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CRCT's portfolio of eight retail mall properties is strategically located within large population catchment areas in five cities across China. The quality geographically diversified portfolio is anchored by major international and domestic retailers such as Wal-Mart, Carrefour and the Beijing Hualian Group under master leases or long-term leases, which provide Unitholders with stable and sustainable returns. The anchor tenants are complemented by popular specialty brands such as Vero Moda, Esprit, Watsons, KFC, Pizza Hut, BreadTalk, etc.
The multi-sourced portfolio which comprises greenfield developments, acquisitions from third party and retail operators who are the strategic partners of CapitaLand and a master-leased asset from the landowner, demonstrates the capability of our comprehensive retail real estate business platform which provides access to the full spectrum of retail opportunities in various tiered cities across China.
Property
Address |
Xizhimen Mall
No. 1 Xizhimenwai Avenue, Xicheng District, Beijing
北京市西城区西直门外大街1号 |
Wangjing Mall
No. 33 Guangshun North
Street, Blk 213 & 215,
Changyang District, Beijing
北京市朝阳区广顺北大街33号院
213,215号 |
Jiulong Mall
No. 31 Guangqu Road,
Chaoyang District, Beijing
北京市朝阳区广渠路31号 |
Anzhen Mall
Section 5 No. 4 of Anzhen
Xi Li, Chaoyang District,
Beijing
北京市朝阳区安贞西里五区
4号楼 |
GFA (sq m)
(as at 31 December 2008) |
83,0741 |
82,634 |
49,526 |
43,442 |
GRA (sq m)
(as at 31 December 2008) |
83,0741 |
67,500 |
49,526 |
43,442 |
Number of Leases
(as at 31 December 2008) |
190 |
181 |
6 |
1 |
| Land Use Right Expiry |
23 August 2044
23 August 2054 |
15 May 2043
15 May 2053 |
10 July 2042 |
7 October 2034
5 March 2042
3 June 2042
|
Market Valuation3
(as at 1 December 2008)
(RMB Million) |
1,8981 |
1,220 |
450 |
826 |
Purchase Price
(RMB Million) |
1,7001 |
1,102.04 |
414.04 |
772.04 |
| Acquisition Date5 |
Phase 1 - 5
February
2008 |
1 December 20066 |
1 December 2006 |
8 November 2006 |
Committed Occupancy Rate
(as at 31 December 2008) |
96.7% |
99.8% |
100% |
100% |
Shopper Traffic for 20088
(Million) |
12.1 |
7.6 |
- |
- |
| Major Tenants |
Colour Jeans
Sport 100
Beijing Hualian Supermarket
AiKu
Sephora |
Beijing Hualian Group
Sport 100
PartyLand KTV
IT
Xihu Spring Restaurant |
Carrefour
B&Q |
Beijing Hualian Group |
Gross Revenue for 2008
(Million) |
138.79 |
130.9 |
40.0 |
76.9 |
NPI for 2008
(Million) |
91.49 |
88.0 |
32.0 |
63.0 |
Property
Address |
Qibao Mall
No. 3655 Qi Xin Road,
Minhang District, Shanghai
上海市闵行区七莘路3655号 |
Zhengzhou Mall
No. 3 Minzhu Road,
Erqi District, Zhengzhou,
Henan Province
河南省郑州市二七区民主路3号 |
Saihan Mall
No. 32 Ordos Street,
Saihan District,
Huhhot, Inner Mongolia
Autonomous Region
内蒙古自治区呼和浩特市赛罕区
鄂尔多斯大街32号 |
Xinwu Mall
No. 79 Zhongshan
North Road, Xinwu District,
Wuhu, Anhui Province
安徽省芜湖市新芜区中山北路
79号 |
GFA (sq m)
(as at 31 December 2008) |
83,986 |
92,356 |
41,938 |
59,624 |
GRA (sq m)
(as at 31 December 2008) |
72,729 |
92,356 |
41,938 |
45,634 |
Number of Leases
(as at 31 December 2008) |
132 |
1 |
109 |
120 |
| Land Use Right Expiry |
10 March 20432
|
31 May 2042 |
11 March 2041
20 March 2041 |
29 May 2044 |
Market Valuation3
(as at 1 December 2008)
(RMB Million) |
332 |
517 |
299 |
131 |
Purchase Price
(RMB Million) |
264.04 |
454.04 |
315.04 |
130.04 |
| Acquisition Date5 |
8 November 2006 |
1 December 2006 |
1 December 2006 |
8 November 2006 |
Committed
Occupancy Rate
(as at 31 December 2008) |
91.6% |
100% |
99.3%7 |
93.3% |
Shopper Traffic for 20088
(RMB Million) |
9.3 |
- |
- |
10.6 |
| Major Tenants |
Gome
Carrefour
Sport 100
Powerhouse Gym
Giordano/Giordano Junior |
Beijing Hualian Group |
Beijing Hualian Supermarket
KFC
马克华菲
天力游戏厅
好来宝 |
Wal-Mart
Tango KTV
KFC
来来永和豆浆
蓝波湾国际撞球会所 |
Gross Revenue for 2008
(RMB Million) |
62.7 |
47.5 |
21.2 |
19.7 |
NPI for 2008
(RMB Million) |
16.2 |
38.8 |
9.1 |
4.6 |
Notes:
| (1) |
Includes Xizhimen Mall Phase 2 which CRCT exercised its right to purchase on 29 September 2008. |
| (2) |
Qibao Mall is indirectly held by CRCT under a master lease with Shanghai Jin Qiu (Group) Co., Ltd, the legal owner of Qibao Mall. The master lease expires in January 2024,
with the right to renew for a further term of 19 years and two months. Accordingly, the land use right is owned by the legal owner. |
| (3) |
Independent valuations of Wangjing Mall, Jiulong Mall, Anzhen Mall, Qibao Mall, Zhengzhou Mall, Saihan Mall and Xinwu Mall were undertaken by Knight Frank and
independent valuation of Xizhimen Mall was undertaken by CB Richard Ellis. |
| (4) |
Based on independent valuation report by CB Richard Ellis dated 30 September 2006. The valuation was determined using the capitalisation approach, discounted cash
flow analysis and direct comparison. |
| (5) |
Refers to the completion of the acquisition of the special purpose vehicles which own the properties. |
| (6) |
During the year, CRCT obtained ownership of Wangjing Mall after the legal title of Wangjing Mall was issued to CapitaRetail Beijing Wangjing Real Estate Co. Ltd., a CRCT
wholly-owned special purpose company which holds Wangjing Mall. Prior to that, CRCT only had contractual rights to the rental income in respect of Wangjing Mall as
described in the CRCT Prospectus. |
| (7) |
Based on area ready for occupation at Saihan Mall Phase 1. |
| (8) |
Jiulong Mall, Anzhen Mall and Zhengzhou Mall do not have traffic counters. Saihan Mall underwent extensive asset enhancement works between September 2007 and
September 2008. |
| (9) |
For the period from 5 February 2008 to 31 December 2008. |
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