OPERATIONS REVIEW AUSTRALIA 14 PROPERTIES S$50.0 million TOTAL GROSS PROFIT (FY 2023) S$962.6 million VALUATION (as at 31 December 2023) S$171.2 million TOTAL REVENUE (FY 2023) 2,840 UNITS Pullman Sydney Hyde Park KEY MARKET Australia is one of CLAS’ key markets, contributing 15% of the total gross profit for FY 2023. As at 31 December 2023, CLAS’ Australia portfolio comprises one leasehold and 13 freehold properties located across Brisbane, Sydney, Melbourne and Perth. Of the 14 properties in Australia, there are five serviced residences under master leases, two serviced residences and seven hotels under management contracts. MASTER LEASES CLAS has five serviced residences under master leases. The 140-unit Quest Sydney Olympic Park is a 99-year leasehold property located within Sydney Olympic Park, near ANZ Stadium and Qudos Bank Arena, a large entertainment and sporting complex. The 81-unit Quest Campbelltown is well-located in south-west Sydney’s urban hub, an established residential, commercial and industrial area, while the 91-unit Quest Mascot is a five-minute drive away from Sydney Airport. Strategically located in Sydney’s second largest business district of Macquarie Park is the 111-unit Quest Macquarie Park, which is a five-minute drive to Macquarie University, Macquarie University Hospital and Macquarie Centre. The 100-unit Quest Cannon Hill is located in the emerging suburb of Cannon Hill in Brisbane, within a five-minute walk to the train station and with direct access to the CBD. Including the extension period at the lessees' option, each of the master leases in Australia has a remaining lease term of at least 16 years. MANAGEMENT CONTRACTS CLAS has two serviced residences under management contracts. The 85-unit Citadines St Georges Terrace Perth is conveniently located in Perth’s CBD, along St Georges Terrace while the 380-unit Citadines on Bourke Melbourne is situated in the heart of Melbourne’s CBD, close to the Parliament House and 101 Collins Street. CLAS also has seven hotels under management contracts. The 150-unit Citadines Connect Sydney Airport is a limited-service business hotel situated adjacent to the Quest Mascot serviced residence and within proximity to the Sydney Airport. The 241-unit Pullman Sydney Hyde Park and the 255-unit Sydney Central Hotel (formerly Novotel Sydney Central) are business hotels located in the Sydney CBD, situated near well-known attractions such as the Sydney Darling Harbour and Paddy’s Market. Courtyard by Marriott Sydney-North Ryde is a 196-unit business hotel centrally located in Macquarie Business Park and close to several commercial buildings popular with multinational corporations. Novotel Sydney Parramatta is situated in the Parramatta CBD, Sydney’s fast-growing second CBD. The 194-unit business hotel is located close to visitor ANNUAL REPORT 2023 31 Overview Leadership Portfolio & Performance Sustainability & Governance Financial Statements and Other Information
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