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Notes to the financial statements
26. Significant related party transactions
For the purposes of these financial statements, parties are considered to be related to A-REIT if the Manager
(as manager of A-REIT) has the ability, directly or indirectly, to control the party or exercise significant influence
over the party in making financial and operating decisions, or vice versa, or where the Manager and the party
are subject to common significant influence. Related parties may be individuals or other entities. The Manager
and Property Manager are indirect wholly-owned subsidiaries of a significant Unitholder of A-REIT.
In the normal course of its business, A-REIT carried out transactions with related parties on terms agreed between
the parties. During the financial year, in addition to those disclosed elsewhere in the financial statements, there
were the following significant related party transactions:
2010 2009
$’000 $’000
Fees paid/payable to the Property Manager 16,788 17,081
Service charge and reimbursements paid/payable to
related companies of the Manager 4,074 4,729
Management fees paid/payable to the Manager 23,421 31,698
Acquisition fees paid/payable to the Manager 1,310 2,718
Development management fees paid/payable to the Manager 4,639 4,636
Acquisition of properties from related parties of the Manager 116,000 -
Reimbursements paid/payable to the Manager 173 119
Carpark income received/receivable from Property Manager (2,673) (1,971)
Marketing fees paid to the Property Manager during the year 4,340 5,458
8th Annual Report FY09/10
149