Hotel Grand Central

[kbl]

Good Thurs Evening Everyone.

Proposed Purchase of The PWC Centre, 60 & 38 Cashel Street, Christchurch, New Zealand

HGC through its wholly owned subsidiary, Grand Central (NZ) Limited (the “Purchaser”) had entered into a conditional sale and purchase agreement (‘Agreement”) on 10 May 2017 with a third party to acquire the PWC Centre at 60 & 38 Cashel Street, Christchurch, New Zealand (“PWC Centre”) for NZ$ 49.0 million.

The property is a 6 levels commercial office building with lettable area of 7,917
square metres with 103 carpark spaces. Completed in December 2016, the building
is currently let out with a net rental of NZ$3,345,782 per annum.

EPS after proposed acquisition 8.36c

http://infopub.sgx.com/FileOpen/HGC_PWCC...eID=457147

Scrip div issue price-
The Directors of the Company wish to inform that the issue price of the New Share to be issued in lieu of the cash amount of the Dividends for the year ended 31 December 2016 is S$1.2435 for each New Share.

http://infopub.sgx.com/FileOpen/HGC_Ann%...eID=457143

<Vested><Not a call to Buy or Sell>

[cyclone]

3,345,782 / 49 million = 6.83%

Hotel Grand Central through its wholly owned subsidiary, Grand Central (NZ) Limited had entered into a conditional sale and purchase agreement on 10 May 2017 with a third party to acquire the PWC Centre at 60 & 38 Cashel Street, Christchurch, New Zealand (“PWC Centre”) for NZ$ 49.0 million.

The PWC Centre is situated on land with a total land area of 3,749 square metres as follows:
• Freehold title Lot 1 Deposited Plan 52804 of 639 sqm
• Freehold title Lot 2 Deposited Plan 73381 of 1,280 sqm
• Freehold title Lot 1 Deposited Plan 49515 of 819 sqm
• Section 491, Town of Christchurch of 1,011 sqm

The property is a 6 levels commercial office building with lettable area of 7,917 square metres with 103 carpark spaces. Completed in December 2016, the building is currently let out with a net rental of NZ$3,345,782 per annum.

The Agreement became unconditional on 8 June 2017. As set out in the Agreement, a deposit of NZ$4,900,000 shall be paid to a stakeholder after the Agreement became unconditional on 8 June 2017. The balance purchase price of NZ$44,100,000 would be payable on 30 working days after the unconditional date of 8 June 2017. 

More details in http://infopub.sgx.com/FileOpen/HGC_PWCC...eID=457147

[soros]

Wow- its a new building and getting 6.8% yield

[portuser]

Hotel Grand Central's three investment properties (two in Wellington and one in Melbourne) provided a combined net rental yield of 6.5% in 2016:


....................................$m
Rentals.......................9.54
Expenses...................1.75
Net rentals.................7.79
Value (year-end)....120.78

Net yield....................6.5%

The net yield is similar to the 6.8% from the newly-acquired PWC Centre in Christchurch.

In 1Q 17, the newly-completed $88m Grand Central Building in Christchurch started receiving tenants, collecting $ 1.14m in rentals.

Grand Central Building has 12,594 sq m of office space in five levels and 1,438 sq m of retail space on the ground floor. It was to replace the old hotel damaged by earthquake.

New structures in Christchurch are built to withstand strong tremors. A good part of the construction cost of Grand central Building came from additional insurance payout for income losses in three years.    

The building was barely occupied in 1Q 17, based on the article dated 17 Jan 2017 surfaced by KBL: 

"The Immigration Department would be the first tenant, to be followed, within weeks, by the Ministry of Social Development and Department of Conservation, then joined by private office tenants, fashion stores, and a cafe; and 

A yet-identified international-brand fashion store will open on the ground floor about March. Negotiations are underway with other fashion-type tenants and a cafe to fill the other shops, and with professional firms for the remaining two office floors."

With higher occupancy, annual rentals from Grand Central Building will be substantially higher $4.56m, being four times 1Q rental of $1.14m.

[Scg8866t]

http://www.businesstimes.com.sg/governme...xtor=CS1-3

State of emergency at christchurch.

Hotel grands recently acquired pwc building and their hotel grand chancellor christchurch are both situated there Not sure of the impact.

[opmi]

those who been to NZ, will see the buildings are quite old there...80s look...
Probably risk of earthquake is very real there....

[Scg8866t]

Cashel street is 11mins drive to heathcote river. Hope its a flash flood and no dmg done to HGC assets..

[kbl]

Good afternoon everyone.

Hotel Chancellor @ Orchard looking for buyer(from S$400,000,000.00 to S$360,000,000.00) - 488 x $900k = S$360,000,000.00

http://infopub.sgx.com/FileOpen/HGC%20-%...eID=391790

Today BT -
S'pore's hotel market draws investors
Potential buyers are scouting for properties amid an anticipated rise in visitor arrivals; pipeline of hotel rooms to narrow after this year

http://www.businesstimes.com.sg/real-est...-investors

**In Cavenagh Road, JLL is handling the sale of Hotel Chancellor@Orchard, which is being marketed at S$900,000 per key. The property, which has 60 years left on its site, opened barely three years ago and is owned by the listed Hotel Grand Central. It is being offered for sale with vacant possession of brand and management. This means the buyer can rebrand and reposition the asset.**

<Vested><Not a call to Buy or Sell>

[Scg8866t]

Good afternoon everyone.

Hotel Chancellor @ Orchard looking for buyer(from S$400,000,000.00 to S$360,000,000.00) - 488 x $900k = S$360,000,000.00

http://infopub.sgx.com/FileOpen/HGC%20-%...eID=391790

Today BT -
S'pore's hotel market draws investors
Potential buyers are scouting for properties amid an anticipated rise in visitor arrivals; pipeline of hotel rooms to narrow after this year

http://www.businesstimes.com.sg/real-est...-investors

**In Cavenagh Road, JLL is handling the sale of Hotel Chancellor@Orchard, which is being marketed at S$900,000 per key. The property, which has 60 years left on its site, opened barely three years ago and is owned by the listed Hotel Grand Central. It is being offered for sale with vacant possession of brand and management. This means the buyer can rebrand and reposition the asset.**

<Vested><Not a call to Buy or Sell>

Amazing, i rem the cost per room there is ard 170k?(not sure need to dig more). So assuming that is correct and if the sale pulls through that will be ard 51 cts per share?

[kbl]

Good afternoon everyone.

Hotel Chancellor @ Orchard looking for buyer(from S$400,000,000.00 to S$360,000,000.00) - 488 x $900k = S$360,000,000.00

http://infopub.sgx.com/FileOpen/HGC%20-%...eID=391790

Today BT -
S'pore's hotel market draws investors
Potential buyers are scouting for properties amid an anticipated rise in visitor arrivals; pipeline of hotel rooms to narrow after this year

http://www.businesstimes.com.sg/real-est...-investors

**In Cavenagh Road, JLL is handling the sale of Hotel Chancellor@Orchard, which is being marketed at S$900,000 per key. The property, which has 60 years left on its site, opened barely three years ago and is owned by the listed Hotel Grand Central. It is being offered for sale with vacant possession of brand and management. This means the buyer can rebrand and reposition the asset.**

<Vested><Not a call to Buy or Sell>

Amazing, i rem the cost per room there is ard 170k?(not sure need to dig more). So assuming that is correct and if the sale pulls through that will be ard 51 cts per share?

hello Scg8866 san.

here sir.

By Portuser san on 14th July 2012

https://www.valuebuddies.com/thread-1824-page-3.html