F07-000696-01

?.. ' REPORT& VALUATION F07-000696-01 ~NVESTMENTAND OWNER-OCCUPIED PROPERTIES AUGUST2007 Valuation : F07-000696-01 Report No. Our Ref : KBlGUAHlMNWJSUyl Date 2nd August, 2007 The Directors MTR Corporation Limited MTR Tower Telford Plaza 33 Wai Yip Street Kowloon Bay Kowloon Dear Sirs. Re: Investment and Owner-occupied Properties Instructions, In accordance with your instructions for us to carry out market valuations of Purpose 8 Date of the property interests as set out in the attached schedule of valuation in Valuation which MTR Corporation Limited (the "Corporation") has interests, we confirm that we' have carried out inspections, made relevant enquiries and searches and obtained such further information as we consider necessary for the purpose of providing you with our opinion of the values of the property interests as at 30th June, 2007 (the 'date of valuation") for accounting purpose. Basis of Our valuation of each property interest represents its market value which in Valuation accordance with the Valuation Standards on Properties of the Hong Kong Institute of Surveyors is defined as "the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm's-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion." Valuation Our valuation of each property interest excludes an estimated price inflated Assumptions or deflated by special terms or circumstances such as atypical financing, sale and leaseback arrangement, special considerations or concessions granted by anyone associated with the sale, or any element of special value. DTZ DTZ AK?Rfi 16lF. 1063 K~ng'sRoad. Quarry Bay. Hong Kong SWB!;@~%RS11063%16# Tel: +a52 2507 0507 a% +852 2507 0507 Fax: +a52 2530 1502 BE3 : +a52 2530 1502 www.dtz.com/cn www.dtz.com/cn MTR Corporation Limited Date of Valuation: Investment and Owner-occupied Properties 30th June, 2007 No allowance has been made in our valuations for any charges, mortgages or amounts owing on the properties nor any expenses or taxation which may be incurred in effecting a sale. Unless otherwise stated, it is assumed that the properties are free from encumbrances, restrictions and outgoings of any onerous nature which could affect their values. Method of Unless otherwise stated, we have valued the property interests by (i) direct Valuation comparison approach assuming sale of each property interest in its existing state with the benefit of immediate vacant possession and by making reference to comparable sales transactions as available in the relevant market, or (ii) investment approach by capitalization of the net income derived from the existing tenancies with due allowance for any reversionary potential of the property interests. Source of We have relied to a very considerable extent on the information given by you Information and have accepted advice given to us on such matters as planning approvals, statutory notices, easements, tenure, identification of properties, particulars of occupancy, tenancy details, floor plans and floor areas, number of parking spaces, interest attributable to the Corporation and all other relevant matters. Dimensions and measurements are based on the copies of documents or other information provided to us by you and are therefore only approximations. No on-site measurement has been carried out. LandTenure In valuing the property interests the Government Leases of which expired before 30th June, 1997, we have taken into account that under the provisions contained in Annex Ill of the Joint Declaration of the Government of the United Kingdom and the Government of the People's Republic of China on the Question of Hong Kong as well as in the New Territories Leases (Extension) Ordinance such leases have been extended without premium until 30th June, 2047 and that rents of three per cent. of the rateable value are charged per annum from the date of extension. 1 &r- 3 3 9 3 Valuation Report No. F07-000696-01 218 .:{ a ij -. .~ MTR Corporation Limited Date of Valuation: Investment and Owner-occupied Properties 30th June, 2007 Title We have not been provided with copies of the title documents relating to the Investigation - property interests but have caused searches to be made at the Land Registry. However, we have not searched the original documents to verify ownership or to ascertain any amendments. All documents have been used for reference only and all dimensions, measurements and areas are approximate. Site We have inspected the exterior and, wherever possible, the interior of the lnspectlon properties. However, no structural survey has been made, but in the course of our inspections, we did not note any serious defects. We are not, however, able to report whether the properties are free of rot, infestation or any other structural defects. No test was carried out on any of these~ices. Non-Publication Neither the whole nor any part of this letter and schedule of valuation or any 8 Savings Clause reference thereto may be included in any document, circular or statement without our prior written approval of the form and context in which they will appear. Finally and in accordance with our standard practice, we must state that this letter and schedule of valuation are for the use only of the party to whom they are addressed and no responsibility is accepted to any third party for the whole or any part of their contents. We hereby enclose our schedule of valuation. K. 6. Wo Surveyor Director ValuationReport No. F07-000696-01 MTR Corporation Limited Date of Valuation: Investment and Owner-occupied Properties 30th June, 2007 Capital value in existing state as at Property interest 30th June. 2007 HKS 1. Interests attributable to the MTR Corporation (being 50% interesls) in Telford Plaza II, shopping arcade including various car parking spaces. Telford Gardens. No. 33 Wai Yip Street. Kowloon Bay. Kowloon' 2. Telford Plaza I including shopping arcade, podium shops, recreational facilities. cinema, school and market; and various car parking spaces, Telford Gardens, ' . No. 33 Wai Yip Street, . ., Kowloon Bay. Kowloon 3. Luk Yeung Galleria including shopping arcade. podium and upper podium shops. supemlarket and market stalls; and various car parking spaces in Luk Yeung Sun Chuen. Nos. 22-66 Wai Tsuen Road, Tsuen Wan. New Territories 4. Paradise Mall including market stalls; various private car parking spaces in the West Carpark Block; LP gas storage compound; and club house and associated recreational facilities in Heng Fa Chuen. No. 100 Shing Tai Road. Chai Wan. Hong Kong Valuation Report No. F07-000696-01 418 MTR Corporation Limited Date of Valuation: Investment and Owner-occupied Properties 30th June: 2007 Capital value in existing state as at Property interest 30th June, 2007 HK8 5. Ground Floor Unit. No. 308 Nathan Road. Yaumatei, Kowloon 6. Ground Floor Unit. No. 783 Nathan Road, Mongkok, Kowloon 7. Kindergarten on Podium Level and car park Nos. 1-126, New Kwai Fong Gardens. Nos. 12-20 Kwai YI Road, Kwai Chung. New Territories 8. Various private car parking spaces on Car Park Floors PI, P2 and P3 al Section B. Phase I. Komhill. No. 10 Hong Yue Street. Quarry Bay. Hong Kong 9. 50% interesls of Shop Nos. 44.85. 86. 87. 88.89. 90, 91, 92, 93 on 1st Floor of Ihe wmmercial complex, Adrniralty Centre. No. 18 Harwurt Road. Adrniralty. Hong Kong 10. Neon light sign on the roof of Tower 1, Admiralty Centre. No. 18 Harwurt Road. Admiralty. Hong Kong Valuation Report No. F07-000696-01 il $ MTR Corporation Limited Date of Valuation: Investment and Owneroccupied Properties 30th June. 2007 Capital value in existing state as at Property interest 30th June, 2007 HK$ 11. Commercial development, kindergarten and commercial carpark, Tierra Verde. No. 33 Tsing King Road. Tsing Yi. New Territories 12. 51% interests of various plivate car parking spaces in One lntemal~onalFinance Centre. No. 1 Hahour View Street; and 100% interest of units 3306 to 3316 on 33rd Floor. 35th to 430% 45th to 52nd Floors and 51% interests of 1.172 car parking spaces on Basement 3. Basement 4 and Basement 5. Two International Finance Centre, No. 8 Finance Street. Central, Hong Kong 13. Indoor Sports Hall. NO. 11 Hoi Fai Road. Tai Kok Tsui. Kowloon 14. Portion of Market. Olympian City II. No. 18 Hoi Ting Road. Tai Kok Tsui. Kowloon 15. Wet Market. Caribbean Coast. Kin Tung Road, Tung Chung. Lantau Island. New Territories Valuation Report No. F07-000696-01 +.I MTR Corporation Limited Date of Valuation: Investment and Owner-occupied Properties 30th June, 2007 Capital value in existing state as at Property interest 30th June. 2007 HK$ 16. Commercial Development known as The Lane. 16 private car parking spaces and 1 motor cyde parking space in Residence Oasis. No. 15 Pui Shing Road, Hang Hau. Tseung Kwan 0. Sai Kung, New Territories 17. 51% interest of car park development (comprising 450 public car parking spaces, 46 ancillary residentialcar parking spaces. 8 ancillary commercial car parking spaces and 10 motor cycle parking spaces), No. 8 Clear Water Bay Road (Choi Hung Park 8 Ride). Choi Hung. Kowloon 18. 70% interest of Commercial Development (known as The Edge) and 50 Commercial Car Parking Spaces of The Grandiose. No. 9 Tong Chun Street, Tseung Kwan 0, Sai Kung. New Territories 19. Units 3301 to 3305 on 33rd Floor. Two International Finance Centre. No. 8 Finance Street. Central, Hong Kong 20. ORice No. 2101 on 21sl Floor. World-wide House. No. 19 Des Voeux Road Central, Hong Kong Valuation Report No. F07-000696-01 718 :I 4 MTR Corporation Limited Date of Valuation: Investment and Owner-occupied Properties 30th June, 2007 Capital value in existing state as at Property interest 30th June, 2007 HKS 21. MTR Tower a! Telfwd Plaza and 52 Car Parking Spaces at Telford Gardens.

Load more