotel MyStays
Kamata
Freehold
–
–
5-46-5 Kamata,
Ota-ku, Tokyo,
Japan
Hotel
31,964
30,905
2.1
2.0
United Kingdom
Hilton Cambridge
City Centre
(formerly known
as Cambridge City
Hotel)
Leasehold 125 years
from
25 December
1990
99 years Downing Street,
Cambridge
Hotel
107,432
128,636
6.9
8.2
Other plant and
equipment
–
–
–
–
–
7,712
530
0.5
0.0
Property plant and equipment and prepaid land lease, at cost less accumulated
depreciation and impairment losses
251,178
278,261
16.2
17.8
Other assets and liabilities (net)
(879,765)
(889,106)
(56.8)
(56.8)
Net assets of the Stapled Group
1,546,421 1,565,819
100.0
100.0
127
Annual Report 2016