(41)
CIT holds the remainder of a 30+19 year lease commencing from 1 September 1993.
(42)
CIT holds the remainder of a 30+30 year lease commencing from 1 September 1995.
(43)
CIT holds the remainder of a 60 year lease commencing from 4 January 1999.
(44)
CIT holds the remainder of a 29+30 year lease commencing from 1 June 1995 for 511 Yishun and 30+30 lease commencing from 1 December 1993
for 513 Yishun.
(45)
CIT holds the remainder of a 30 year lease commencing from 16 March 2005.
(46)
CIT holds the remainder of a 29.5 year lease commencing from 1 April 2008.
(47)
CIT holds the remainder of a 30+30 year lease commencing from 16 October 1995.
(48)
CIT holds the remainder of a 30+28 year lease commencing from 1 February 2009.
(49)
CIT holds the remainder of a 30 year lease commencing from 1 February 2008.
(50)
CIT holds the remainder of a 30+30 year lease commencing from 1 December 1989.
(51)
CIT holds the remainder of a 30+30 year lease commencing from 16 October 1995.
(52)
CIT holds the remainder of a 28 year lease commencing from 25 March 2007.
(53)
CIT holds the remainder of a 30+30 year lease commencing from 16 December 1994.
(54)
CIT holds the remainder of a 32 year lease commencing from 1 June 2007.
(55)
CIT holds the remainder of a 30+30 year lease commencing from 1 August 1996.
@
Properties pledged as security to secure the Club Loan Facility of $250 million (see Note 10).
#
Properties pledged as security to secure the Term Loan Facility of $100 million (see Note 10).
^
Properties pledged as security to secure the Revolving Credit Facility of $40 million (see Note 10).
+
Property was disposed of during the financial year.
^^
The 30 years option term has been transferred to 43 Tuas View Circuit.
++
The 30 years lease term from 1 February 2008 has been granted by JTC by way of transfer from 60 Tuas South Street 1 due to the change in tenancy.
Investment properties comprise a diverse portfolio of industrial properties that are leased to external tenants. All of the
leases are structured under single-tenancy or multiple-tenancy and the tenancies range from two to eight years for
single tenancy and eight months to ten years for multiple-tenancy.
In determining the fair value, the valuers have used valuation methods which involve certain estimates. The Manager
has exercised its judgment and is satisfied that the valuation methods and estimates are reflective of the current market
conditions.
The independent professional valuers have considered valuation techniques including direct comparison method,
capitalisation approach and/or discounted cash flow analysis in arriving at the open market value as at the reporting
date. The key assumptions used to determine the fair value of investment properties include market-corroborated
capitalisation yield, terminal yield, discount rate and average growth rate.
As at the reporting date, investment properties with a carrying value of $939.4 million (2013: $784.8 million) have been
mortgaged as security for loan facilities granted to the Group (see Note 10).
INVESTMENT PROPERTIES PORTFOLIO STATEMENT
AS AT 31 DECEMBER 2014
The accompanying notes form an integral part of these financial statements.
CAMBRIDGE INDUSTRIAL TRUST | A WINNING FORMULA
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