LIPPO-MAPLETREE - Lippo Malls Indonesia Retail Trust - Investor ...

Appendix EReport No.017/WPA-Report/2007Page 14.BOT Right Holder : PT. Megah Semesta Abadi.BOT Term : From 19 August 1990 (for BIP 1) and 1 May 1994 (for BIP 2) up to31 December 2030.Or a remaining BOT term of 23.52 years from the date of valuation.Land Zoning : Commercial use.Type of Development : Shopping center.No. of Building Block : 1 block.Building Level : 4 floors with 3 basement levels.Initial Opening Year : 1990 (BIP 1) and 1994 (BIP 2).Gross Floor Area : 55,196 square meters.Lettable Floor Area : 26.472 square meters.Occupancy Level : 83.2%, based on the condition that currently about 2,701 squaremeters of retail and temporary leasing spaces are currently still vacantand will only be tenanted in stages starting from the middle of 2007 upto 2009.Tenancy Details : As at 30 June 2007, anchor and major tenants occupied about 60.6%of the total occupied retail space. Matahari Group (Dept. Store andTimezone) is the largest tenant which constituted about 28.9% of thetotal occupied retail spaces, Hypermart is the second largest tenantby 19.7%, 21 Cineplex is the third largest tenant by 7.9%, and GunungAgung Book Store is the fourth largest tenant by 4.1%.Matahari Group Dept. Store, Timezone and Hypermart have a9.5-year lease term expiring in 31 May 2015, 21 Cineplex has a10-year lease term expiring in 31 December 2015, and GunungAgung Book Store has a 5-year lease term expiring in 23 May2011. About 81.2% of the specialty shops including food outletshave a 5-year lease term, about 14.4% have a 10-year lease term,and the remaining 4.4% have variable lease term of 1 to 4 years.The overall average base rental rate is about Rp. 141,230/squaremeter/month. The average base rental rate for the anchor tenants,Ground Floor, 1st Floor, 2nd Floor, 3rd Floor, and 3rd Floor (food court)respectively are about Rp. 45,000, Rp. 290,288, Rp. 262,956,Rp. 260,261, Rp. 213,056, Rp. 500,398/square meter/month.Continue to page 15.E-15