Sunway REIT AR 2015 Part 2.Pdf
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96 SUNWAY REIT ANNUAL REPORT 2015 PORTFOLIO AT A GLANCE GEOGRAPHICAL CONTRIBUTION BY PROPERTY VALUE OF RM6.32 BILLION AS AT 30 JUNE 2015 19% KUALA LUMPUR 8% PENANG SUNWAY TOWER SUNWAY PUTRA MALL SUNWAY CARNIVAL SHOPPING MALL SUNWAY PUTRA HOTEL SUNWAY HOTEL SEBERANG JAYA SUNWAY PUTRA TOWER SUNWAY HOTEL GEORGETOWN 1% PERAK 72% SELANGOR SUNCITY IPOH HYPERMARKET SUNWAY PYRAMID SHOPPING MALL SUNWAY RESORT HOTEL & SPA PYRAMID TOWER EAST MENARA SUNWAY SUNWAY MEDICAL CENTRE WISMA SUNWAY SUNWAY REIT ANNUAL REPORT 2015 97 PORTFOLIO AT A GLANCE (CONT’D) Bandar Sunway To Subang Airport Subang Golf Club Freescale (Motorola) Federal Highway Sunway-Setia Jaya Station Railway Line To Kelana Jaya Proposed KTM-BRT integration at ajipan Taylor’s College w Sine Darby SS12 PJS8 Sunway SJ Station Medical Centre PJS 2 Sri KL Toll Plaza an Ke Station Mentari International r School (NPE) Masjid Al-Husna Metropolitan Persia College at Bandar Sunway TO KUALA LUMPUR U-TURN U-TURN CITY CENTRE New Pantai Expressway Link (NPE) TO SUBANG (LDP) JAYA Sunway Sunway Pyramid Sunway Pyramid 3 Shopping Mall Metro Pyramid PROPOSED Tower East NPE LINK PJS9 (Residential Area) Sunway Resort n a Hotel & Spa p Station ) i j P a The Pinnacle D w L Sunway Sunway Lagoon ( e T Line Sunway PJS7 K Sun-U g R Lagoon (Residential Area) n L n Apartment o a PJS11 r Menara h c a Hostel i u s Sunway P r e a Jalan PJS 11/9 P r imur a T s SS13 Sunway n Kompleks BRT Sunway a goon International m a Sunway Lagoon Club a School D a y a Sun - U Sunway Sunway Jalan L Palmville r h Residence Medical Medical u Park & Ride Sunway University Resort Condo b 1,200 bays Sunway College Centre Extension Centre e L SunU-Monash Sun Med Jalan Lagoon Selatan Station Jalan Lagoon Selatan Station Y Service A W Future Residences Development PJS9 MONASH Sunway Geo (Residential Area) Taylor’s Commercial UNIVERSITY Luxury Lakeside TO SUN Condominium Boutique/Retail Business Offices & University MALAYSIA Retail Suites U-TURN BayRocks Garden Luxury Sunway Waterfront Villas Condominium South Quay Sunway Lakeside South Quay Monash TO KLIA /KLANG / Station Offices KOTA KEMUNING Residences A’marine Condominium Sunway Toll Plaza Designer Designer Nautica Residences Condominium Residences TO KUALA LUMPUR LaCosta CITY CENTRE Condominium (KESAS) U-TURN TO Sunway SUNWAY Toll Plaza Proposed LRT-BRT (LDP) integration at USJ 7 USJ-Sunway Station Station Klang River TO PUCHONG / PUTRAJAY TO PUTRA HEIGHTS A LEGEND Malaysia’s First Elevated Bus Rapid Transit (“BRT”) Sunway Line Kelana Jaya LRT (“Light Rail Transit”) Extension Link (expected completion by 2015) KTM Komuter Railway Road expansion / improvements by Sunway Completed new KESAS link by Sunway Elevated Pedestrian & Canopy Walk U-turn Malaysia’s First Bus Rapid Transit System to enhance the connectivity within Bandar Sunway 98 SUNWAY REIT ANNUAL REPORT 2015 RETAIL RESILIENT CONSUMERISM SUNWAY REIT ANNUAL REPORT 2015 99 PORTFOLIO SUMMARY (RETAIL) SUNWAY PYRAMID SHOPPING MALL SUNWAY CARNIVAL SHOPPING MALL Location Location Selangor Penang Date of acquisition Date of acquisition 8 Jul 2010 8 Jul 2010 Acquisition price (RM million) Acquisition price (RM million) 2,132 232 Year of completion Year of completion Phase 1 in 1997; Phase 2 in 2007 2007 Title details & expiry date Title details & expiry date - PN 17414 Lot No. 62059 - PN 1816 Lot No. 5497 21 February 2102 (commenced 22 February 2003, approx. 21 October 2092 (commenced 22 October 1993, approx. 87 years remaining) 77 years remaining) - PN 9500 Lot No. 51175 1 April 2097 (commenced 2 April 1998, approx. - PN 1817 Lot No. 5498 82 years remaining) 21 October 2092 (commenced 22 October 1993, approx. - PN 9495 Lot No. 32 77 years remaining) 1 April 2097 (commenced 2 April 1998, approx. 82 years remaining) - PN 1818 Lot No. 5499 - HS(D) 259957 Lot No. PT 1312 21 October 2092 (commenced 22 October 1993, approx. 1 April 2097 (commenced 2 April 1998, approx. 77 years remaining) 82 years remaining) - HS(D) 233143 Lot No. PT 891 All in Mukim1, Daerah Seberang Perai Tengah, 14 August 2105 (commenced 15 August 2006, approx. 90 years remaining) Negeri Pulau Pinang. All in Bandar Sunway, Daerah Petaling, Negeri Selangor. Tenure Tenure Leasehold - 99 years Leasehold - 99 years Encumbrances Encumbrances i) Charged to Public Investment Bank Berhad i) Charged to HwangDBS Investment Bank Berhad ii) Private Caveat by Public Bank Berhad iii) Charged to HSBC Amanah Malaysia Berhad Appraised value (RM million) Appraised value (RM million) 3,200 340 Date of latest valuation* Date of latest valuation* June 2015 June 2015 * Note: Valued by Knight Frank (Proprietor: Ooi & Zaharin Sdn Bhd) 100 SUNWAY REIT ANNUAL REPORT 2015 PORTFOLIO SUMMARY (RETAIL) SUNCITY IPOH HYPERMARKET SUNWAY PUTRA MALL Location Location Perak Kuala Lumpur Date of acquisition Date of acquisition 8 Jul 2010 19 Apr 2011 Acquisition price (RM million) Acquisition price (RM million) 46 219 Year of completion Year of completion 2005 1988 Title details & expiry date Title details & expiry date - PN 258216 Lot No. 331232 - Geran 10012 Lot No. 38, Seksyen 51 22 February 2100 (commenced 23 February 2001, approx. 85 years remaining) Mukim Hulu Kinta, Daerah Kinta, Negeri Perak. Kuala Lumpur, Wilayah Persekutuan. Tenure Tenure Leasehold - 99 years Freehold Encumbrances Encumbrances i) Charged to Public Investment Bank Berhad i) Charged to Public Investment Bank Berhad ii) Charged to HSBC Amanah Malaysia Berhad ii) Charged to HSBC Amanah Malaysia Berhad iii) Private Caveat by Public Bank Berhad iii) 30 years lease to Lembaga Letrik Negara Tanah Melayu (Tenaga Nasional Berhad) expiring 4 April 2017 iv) Private Caveat by Trustee Appraised value (RM million) Appraised value (RM million) 60 588 Date of latest valuation* Date of latest valuation** June 2015 June 2015 * Note: Valued by Knight Frank (Proprietor: Ooi & Zaharin Sdn Bhd) ** Note: Valued by CH Williams Talhar & Wong Sdn Bhd SUNWAY REIT ANNUAL REPORT 2015 101 PORTFOLIO SUMMARY (RETAIL) Sunway Sunway Pyramid Carnival SunCity Ipoh Sunway Putra Retail Assets Shopping Mall Shopping Mall Hypermarket Mall1 Total Land Area (sq.ft.) 820,070 348,428 354,994 193,6212 1,717,113 Gross Floor Area (sq.ft.) 2,454,795 769,546 193,408 988,988 4,406,737 Gross Floor Area - Carpark (sq.ft.) 1,873,470 213,554 - 575,2582 2,662,282 Net Lettable Area (sq.ft.) 1,610,384 464,821 181,216 557,689 2,814,110 Net Lettable Area - Convention Centre (sq.ft.) 143,467 32,292 - - 175,759 Number of Parking Bays > 3,900 > 1,100 400 > 1,5002 > 6,900 Number of Tenancies 746 214 1 222 1,183 Occupancy as at 30 June 2015 (%) 98.4 96.1 100.0 82.43 95.1 Annual Shopper Traffic (million) > 34.0 > 8.0 N/A - > 42.0 Revenue (RM million) 283.7 42.7 5.0 1.3 332.7 Net Property Income (RM million) 212.8 27.0 4.7 (7.6) 236.9 Appraised Value as at 30 June 2015 3,200 340 60 588 4,188 (RM million)4 Value per sq.ft. (RM) 1,825 684 331 1,054 N/A Capitalisation Rate - Current / 6.00 to 8.00 6.50 to 8.00 7.50 / 7.75 6.25 to 6.75 N/A Reversionary (%) 1 Closed for refurbishment since May 2013 and re-opened on 28 May 2015 2 For the entire complex comprising Sunway Putra Mall, Sunway Putra Hotel and Sunway Putra Tower 3 Secured tenancies 4 All the properties are valued by Knight Frank (Proprietor: Ooi & Zaharin Sdn Bhd), except for Sunway Putra Mall which is valued by CH Williams Talhar & Wong Sdn Bhd N/A Not Applicable 102 SUNWAY REIT ANNUAL REPORT 2015 PORTFOLIO DETAILS SUNWAY PYRAMID SHOPPING MALL Sunway Pyramid Shopping Mall, the trophy asset of Sunway REIT is one to our other assets such as Sunway Resort Hotel & Spa, Pyramid of the largest malls in Malaysia and has won many prestigious awards. Tower East, Menara Sunway and Sunway Medical Centre and enjoys It is the first Health Promoting Mall in Malaysia which promotes healthy convenient access to Kuala Lumpur and Klang Valley via five major living among shoppers who patronise this mall. expressways which include the New Pantai Expressway, North Klang Valley Expressway, KESAS Expressway, Damansara-Puchong Highway As the country’s first thematic mall, Sunway Pyramid Shopping Mall has and the Federal Highway. an Egyptian-inspired architectural design with four themed precincts each with their own unique interior designs and retail concepts; Asian The mall serves as a one-stop destination featuring a wide variety Avenue, Oasis Boulevard, Fashion Central and Marrakesh. of dining, fashion, specialty offerings and entertainment, including a 12-screen cineplex, Malaysia’s first and largest in-mall ice-skating rink, The mall is located within the heart of an internationally renowned a convention centre which hosted various international conferences township known as Sunway Resort City which is master-planned and and multi-storey parking facilities. developed by the Sponsor, Sunway Berhad. It is seamlessly connected MALAYSIA’S FIRST HEALTHY LIFESTYLE SHOPPING MALL No. 3 Jalan PJS 11/15, Bandar Sunway, 47500 Selangor Darul Ehsan ONGOING INITIATIVES – IN COLLABORATION WITH THE SPONSOR Sunway REIT’s Sponsor, Sunway Berhad, is currently undertaking the Sunway Pyramid Shopping Mall Phase 3 project, which will feature an additional 2 levels of retail floors with NLA of approximately 63,000 sq.ft., 11 levels of car park and a hotel facility. This project, which will be completed in 1H CY2016, will be connected to Sunway Pyramid Shopping Mall via basement car park levels and Lower Ground One (“LG1”). The Asset Manager shall collaborate with the Sponsor to ensure seamless connection as well as future operations of the retail space.