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(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 Jones Lang Lasalle Property Consultants Pte. Ltd. using the Discounted Cash Flow approach.
(3)
Based on the average exchange rate of A$1.00 = S$1.0280.
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 center 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
Pantry Restaurant, GourmetBar
and Two Donkeys 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 2016:
A$68.0 million
A$62.0 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 2016 KEY FINANCIALS
Rental income:
S$5.2 million
(3)
(A$5.1 million)
S$2.6 million
(3)
(A$2.5 million)
S$1.7 million
(3)
(A$1.7 million)
Net property income:
S$5.2 million
(3)
(A$5.1 million)
S$2.6 million
(3)
(A$2.5 million)
S$1.7 million
(3)
(A$1.7 million)
Average occupancy rate:
79.4%
77.6%
79.2%
59
Annual Report 2016
PROPERTY PORTFOLIO