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The 574-room premier deluxe conference hotel is situated
on the banks of the historic Singapore River and close to the
Central Business District, Clarke Quay, Robertson Quay, Boat
Quay, Orchard Road and the Integrated Resorts. The hotel
offers lifestyle comfort and business-enabling conveniences
to facilitate travellers’ executive accommodation and leisure
needs, including La Residenza, comprising 24 serviced
suites, which have high ceilings and come in studio, one or
two bedroom units.
The adjoining Waterfront Conference Centre has 33 versatile
meeting rooms that cover a total area of 6,039 sq m,
including a six-metre high column-free ballroom covering
853 sq m and seating up to 900 guests banquet-style and
1,100 guests theatre-style. With one of the best designed
conference venues in the region, offering unparalleled
cutting edge meeting facilities, it is a choice venue for many
multinational organisations.
With a fully equipped Business Centre and four serviced
offices, the hotel offers the full range of secretarial and
business support services. A salon providing hair, beauty and
wellness services, satisfies the needs of the leisure guests.
The hotel has recently completed its makeover project in
2016 and unveiled a brand new lobby and an integrated
dining destination. This new concept is modern, vibrant and
eclectic and the elements of the East and West connect to
the modern international travelling community. The lobby
area comprises three new F&B outlets including Food
Capital, an interactive buffet restaurant, Grissini, an Italian
grill restaurant and Tempo, a dynamic bar.
Notable accolades include:
• Singapore’s Leading Conference Hotel 2015 (Winner) by
World Travel Awards
• SHA Excellent Service Award 2015 (12 Star, 4 Gold,
1 Silver)
• BCA Green Mark Platinum (2015 – 2018)
• PUB Water Efficient Building Gold Award (2014 – 2017)
(1) The basement level car park facility was not acquired
by H-REIT from City Developments Limited ("
CDL
").
However, the hotel enjoys a right of easement to use
the basement level car park facility.
(2) H-REIT leases from CDL the second level of Waterfront
Plaza which comprises the Waterfront Conference
Centre which H-REIT in turn sub-lets to Republic
Hotels & Resorts Limited ("
RHRL
"). Rental income
received from RHRL is thereafter paid to CDL as rental
expense.
(3) The property was valued by CBRE Pte. Ltd. using a
combination of the Capitalisation, Discounted Cash
Flow and Sales Comparison approaches.
PROPERTY DETAILS
Number of guest rooms:
550 rooms and
24 La Residenza serviced suites
Number of food & beverage outlets:
Three outlets comprising Food Capital, Grissini
and Tempo Bar
Banquet/Conference/Meeting facilities:
33 versatile meeting rooms covering 6,039
sq m, including a six-metre high column-
free ballroom of 853 sq m and seating up to
900 guests banquet-style and 1,100 guests
theatre-style
Other facilities:
A fully equipped Business
Centre, hair, beauty and wellness services
and four units of fully furnished Serviced
Offices offering a range of secretarial and
business support services including on-site
IT support, video conferencing facilities and
high-speed internet connection
Car park facilities:
287 car park lots
(1)
Land area:
10,860.2 sq m
(including adjoining Waterfront Plaza)
(2)
Gross floor area:
51,726.0 sq m
(including adjoining Waterfront Plaza)
(2)
Title:
75-year leasehold interest
commencing from 19 July 2006
Vendor:
City Developments Limited
Purchase price at 19 July 2006:
S$234.1 million
Valuation
(3)
as at 31 December 2016:
S$348.0 million
MASTER LEASE DETAILS
Master lessee:
Republic Hotels & Resorts
Limited, a subsidiary of M&C
Term of lease:
20 years from 19 July 2006 with an option to
renew for another 20 years
Minimum rental income:
S$7.2 million
comprising a fixed rent of S$3.0 million and
a service charge of S$4.2 million per annum
FY 2016 KEY FINANCIALS
Rental income:
S$18.1 million
Net property income:
S$16.7 million
Average occupancy rate:
81.8%
47
Annual Report 2016
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