117
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
Ascott Residence Trust
Annual Report 2015
Portfolio Statements
As at 31 December 2015
By Geography
(continued)
Group
(continued)
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
%
Balance brought forward
1,191,929 1,018,859
54.4 48.3
People’s Republic of China
(continued)
Somerset Heping Shenyang No. 80 Taiyuan North Street,
Heping District, Shenyang 110000
Leasehold 40 years 31 years 32 years
88,734 90,181
4.1
4.3
Somerset Grand Central
Dalian
(6)
Nos. 128-2 Jinma Road,
Dalian Development Area,
Dalian 116600
Leasehold 50 years 41 years 42 years 118,580 120,255
5.4
5.7
Citadines Gaoxin Xi’an
(7)
1-26/F, No. 13 Gaoxin Si Road, Hi-Tech
Zone, Xi’an, Shaanxi Province
Leasehold 50 years 40 years 41 years
58,425 56,824
2.7
2.7
Citadines Zhuankou
Wuhan
(7)
Building C2 and C3, Xiang Long
Times Business Center, Plot 3R2,
Wuhan Economic and Technological
Development Zone, Wuhan,
Hubei Province
Leasehold 40 years 28 years 29 years
49,517 53,257
2.2
2.5
Indonesia
Ascott Jakarta
Jalan Kebon Kacang
Raya No 2, Jakarta 10230
Leasehold 26 years
8 years
9 years
64,324 58,872
2.9
2.8
Somerset Grand Citra Jakarta Jalan Prof Dr Satrio Kav. 1, Jakarta 12940 Leasehold 30 years
9 years 10 years
40,685 37,956
1.9
1.8
Balance carried forward
1,612,194 1,436,204
73.6 68.1
(6)
On 20 June 2014, the Group completed the acquisition of a serviced residence property in the People’s Republic of China from Winner Sight Investments Limited, an unrelated third party. The valuation was
based on the discounted cash flow approach.
(7)
On 18 August 2014, the Group completed the acquisition of two serviced residence properties in the People’s Republic of China and one serviced residence property in Malaysia from related corporations.
The valuations were based on the discounted cash flow approach.
The accompanying notes form an integral part of these financial statements.
