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Ascott Residence Trust
Annual Report 2015
Portfolio Statements
As at 31 December 2015
By Geography
Group
Description of Property
Location
Tenure of
Land
Term of
Lease
Remaining
Term of Lease
At Valuation
Percentage of
Unitholders’ funds
2015
2014
2015
$’000
2014
$’000
2015
%
2014
%
Serviced residence properties (including rental housing properties)
Singapore
Somerset Liang Court
Property Singapore
No. 177B River Valley Road,
Singapore 179032
Leasehold 97 years 61 years 62 years 207,544 206,701
9.5
9.8
Citadines Mount Sophia
Property Singapore
8 Wilkie Road, #01-26
Wilkie Edge, Singapore 228095
Leasehold 96 years 89 years 90 years 133,002 132,730
6.1
6.3
Ascott Raffles Place
Singapore
(10)
No. 2 Finlayson Green,
Singapore 049247
Leasehold 999 years 875 years –
877 years
876 years –
878 years
222,545 219,262
10.2 10.4
Australia
Citadines St Georges
Terrace Perth
185 St Georges Terrace,
Perth WA 6000
Freehold
Not
applicable
Not
applicable
Not
applicable
26,223 27,723
1.2
1.3
Citadines on Bourke
Melbourne
(1)
131-135 Bourke Street, Melbourne,
Victoria 3000
Freehold
Not
applicable
Not
applicable
– 160,333
–
7.3
–
Quest Campbelltown
(9)
1 Rennie Road, Campbelltown
NSW 2560
Freehold
Not
applicable
Not
applicable
Not
applicable
19,321 20,719
0.9
1.0
Quest Mascot
(9)
108-114 Robey Street, Mascot
NSW 2020
Freehold
Not
applicable
Not
applicable
Not
applicable
26,431 27,447
1.2
1.3
Quest Sydney
Olympic Park
(9)
6 Edwin Flack Avenue,
Sydney Olympic Park, NSW 2127
Leasehold 99 years 96 years 97 years
42,202 43,054
1.9
2.0
Balance carried forward
837,601 677,636
38.3 32.1
(1)
On 31 July 2015, the Group completed the acquisition of one serviced residence property in Australia from related corporations and four rental housing properties in Japan from related corporations and
unrelated third parties. The valuations were based on the discounted cash flow approach.
(9)
On 10 December 2014, the Group acquired a portfolio of three serviced residence properties located in Greater Sydney namely, Quest Campbelltown, Quest Mascot and Quest Sydney Olympic Park from
subsidiaries of QSA Group Pty Ltd, an unrelated third party. The valuations were based on the discounted cash flow approach.
(10)
As at 31 December 2015, these 20 serviced residence properties are leased to related corporations under master lease arrangements.
The accompanying notes form an integral part of these financial statements.
