Annual Report 2007 - The Link REIT

Annual Report 2007
The Link Real Estate Investment Trust
181
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
151. Retail and Carpark within Sau Mau Ping (III) Estate
Kowloon East 140.0 205 1.45M 7.45% 25.7M 9.00% 26.4M 26.1M 5.56% 9.17%
Brief Description:
The property comprises a 4-storey carpark building with a retail shop unit located on the ground
floor. The property was completed in 1996. 205 car parking spaces are provided on the ground to
thirdfloor of the carpark building. Access to the carpark is via the entrance at the junction of Sau
Mau Ping and Sau Fung Streets.
Title Details: The property is within New Kowloon Inland Lot No. 6453 held under Government Lease for a
term of 50 years commencing from 23 February 2007 (As at the date of valuation, title details are
in the process of being transferred.)
152. Carpark within Ying Ming Court
Tseung Kwan O 0.0 274 2.15M 8.50% 23.7M 9.00% 26.0M 24.9M 8.63% 9.66%
Brief Description:
The property comprises a 2-storey carpark building which was completed in 1989. 274 car parking
spaces are provided within the property. Access to the carpark is via the Po Lam Road North
entrance.
Title Details: The property is within Section A of Junk Bay Town Lot No. 4 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.
153. Retail and Carpark within Fung Wah Estate
Hong Kong East 912.0 161 1.64M 8.25% 23.9M 9.25% 24.9M 24.4M 6.71% 9.54%
Brief Description:
The property comprises a 2-storey carpark building and various shop units located within the
residential blocks of Hiu Fung House and Sau Fung House. The property was completed in 1993.
161 car parking spaces are provided within the carpark building and various “open” car parking
spaces located along the roads within the estate. Access to the carpark is via the Fung Ha Road
entrance.
Title Details: The property comprises 5,638/76,232 shares within Chai Wan Inland Lot No. 169 held under
Government Lease for a term of 50 years commencing from 10 February 2000.
154. Carpark within Sau Mau Ping (I) Estate
Kowloon East 0.0 395 0.59M 8.50% 23.0M 9.00% 22.7M 22.9M 2.57% 8.90%
Brief Description:
The property comprises a 3-storey carpark podium within the residential block of Sau Ming
House. It was completed in 2002. 395 car parking spaces are located on the ground to second
floor of the carpark building. Access to the carpark is via the Hiu Kwong Street entrance.
Title Details: The property is within New Kowloon Inland Lot No. 6453 held under Government Lease for a
term of 50 years commencing from 23 February 2007 (As at the date of valuation, title details are
in the process of being transferred.)
155. Carpark within Wang Fuk Court
Tai Po 0.0 408 2.04M 8.50% 23.5M 9.00% 25.7M 24.6M 8.30% 9.67%
Brief Description:
Title Details:
The property comprises a 4-storey with basement level carpark building which was completed
in 1983. 408 car parking spaces are provided within the property. Access to the carpark is via the
Kwong Wang Street entrance.
The property is within Section A of Tai Po Town Lot No. 27 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.