123
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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
2,434,587 2,135,799 111.2 101.2
Malaysia
Somerset Ampang
Kuala Lumpur
(7)
No. 187 Jalan Ampang,
50450 Kuala Lumpur
Freehold
Not
applicable
Not
applicable
Not
applicable
56,355 62,809
2.6
3.0
United States of America
Element New York
Times Square West
(2)
311 West 39th Street,
between 8th and 9th Avenue,
New York, New York, 10018
Leasehold 99 years 97 years
– 246,121
–
11.3
–
Vietnam
Somerset Grand Hanoi
No. 49 Hai Ba Trung Street, Hanoi
Leasehold 45 years 22 years 23 years 109,519 102,080
5.0
4.8
Somerset Hoa Binh Hanoi
106 Hoang Quoc Viet Street, Hanoi
Leasehold 36 years 26 years 27 years
48,307 48,231
2.2
2.3
Somerset West Lake Hanoi
No. 254D Thuy Khue Road, Hanoi
Leasehold 49 years 26 years 27 years
15,569 16,495
0.7
0.8
Somerset Chancellor Court
Ho Chi Minh City
Nos. 21-23 Nguyen
Thi Minh Khai Street, District 1,
Ho Chi Minh City
Leasehold 48 years 26 years 27 years
59,845 54,528
2.7
2.6
Somerset Ho Chi Minh City
No. 8A Nguyen Binh
Khiem Street, District 1,
Ho Chi Minh City
Leasehold 45 years 24 years 25 years
44,553 41,432
2.0
2.0
Balance carried forward
3,014,856 2,461,374 137.7 116.7
(2)
On 19 August 2015, the Group acquired the Element New York Times Square West property from LG-39 Ground Tenant LLC, 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.
