C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
/ 1 1 3
(36)
CIT holds the remainder of a 30+30 year lease commencing from 1 March 1995.
(37)
CIT holds the remainder of a 30+30 year lease commencing from 1 February 1993.
(38)
CIT holds the remainder of a 30+30 year lease commencing from 16 November 1996.
(39)
CIT holds the remainder of a 30 year lease commencing from 16 September 2005.
(40)
CIT holds the remainder of a 30+19 year lease commencing from 1 September 1993.
(41)
CIT holds the remainder of a 30+30 year lease commencing from 1 September 1995.
(42)
CIT holds the remainder of a 60 year lease commencing from 4 January 1999.
(43)
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.
(44)
CIT holds the remainder of a 30 year lease commencing from 16 March 2005.
(45)
CIT holds the remainder of a 29.5 year lease commencing from 1 April 2008.
(46)
CIT holds the remainder of a 30+30 year lease commencing from 16 October 1995.
(47)
CIT holds the remainder of a 30+28 year lease commencing from 1 February 2009.
(48)
CIT holds the remainder of a 30 year lease commencing from 1 February 2008.
(49)
CIT holds the remainder of a 30+30 year lease commencing from 1 December 1989.
(50)
CIT holds the remainder of a 30+30 year lease commencing from 16 October 1995.
(51)
CIT holds the remainder of a 28 year lease commencing from 25 March 2007.
(52)
CIT holds the remainder of a 30+30 year lease commencing from 16 December 1994.
(53)
The subsidiary holds the remainder of a 30+30 year lease commencing from 1 May 1999.
(54)
CIT holds the remainder of a 27 year lease commencing from 30 September 2013.
(55)
CIT holds the remainder of a 10+22 year lease commencing from 1 June 2007.
(56)
CIT holds the remainder of a 30+30 year lease commencing from 1 August 1996.
#
Properties pledged as security to secure the Term Loan Facility of $100 million (see Note 9).
+
The property was acquired during the financial year.
** The property at 3 Tuas South Avenue 4 was consolidated when Cambridge SPV1 LLP became a subsidiary of the Group on 20 March 2015.
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 twenty eight years
for single tenancy and seven 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 $246.4 million (2014: $939.4 million) have been
mortgaged as security for loan facilities granted to the Group (see Note 4 and Note 9).
The accompanying notes form an integral part of these financial statements.
INVESTMENT PROPERTIES PORTFOLIO STATEMENT
AS AT 31 DECEMBER 2015
