Far East Orchard Limited aka Orchard Parade Holding

[desmondxyz]

Is this a good thing or a bad thing?

FEO never disappoint me... I'm pretty confident with the management and towkay.... To me, it is good.

If FEO to keep 6 cts div, it will need to earn at least 23.4mils each year which I think quite sustainable....

[pianist]

rivertrees already >50% committed sold..6cent div is sub sub water

[greengiraffe]

Toga Hotels changes name to Toga Far East Hotels after $450m Singapore JV
LISA ALLEN THE AUSTRALIAN MARCH 14, 2014 12:00AM

FRESH from signing a $450 million joint venture deal with its new Singapore partner, one of the country's oldest family-owned hoteliers, Toga Hotels, changed its name yesterday to TFE Hotels (Toga Far East Hotels) in a bid to promote its new co-ownership status.

Launched in 1963 by the Sydney-based Vidor family, the Toga Group had amassed 57 hotels before recently signing a 50-50 joint venture with Singapore's cashed-up Far East Hospitality Group.

Billed as the island state's largest serviced apartment owner, Far East Hospitality controls 18 hotels under brands including Quincy, Oasia, Rendevous, and Village Hotels.

Yesterday, the Australian and Asian hotel giants announced the name change in a bid to further cement the partnership.

The plan is to pick up hotel management agreements and purchase properties primarily in Australia and New Zealand, building on the more than 65 hotels covering more than 9000 rooms the joint venture already controls as an owner or operator.

Further expansion in Europe may follow given the newly merged group already operates seven hotels on the continent in Denmark, Hungary and Germany including Adina Apartment Hotels in Frankfurt.

"Partnering with Far East Orchard provides us with a strongly capitalised and highly reputable partner allowing TFE hotels (the joint venture) to confidently pursue the growth opportunities available," Allan Vidor, managing director of the Toga Group, which owns 50 per cent of TFE Hotels, said in a statement to The Australian yesterday.

TFE chief executive Rachel Argaman said the deal "has given us a strongly capitalised, highly reputable partner who allows the joint venture to confidentially pursue growth opportunities".

Ms Argaman said the new company branding would not affect any of the hotel consumer brands.

"If we buy a 3 1/2-star hotel it will be branded a TraveLodge; a four-star property would be a Vibe and a 4 1/2-star would be a Rendevous. An apartment hotel would be an Adina, whereas any serviced apartments would be run as Medina Serviced Apartments."

Ms Argaman said the group was seeing renewed strength and strong occupancies from the Australian corporate sector.

"With the falling of the Australian dollar our international forward bookings are very strong, and we are seeing a strong rebound from the European inbound market also.

"The falling Aussie dollar also means there will be fewer Australians travelling overseas and they will holiday at home."

The company is expanding the 26-room Kurrajong Hotel in Canberra to 147 rooms.

The hotel will be branded Hotel Kurrajong.

It is building a Vibe Hotel in Marysville, Victoria, and next year will open Adina Apartment Hotels in Mascot and Randwick.

It is also adding a second hotel in Frankfurt, an Adina, at the Messe Convention Centre.

TFE Hotels has three properties in Berlin, one in Hamburg as well as the properties in Frankfurt.

[greengiraffe]

http://www.ura.gov.sg/uol/media-room/new...4-22a.ashx

Property giants vie for site in Woodlands
Published on Apr 9, 2014


By Melissa Tan

A CLASH of the property titans unfolded yesterday as the sector's big guns jostled for a prime commercial site in up-and-coming Woodlands.

A consortium of Far East Organization, Far East Orchard and Sekisui House topped the eight bids with an offer of $634 million for the 99-year leasehold plot at Woodlands Square.

That price works out to about $906 per sq ft (psf) per plot ratio (ppr) for the 199,873 sq ft parcel.

A CapitaLand bid of $887 psf ppr was just 2 per cent lower while fellow property heavyweights City Developments and Hong Leong came in third with a joint offer of $770 psf ppr. Sim Lian lodged the lowest bid at $440 psf ppr.

"Bidders were probably looking for first-mover advantage in this area since the announcements of Woodlands' future plans," said CBRE research head Desmond Sim yesterday.

The site was the first to go on the market in the Woodlands Regional Centre after the Urban Redevelopment Authority unveiled its draft masterplan last year.

SLP International research head Nicholas Mak said the "successful growth story" of Tampines Regional Centre and the Jurong Lake District could have boosted developers' confidence in bidding for the parcel.

However, the offers hovered at the lower part of the expected price range. Consultants had earlier predicted that the top bid would be $850 to $1,100 psf ppr.

That likely reflected the fact that Woodlands is a "relatively untested" market for offices, said JLL Singapore research director Ong Teck Hui.

He noted that while Singapore's north has a substantial base of small- and medium-sized enterprises, with 16 per cent of the island's industrial stock, it has less than 1 per cent of the total office space.

Since rents in Woodlands are likely to lag behind those in other established suburban office markets, strata units in the development "would have to be priced realistically to be saleable", noted Mr Ong.

Mr Chng Kiong Huat, executive director of property services at Far East, said in a statement yesterday that the company intends to develop two 16-storey office towers with a mix of small and large strata units for sale and lease. This will make up 90 per cent of the development.

There will also be retail on the ground floor and the basement with direct links to the Woodlands MRT station and Causeway Point, he said.

Causeway Point, the only mall at Woodlands Square, is managed by Frasers Centrepoint Trust.

Fraser Centrepoint Limited also lodged a joint bid with Pluto I Investments for the site, in what Mr Mak said was "an attempt to maintain its market position in the Woodlands area". However, the joint bid of $550 psf ppr put it in fifth place.

The site has a maximum gross floor area of 699,556 sq ft, including subterranean space and a pedestrian link-bridge.

melissat@sph.com.sg

[greengiraffe]

http://www.todayonline.com/business/prop...ing-prices

property
Woodlands Regional Centre promising for housing prices
Woodlands Regional Centre promising for housing prices
Companies planning to have operations in the Iskandar special economic zone of Malaysia could take advantage of the improved connectivity between Woodlands and Johor, as well as between Woodlands and the city, with the development of the new Thomson MRT line and the North-South Expressway. ARTIST’S IMPRESSION: LTA
BY
CHRISTINE LI MINWEN
PUBLISHED: APRIL 18, 4:13 AM(PAGE 1 OF 1) - PAGINATE
Last week, a commercial site in Woodlands attracted strong interest from developers, including some of the biggest names in the business. Yesterday, the Government awarded the tender to a consortium of Far East Civil Engineering, Tannery Holdings and Sekisui House, which had beaten seven other bids with its offer of nearly S$634 million. That translates to about S$907 per square foot per plot ratio (psfppr), for the first commercial site put up for tender since the announcement last November of Woodlands Regional Centre as Singapore’s Northern Gateway.

The top bid was substantially higher than what the first development site at Jurong Regional Centre fetched in June 2010. The white site slated for commercial/residential/hotel use was contested by six parties then and the top bid submitted by Lend Lease was S$749 million, or S$650 psfppr. The keen interest in the latest tender is a testament to the confidence in the upcoming Woodlands Regional Centre, which is in close proximity to Malaysia’s special economic zone — the Iskandar region.

The growth momentum in Iskandar was given an extra fillip last week when the Prime Ministers of Singapore and Malaysia spoke after their annual retreat of the importance of the region and its “complementarities” with the Republic. Three possible locations for the Singapore station of the high-speed rail link to Kuala Lumpur have been identified and the Woodlands-Johor Rapid Transit System is also on track to be completed by 2018.

What does this spell for Woodlands Regional Centre? Does it have what it takes to be in the ranks of the Jurong and Tampines regional centres, which have undergone successful transformations?

Envisioned as Singapore’s Northern Gateway, Woodlands Regional Centre will incorporate retail, business, residential and lifestyle elements into its two districts — Woodlands Central and Woodlands North Coast.

Although the retail scene in Woodlands is not likely to match what Jurong can offer in the foreseeable future, the regional centre has its own unique selling points.

Firstly, Woodlands is the only regional centre with a coastal waterfront setting and residents can look forward to enjoying views of the Straits of Johor. The 2013 Draft Master Plan shows that the existing Woodlands waterfront will be expanded eastwards so that the entire stretch can be opened for public enjoyment. New residential developments will be built along the expanded waterfront park, while shipyard facilities in nearby Sembawang will also be relocated to create more space.

Secondly, job creation is likely to be at full throttle for the regional centre. Currently, Singapore’s major employment centres are located far from the north and there is high commuting traffic towards the city and the west during the peak hours.

This is set to change. The Land Use Plan unveiled last year shows that one important commercial belt called the North Coast Innovation Corridor spanning Woodlands, Sembawang, Seletar, Punggol and Sengkang West is expected to see a buzzing pool of research and development activities that could attract diverse economic clusters.

Companies planning to have operations in Iskandar could also take advantage of the improved connectivity between Woodlands and Johor, as well as between Woodlands and the city, with the development of the new Thomson MRT line and the North-South Expressway. When fully developed, Woodlands Regional Centre will provide an additional 100,000 jobs, boosting demand for housing.

IMPACT ON PROPERTY PRICES

In the past five years, the Government has launched tenders for two private and three Executive Condominium land parcels in Woodlands that can be developed into about 2,700 new homes. This is merely 2.8 per cent of the total uncompleted pipeline supply of 97,742 units. More housing supply is probably needed in Woodlands to support the growth in the jobs in the area.

At present, potential tenants looking to rent a private home do not have many choices in Woodlands. The supply of condominiums is limited, with only five projects having been completed in the area over the last decade or so. Some tenants working in the industrial parks in Woodlands have to resort to renting apartments and condominiums in Yishun and Sembawang.

Last year, the rental yields of District 25 (Woodlands) and 27 (Yishun and Sembawang) stood at 4 and 4.2 per cent, respectively, both outperforming the islandwide average of 3.8 per cent. In contrast, the prices of private homes in Woodlands have been largely underperforming those in the Outside Central Region (OCR), or suburbs, for all types of sales. The mismatch of capital value and yield could lead to appreciation in the home prices in Woodlands Regional Centre, although volatility is expected over the next four years amid the record completed units islandwide in both the private and public segments.

In addition, a possible rise in interest rates could also put a damper on price growth in the near future. Nevertheless, vibrant commercial activities and job opportunities will increase the popularity of Woodlands over the medium to long term.

Property prices in Jurong have been keeping pace with the development in the area since the unveiling of the 2008 Master Plan. Prices of non-landed private homes in Jurong have grown by 64 per cent since the first quarter of 2008, outperforming the 58.5 per cent growth in OCR homes.

Home buyers and investors need not wait too long for it to happen to Woodlands as long as Singapore continues to progress economically and stay on its decentralisation course to enable more Singaporeans to live near their workplaces.

ABOUT THE AUTHOR:

Christine Li is the head of research and consultancy at property firm OrangeTee.

[greengiraffe]

Toga Far East swoops on Arena office asset

Nick Lenaghan and Mercedes Ruehl
399 words
25 Jun 2014
The Australian Financial Review
AFNR
English
Copyright 2014. Fairfax Media Management Pty Limited.
Arena has divested two office properties – one in Sydney, one in Melbourne – from two unlisted funds as it prepares to potentially merge the two vehicles and list a new office property trust.

The tower at 280 George Street has attracted plenty of attention this year from local and offshore buyers.

Toga Far East Hotels has acquired the property for $50 million.

The price represents a 16.3 per cent premium to the $43 million valuation given to the asset six months ago.

The deal reflects a passing yield of 5.7 per cent.

Arena moved to offload the asset, effectively controlled by the $343 million Arena Office Fund, after it received a series of approaches earlier this year.

Asian investors, including Singapore-listed Hiap Hoe and real estate investment management firm Rockworth Capital Partners, were among the contenders for the George Street building.

It is expected TFE Hotels will move to redevelop the George Street property into a hotel or serviced apartments.

Family-owned hotelier Toga Hotels relaunched itself in March after establishing a joint venture with Singapore-based Far East Hospitality.

With a portfolio of 13,000 rooms in eight countries, Far East Hospitality is 70 per cent owned by Singapore's largest private property developer, Far East Organisation, and 30 per cent owned by The Straits Trading Company.

TFE Hotels will offer 65 hotels under the new name and partnership. Toga was the fifth-biggest hotel group in Australia in 2013.

Toga's managing director Allan Vidor has flagged ambitious expansion plans in Australia under the new ­partnership.

Meanwhile, Arena has offloaded a second, smaller office asset in suburban Dandenong, in Melbourne.

Held in the $218 million Arena Property Fund, 311 Lonsdale Street was sold to a private investor for $12.68 million, net of adjustments.

That price reflects a 20.8 per cent premium to the last valuation of $10.5 million, six months ago.

The transaction was handled by Dawkins Occhiuto.

Arena has been looking to create liquidity for investors in the two unlisted funds by divesting some assets and pursuing a potential float.

Under one scenario, industrial assets and non-core office properties would be divested from the Arena Property Fund before the vehicle was combined with the office fund to create a new pure-play listed office property trust.


Fairfax Media Management Pty Limited

Document AFNR000020140624ea6p0000f

[greengiraffe]

Bid to ease Sydney city’s room scarcity
LISA ALLEN AND BEN WILMOT THE AUSTRALIAN JULY 03, 2014 12:00AM

Lisa Allen

Property & Tourism Reporter
Sydney
Bid to ease Sydney’s room scarcity
An artist's impression of apartment redevelopment of City Tattersalls Club in Sydney. Source: Supplied
HOTELIERS and developers are finally responding to the Sydney CBD’s critical lack of hotels with Toga Far East, City Tattersalls Club and little-known Melbourne developer Ninety Four Feet hoping to cash in.

“Sydney needs a lot of hotel rooms and this is just the tip of what is needed,” said hotel analyst Dean Dransfield of Dransfield Hotels and Resorts.

Sydney is lagging behind Melbourne, Perth and Brisbane in new hotel supply despite the fact hundreds more rooms are now proposed.

“Sydney hotel occupancies have been running in the mid-80 per cent range for a decade and have been operating at more than 90 per cent in peak periods including Monday to Thursday and Saturday nights,” Mr Dransfield said.

“We need thousands of extra rooms in Sydney over the next decade — 70 per cent have not been the subject of a serious proposal. There is enormous capacity for new hotel rooms in Sydney and the vast majority of the ones presently mooted are not particularly large.”

In other capitals, more than 80 per cent of future hotel development activity has commenced, but in Sydney it is more like 30 per cent. Mr Dransfield puts this down to the difficulty of securing hotel sites.

However, some hoteliers are doing their bit. Toga Far East ­Hotels recently bought a $50 million office tower fronting 280 ­George Street, Sydney, for conversion into a hotel and serviced apartments.

Toga Group managing director Allan Vidor said the company was assessing plans for the site. “We are looking at the details. We will know in the next month or so,” Mr Vidor said through a spokeswoman.

Toga is in an aggressive expansion mood after a relaunch in March following the signing of a joint venture with Singapore’s Far East Hospitality. The group also looked at Sydney’s 6-10 O’Connell Street, which sold to Investa Office Fund for $135m.

And City Tattersalls Club, according to its chairman Patrick Campion, proposes to develop a 100-room hotel atop its Pitt and Market Street headquarters as part of a 48-level building, including about 34 floors of residential apartments.

City Tattersalls members will vote on the proposed airspace development in August. It has selected Mirvac Group as the preferred developer for the proposed project and plans for $178m of works have been lodged.

While there are some major hotel extensions planned, such as Michael Kum’s proposal to add another 300 rooms to the 600-room Four Points Hotel in Sussex Street, there are also a couple of new developments in the offing.

Melbourne residential developer Ninety Four Feet is proposing a 130-room hotel conversion at 302 Pitt Street, having lodged a development application a couple of months ago.

[Ray168]

Does anyone know the reason why Lucas Chow "retire" as CEO just after 2 years?


Lucas Chow, Group Chief Executive Officer of Far East Orchard, to retire. Hands baton to incoming successor, Lui Chong Chee

Singapore, 18 June 2014 – Far East Orchard Limited today announced the retirement of its Group Chief Executive Officer and Managing Director, Mr Lucas Chow, 61, with effect from 1 September 2014.

Mr Chow will be succeeded by Mr Lui Chong Chee, 54. Mr Lui will assume the appointment of Group Chief Executive Officer and Managing Director of Far East Orchard on 1 September 2014.

Mr Chow has been a Director of Far East Orchard since 1 June 2008, and was appointed Chief Executive Officer and Managing Director of the company on 15 March 2012. He was re-designated as Group Chief Executive Officer and Managing Director on 12 July 2012.

During his tenure, Mr Chow played a pivotal role in the transformative growth of Far East Orchard, seeing through various milestones to open new market platforms and transition the group into a major regional hospitality and property company.

Lucas Chow retire as CEO

(not vested)

[greengiraffe]

Toga buys Brisbane heritage for hotel
Matthew Cranston and Larry Schlesinger
334 words
15 Jul 2014
The Australian Financial Review
AFNR
English
Copyright 2014. Fairfax Media Management Pty Limited.
Toga Far East Hotels – founded by the Sydney-based Vidor family and backed by Singapore's cashed-up Far East ­Hospitality Group – is buying a grand, heritage-listed building opposite ­Brisbane's Treasury Casino.

Toga Group amassed 57 hotels before recently signing a 50-50 joint venture with Far East. The group is to purchase the building at 171 George Street from a private company based in the West Indies. The price has been ­withheld. However, the vendors paid $20.3 million for the building in 2003 and industry sources indicated the property would likely sell for between $35 million and $40 million. The ­palatial former Family Services building will be converted from offices to a hotel, with further storeys to be added.

It is understood that Ray White Transact's Rick Bird and Andrew Adnam of Ray White Commercial were involved in the deal, but neither was available for comment.

It's the second acquisition of a city office block for hotel conversion by TFE Hotels in less than a month.

In June, the group acquired a 13-level office property on the corner of George and Hunter streets in the Sydney CBD for $50 million .

The drive by TFE Hotels to expand its hotel portfolio is part of a national hotel development explosion.

JLL Hotels reported this year that the pipeline of new hotel projects was at a decade high, with more than 50 projects under construction or mooted, delivering an extra 7000 rooms and a host of new brands over the next five years.

Brisbane is leading the charge, with 14 projects (1702 rooms) under construction or proposed between now and 2016 that will dramatically increase the size of the market. Asian developers are active alongside local players such as Mantra and Alpha Hotels. Singapore's SilverNeedle Hospitality will open a 300-room NEXT Hotel this year.

Hong Kong hotel group Ovolo has signalled plans to expand into Brisbane.


Fairfax Media Management Pty Limited

Document AFNR000020140714ea7f00022

[desmondxyz]

http://infopub.sgx.com/FileOpen/FEOR_FY2...eID=336771

Seems like the 6 cts div is sustainable...3 cheers for FEO!!