CPNREIT 2022/08005
8 August 2022 | |
Re: | Notification of the Asset Appraisal Value of CPN Retail Growth Leasehold REIT |
To: | President of the Stock Exchange of Thailand |
Enclosure: | Details of the Asset |
CPN REIT Management Company Limited (the "REIT Manager") as the REIT Manager of CPN Retail Growth Leasehold REIT ("CPNREIT") would like to notify the appraisal details of the assets of CPNREIT for the second quarter of 2022 ended 30 June 2022. (Details are in the Enclosure)
Please be informed accordingly.
Your faithfully,
- Pattamika Pongsurayamas-
(Ms. Pattamika Pongsurayamas)
Chief Executive Officer
CPN REIT Management Company Limited
Enclosure 1 | ||||||
Details of Asset | ||||||
Project | ||||||
Details | ||||||
Central Rama 2 | Central Rama 3 | Central Pinklao | Pinklao Office Building | |||
Tower A & Tower B | ||||||
No. 160 Rama 2 Road, Samae | No. 79, 79/1-79/2,79/4-79/33 Sathu | No. 7/3-7/128,7/129-7/221,7/222-7/552 and 7/553, | ||||
Location | Dam Sub-district, Bang Khun | Pradit Road, Chong Nonsi Sub- | Borommaratchachonnani Road, Arun Ammarin Sub- | |||
Thian District, Bangkok | district, Yannawa District, Bangkok | district, Bangkok Noi District, Bangkok | ||||
Gross Area (SQ.M.) | 251,182 | 169,740 | 137,692 | 50,653 | ||
Leasable Area (SQ.M.) | 85,156 | 36,028 | 27,689 | 34,096 | ||
Parking Area (SQ.M.) | 98,813 | 90,186 | 66,118 | |||
Land's Leasehold Right | For 20 years, | For 30 years, | For approximately 15 years, | |||
and expires on 15 August 2025 | and expires on 15 August 2035(2) | and expires on 31 December 2024 | ||||
Building's Leasehold Right and/or | For 20 years, | For 30 years, | For approximately 15 years | |||
Building's Sub-leasehold Right | and expires on 15 August 2025(1) | and expires on 15 August 2035(2) | and expires on 31 December 2024 | |||
Date of Valuation | 30 June 2022 | 30 December 2021 | 30 December 2021 | |||
Fair value (Bt mn) | 26,350 | 12,753 | 2,625 | 579 | ||
Appraiser | Quality Appraisal Co., Ltd | |||||
Appraisal Method | Income Approach |
- The registration of the leasehold rights over the real property in the Central Rama 2 (Renewal) was completed on 31 Mar 2020 and the lease term is 30 years (until 15 Aug 2055). In this regard, CPNREIT will proceed with seeking sources of funds for rental payment in 2025.
- The right to renew the lease agreement for 2 further terms of 30 years each
Page 1
Enclosure 1 | |||||
Details | Project | ||||
Central Chiangmai Airport | Central Pattaya | Hilton Pattaya Hotel | The Ninth Towers Office Building | ||
No. 2 Mahidol Road, 252-252/1 | No.333/99 and 333/101 Moo 9 Pattaya 1 Road, | No. 33/4, Rama 9 Road, Huaykwang | |||
Location | Wualai Road, Haiya Sub-district, | Nong Prue, Bang lamung, Chonburi | Sub-District, Huaykwang District, | ||
Mueang District, Chiangmai | Bangkok | ||||
Gross Area (SQ.M.) | 122,991 | 70,095 | 49,686 | 95,997 | |
Leasable Area (SQ.M.) | 37,073 | 29,169 | 15,182 | 59,150 | |
Parking Area (SQ.M.) | 44,142 | 14,930 | 572 | 27,206 | |
Land's Leasehold Right | For 30 years, | - | - | ||
and expires on 22 April 2044 | |||||
Building's Leasehold Right and/or | For 30 years | For approximately 20 years | For approximately 27 years | ||
Building's Sub-leasehold Right | and expires on 22 April 2044 | and expires on 31 August 2037 | and expire on 18 April 2047 | ||
Date of Valuation | 30 December 2021 | 30 December 2021 | 30 December 2021 | 30 December 2021 | |
Fair value (Bt mn) | 10,435 | 7,279 | 3,668 | 5,860 | |
Appraiser | Quality Appraisal Co., Ltd | ||||
Appraisal Method | Income Approach | ||||
Page 2
Enclosure 1 | |||
Project | |||
Details | |||
Unilever House Office Building | Central Marina | Central Lampang | |
No. 161, Rama 9 Road, Huaykwang, | No. 78/54 and 78/12 Moo 9, Pattaya Sai | No. 319, Super Highway Road, Lampang-Ngao | |
Location | Sub-Distruct, Huaykwang District, | 2 Road, Nong Prue Sub-District, | Road, Suan-DokSub-District, Mueang |
Bangkok | Banglamung District, Chonburi Province | ||
Lampang District, Lampang Province | |||
Gross Area (SQ.M.) | 30,176 | 45,149 | 45,716 |
Leasable Area (SQ.M.) | 18,527 | 15,453 | 16,080 |
Parking Area (SQ.M.) | 10,035 | 15,959 | 13,993 |
Land's Leasehold Right | - | - | - |
Building's Leasehold Right and/or | For approximately 15 years | For approximately 14 years | For approximately 20 years |
Building's Sub-leasehold Right | and expire on 14 November 2034 | and expires on 30 April 2035 | and expires on 16 December 2041 |
Date of Valuation | 30 December 2021 | 30 December 2021 | 30 December 2021 |
Fair value (Bt mn) | 1,356 | 2,188 | 2,934 |
Appraiser | Quality Appraisal Co., Ltd | ||
Appraisal Method | Income Approach | ||
Page 3