122
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
2,214,554 2,003,548 101.2 95.0
Japan
(continued)
S-Residence Hommachi
Marks
(1)
2-3-6, Tokuicho Chuo-ku,
Osaka
Freehold
Not
applicable
Not
applicable
–
17,035
–
0.8
–
S-Residence Tanimachi
9 chome
(1)
4-29, Ikutamamaemachi, Tennoji-ku,
Osaka
Freehold
Not
applicable
Not
applicable
–
18,531
–
0.8
–
S-Residence Midoribashi Serio
(1)
3-17-6, Nakamoto, Higashinari-ku,
Osaka
Freehold
Not
applicable
Not
applicable
–
15,654
–
0.7
–
S-Residence Fukushima Luxe
(1)
7-22-9, Fukushima, Fukushima-ku,
Osaka
Freehold
Not
applicable
Not
applicable
–
34,990
–
1.6
–
The Philippines
Ascott Makati
4, Ayala Glorietta Centre,
Makati City 1224
Leasehold 48 years 29 years 30 years 118,769 116,790
5.4
5.5
Somerset Millennium Makati
104 Aguirre Street, Legaspi Village,
Makati City 1229
Freehold
Not
applicable
Not
applicable
Not
applicable
15,054 14,476
0.7
0.7
Salcedo Residences
(4)
HV Dela Costa, Corner LP Leviste
Street, Salcedo Village,
Makati City 1227
Freehold
Not
applicable
–
Not
applicable
–
985
–
–
Balance carried forward
2,434,587 2,135,799 111.2 101.2
(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.
(4)
On 2 November 2015, the Group completed the sale of Salcedo Residences to Infinity Primetowers Makati, Inc., an unrelated third party. The valuation was based on the discounted cash flow approach.
The accompanying notes form an integral part of these financial statements.
