Page 24 - ar2012

ParkwayLife REIT Annual Report FY2012
Our Presence in Asia Pacifc Singapore
PLife REIT has a portfolio of three strategically-located
world-class private hospitals, namely Mount Elizabeth
Hospital, Gleneagles Hospital and Parkway East Hospital
valued at approximately S$980.4 million1.
Distinct features of our
Singapore Hospital Properties
Long-term Master Leases with
Parkway Hospitals Singapore Pte. Ltd.
• 15 + 15 years with effect from 23 August 2007
• cf. average lease period of three to fve years
• 100% committed occupancy
Triple Net Lease Arrangement
• Does not bear these costs: property tax, property
insurance 2, property operating expenses
• Minimal exposure to escalating operating expenses
Favourable Lease Structure
• CPI + 1% rent review formula for Singapore Hospital
Properties guarantees minimum 1% rental growth
annually (CPI deemed as zero if it is negative)
Malaysia
In August 2012, we made our frst foray into Malaysia
with the acquisition of strata-titled units/lots at Gleneagles
Intan Medical Centre, Kuala Lumpur (“GMCKL Portfolio”).3
Gleneagles Intan Medical Centre, Kuala Lumpur is
strategically located next to Gleneagles Hospital (Kuala
Lumpur) and the medical precinct is well known in Kuala
Lumpur for providing quality medical care. The GMCKL
Portfolio constitutes 23.1% of the total share value of
GMCKL. It enjoys close to full occupancy with a good
tenancy profle4. With Malaysia being one of the growth
markets identifed to enhance our portfolio diversity, we will
continue to be on the lookout for acquisition opportunities
to increase our presence there.
1. Gleneagles Intan Medical Centre, Kuala Lumpur
1 Mount Elizabeth Hospital
2 Gleneagles Hospital
3 Parkway East Hospital
1
2 3
1 Based on appraised values as at 31 December 2012.
2 Except Property Damage Insurance for Parkway East Hospital.
3 Comprising three ground foor units, three medical consulting suites on the 2nd and 7th foor,
entire 8th foor and 69 carpark lots.
4 Bulk of strata area is leased to a strong healthcare operator, Gleneagles Hospital (Kuala Lumpur) Sdn. Bhd.
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Portfolio IN FOCUS
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