17 / 212
(1)
All properties were valued as at 31 December 2016.
(2)
The lease term may be extended for a further term of 50 years pursuant to lessee’s (CDLHT) option to renew under the lease granted by the head
lessor (Cambridge City Council).
KEY PROPERTY DETAILS
Summary details of CDLHT’s properties are as follows:
No of
Rooms
Title
Remaining
Term of
Land Lease
Date of
Acquisition
Purchase
Price in
millions
Valuation
in
millions
(1)
SINGAPORE
Orchard Hotel
656
75-year leasehold
interest commencing
19 Jul 2006
65 years
19 Jul 2006
S$330.1 S$424.0
Grand Copthorne
Waterfront Hotel
574
19 Jul 2006 S$234.1 S$348.0
M Hotel
415
19 Jul 2006 S$161.5 S$234.0
Copthorne King’s
Hotel
310 99-year leasehold interest
commencing 1 Feb 1968 50 years 19 Jul 2006
S$86.1 S$116.0
Studio M Hotel
360 99-year leasehold interest
commencing 26 Feb 2007 89 years 3 May 2011 S$154.0 S$153.0
Novotel Singapore
Clarke Quay
403
97 years and 30 days
leasehold interest
commencing 2 Apr 1980
60 years 7 Jun 2007 S$201.0 S$319.0
Claymore Connect
N.A.
75-year leasehold interest
commencing 19 Jul 2006 65 years 19 Jul 2006
S$34.5 S$90.0
NEW ZEALAND
Grand Millennium
Auckland
452
Freehold
–
19 Dec 2006 NZ$113.0 NZ$177.0
AUSTRALIA
Novotel Brisbane
296 Strata Volumetric Freehold
–
18 Feb 2010 A$63.5 A$68.0
Mercure Brisbane
194
Freehold
–
18 Feb 2010
A$53.7 A$62.0
Ibis Brisbane
218
Freehold
–
18 Feb 2010
Mercure Perth
239
Strata Freehold
–
18 Feb 2010 A$36.2 A$46.0
Ibis Perth
192
Freehold
–
18 Feb 2010 A$21.6 A$32.0
MALDIVES
Angsana Velavaru
113 50-year leasehold interest
commencing 26 Aug 1997 31 years 31 Jan 2013 US$71.0 US$66.0
Jumeirah
Dhevanafushi
37 50-year leasehold interest
commencing 15 Jun 2006 39 years 31 Dec 2013 US$59.6 US$49.5
JAPAN
Hotel MyStays
Asakusabashi
139
Freehold
–
19 Dec 2014 ¥3,200 ¥3,802
Hotel MyStays
Kamata
116
Freehold
–
19 Dec 2014 ¥2,600 ¥2,741
UNITED KINGDOM
Hilton Cambridge
City Centre
198 125-year leasehold interest
commencing 25 Dec 1990 99 years
(2)
1 Oct 2015
£61.5
£62.3
15
Annual Report 2016
OVERVIEW AND
FINANCIAL REVIEW