Annual Report 2007 - The Link REIT

176 The Link Real Estate Investment Trust Annual Report 2007
Valuation Report
No.
Property Name
District
IFA
(sqm)
Car Park
No.
Net
Passing Capitalisation DCF Analysis
Income
Value
Value
HK$pa Yield (HK$) Target IRR (HK$)
ASSESSMENT
as at 31 March 07
Value
(HK$)
Initial
Yield
Analysis
Indicated
IRR
128. Retail and Carpark within Tong Ming Court
Tseung Kwan O 1,977.0 291 3.50M 7.88% 41.9M 9.00% 43.9M 42.9M 8.15% 9.33%
Brief Description: The property comprises a 5-storey carpark building with various retail shop units located on the
ground floor of the carpark building, Tong Wong House and Tong Fu House respectively. The
property was completed in 1999. 291 car parking spaces are provided on thefirst to fourthfloor
within the carpark building. Access to the carpark is via the Tong Tak Street entrance.
Title Details: The property is within Section A of Tseung Kwan O Town Lot No. 54 and comprises 1,153/98,512
shares within The Remaining Portion of Tseung Kwan O Town Lot No. 54 held under Government
Lease for a term commencing from 26 June 1997 to 30 June 2047.
129. Retail and Carpark within Ching Wah Court
Tsing Yi 1,102.0 348 3.18M 8.19% 38.8M 9.25% 40.8M 39.8M 7.99% 9.63%
Brief Description:
The property comprises a 2-storey with basement level carpark building. Two retail units and an
office unit are located on the ground andfirstfloors within the carpark building respectively. The
property was completed in 1984. 348 car parking spaces are provided within the carpark building,
with the majority of spaces covered whilst those spaces located on the roof level are “open”.
Access to the carpark is via the Tsing Chin Street entrance.
Title Details: The property is within Section A of Tsing Yi Town Lot No. 100 held under Government Lease for
a term of 99 years commencing from 1 July 1898 and has been extended for a term of 50 years
expiring on 30 June 2047 by the New Territories Leases (Extension) Ordinance.
130. Carpark within Wah Lai Estate
Tsuen Wan/
Kwai Chung 0.0 411 3.62M 8.50% 40.8M 9.00% 44.9M 42.9M 8.43% 9.70%
Brief Description:
The property comprises a 5-storey carpark podium which was completed in 2001. 411 car parking
spaces are provided within the 5-storey carpark podium of the property. Access to the carpark is
via the Lai King Hill Road entrance.
Title Details: The property comprises 21,700/102,614 shares within The Remaining Portion of Section A of Kwai
Chung Town Lot No. 445 held under Government Lease for a term of 50 years commencing from
25 May 2001.
131. Carpark within Tin King Estate
Tuen Mun 0.0 380 3.60M 8.50% 40.3M 9.00% 42.8M 41.6M 8.64% 9.41%
Brief Description:
The property comprises the ground floor to second floor of a 5-storey carpark building which
was completed in 1989. The indoor recreation centre located on the third and fourthfloor of the
carpark building does not form part of the property. 380 car parking spaces are provided within
the groundfloor to secondfloor of the carpark building and various “open” car parking spaces
along the roads within the estate. Access to the carpark is via the Tin King Road carpark entrance.
Title Details: The property comprises 4,036/197,161 shares within Tuen Mun Town Lot No. 444 held under
Government Lease for a term of 50 years commencing from 18 March 1999.
132. Retail and carpark within Wo Ming Court
Tseung Kwan O 682.0 379 3.59M 8.20% 41.4M 9.25% 43.8M 42.6M 8.42% 9.68%
Brief Description: The property comprises a 6-storey carpark building and a kindergarten unit located within the
residential block of Wo Yat House. It was completed in 1999. 379 car parking spaces are provided
within the carpark building. Access to the carpark is via the Pui Shing Lane entrance.
Title Details: The property is within Section A of Tseung Kwan O Town Lot No. 52 and comprises 728/82,796
shares within The Remaining Portion of Tseung Kwan O Town lot No. 52 held under Government
Lease for a term of 50 years commencing from 28 November 1997.