Operations Review Australia is one of CLAS’ key markets, contributing about 13% of the total gross profit for FY 2024. Following the divestment of Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Parramatta in January 2024 and September 2024 respectively, CLAS’ Australia portfolio now comprises one leasehold and 11 freehold properties located across Brisbane, Sydney, Melbourne and Perth. Of the 12 properties in Australia, there are five properties under master leases, one property under MCMGI, and six properties under management contracts. MASTER LEASES CLAS has five properties 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 Properties 12 Total Revenue (FY 2024) S$157.5M Total Gross Profit (FY 2024) S$46.1M Units 2,450 Valuation (as at 31 December 2024) S$822.3M 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 fiveminute 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 5-minute walk to the train station and with direct access to the central business district (CBD). Including the extension period at the lessees’ option, each of the master leases in Australia has a remaining lease term of at least 15 years. Key Market Australia Featured property: Citadines Connect Sydney Airport, Australia 26 CapitaLand Ascott Trust
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