September 2014 savills.com.vn
Disclaimer This document is prepared by Savills for information only. Whilst reasonable care has been exercised in preparing this document, it is subject to change and these particulars do not constitute, not constitute part of, an offer or contract ; interested parties should not rely on the statements or representations as fact but must satisfy themselves by inspection or otherwise as to the accuracy. No person in the employment of the agent or the agent s principal has any authority to make any representations or warranties whatsoever in relation to these particulars and Savills cannot be held responsible for any liability whatsoever or for any loss however arising from in reliance upon the whole or any part of the contents of this document. This publication may not be reproduced in any form or in any manner, in part or as whole without written permission of Savills. Savills (Vietnam) 2014
TABLE OF CONTENTS Executive Summary Location Accessibility The Property Facilities The Resort The Partners The Design Typical Villa Layout Show Villa Market Comparables The Proposal Contact Information
Executive Summary Rare opportunity to acquire 7 exclusive beach-front luxury villas attached to one of Asia s premier 5 star resorts with full use of its facilities in Vietnam s most famous seaside resort-town Unique location on a private beach with magnificent panorama view of Cam Ranh Bay, one of the most beautiful bays in the world Attached to one of Asia s premier 5 star resorts with full use of its facilities Fully-furnished luxury villas designed by Asia s leading architectural and interior/exterior design companies Managed by a best in class operator with attractive rental program Freehold title for each individual villa (leasehold for foreigners) Acquisition of an SPV holding all 7 villas in Singapore (or elsewhere) Offers in excess of USD10,500,000 subject to contract and exclusive of VAT A purchase at this level will attract a projected average yield over 5 years of 5-10% plus capital gains Guaranteed yield of 5% for 5 years and put option to sell back to the vendor after 5 years at a cap rate of 5% Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 4
Location A private, shimmering white sandy beach affords unbroken views of the azure ocean Situated inside the grounds of the stunning MIA Resort Nha Trang, The Residences is located on the northern part of the Cam Ranh peninsular and is conveniently between the Cam Ranh Airport and Nha Trang City. Considered as Vietnam's most famous seaside resort-town, Nha Trang attracts foreign and local tourists alike, not only for its stunning pristine beaches and renowned scuba diving centers but also for vibrant nightlife, beautiful golf courses and delicious food. Peak 83% Q1/2014 Po Nagar Cham Towers 27 C average, 300 sunny days Increasing visitors (2007 2013) Tourism revenue UP 30% (2012-2013) 5-star resort & hotel occupancy peak season Upgraded airport Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 5
Accessibility The RESIDENCES at MIA Nha Trang is set on a private bay alongside the road that loops around the coast and leads from the airport to Nha Trang City. Both the city centre and Cam Ranh International Airport are easily accessed within a 20 minute drive. By train, Nha Trang is a stop on the main railway line connecting Hanoi and Ho Chi Minh City. 1h 45min Most open tour buses arrive from Ho Chi Minh City in the south (8 hours) and Hoi An to the north (10 hours). Numerous bus routes and taxis operate along Nguyen Tat Thanh Street. In addition the MIA resort provides private shuttle bus services. 1h Domestic: 12 17 flights per day International: 14 16 flights per week directly from Russia and Korea 55min Nha Trang Stop Most open tours arrive from HCMC and Hoi An Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 6
The Property The Residences is a luxurious oasis of peace, tranquility and harmony with nature. Nested away from the bustling city centre, the Residences at MIA Nha Trang is a development of 12 exclusive luxury villas with a range of floor plan designs all with 5 bedrooms and each with approximately 1,200 sqm of land and 36 m of beach frontage. Attached to one of Asia s premier 5 star resorts with full use of its facilities this is the ultimate in privately owned luxury that is available in Vietnam today. Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 7
Facilities Live in a Resort Community As a part of Vietnam s premier 5 star resort, owners at The Residences will enjoy full use of resort facilities: Beach Sandals Pool Xanh Spa Gym Room Wi Fi Gift Shop Tour Desk Shuttle Bus Services Water Sport and Snorkelling Equipment Mojito's Restaurant and Lounge Bar Sandals Restaurant Kid s Room Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 8
The Resort Occupancy 100% 80% 60% 40% 20% 0% Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 9
The Partners Project Manager Bio Climatic, Dubai, UAE An international construction consultancy with a core services portfolio including Architecture; Urban and Master Planning; Civil, Structural, Mechanical & Electrical Engineering; Project & Construction Management, and Cost Management Established in Vietnam in August 2002 At present, more than 500 employees in 15 offices across 11 countries: Vietnam, Cambodia, Thailand, Laos, India, Mongolia, France, Qatar, Indonesia, Myanmar and Kazakhstan Real estate showcases: Mahanakhon Tower Bangkok Thailand, Lauriston Paris France, Taj Mahal Palace Mumbai India, Bio Climatic Tower Dubai UAE, Morning Glory Yangon Myanmar, Amano i Resort Vietnam, etc Ranked 62nd in the Top 100 Architectural Firms in the World Morning Glory, Yangon, Myanmar Amano i Resort, Vinh Hy, Vietnam Main Contractor Established in 1975, COFICO was originally a Construction and Installation Enterprise. At present, COFICO is one of leading construction firms in the constructions tendering, equipment installation, internal and external decoration, infrastructure development and project management Real estate showcases: New World Hotel, Caravelle Hotel, Hung Vuong Plaza, BITEXCO Office Building, Saigon Center, Saigon Pearl, CT9 Viet Hung Apartment, etc Awards: 2013: 500 Largest Vietnamese Private Enterprises 2013: ASEAN Famous Trademark Award 2012: Viet Nam Excellent Brand New World Hotel, HCMC, Vietnam Saigon Pearl, HCMC, Vietnam Sailing Club Vietnam Saigon Center, HCMC, Vietnam Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 10
The Partners Architects Wabi Umalas, Bali Based in Bali and responsible for some of South East Asia s most prestigious designs Their projects encompass resorts, hotels, condominiums, private residences and estate type communities At present, Gfab have projects in Thailand, Cambodia, Vietnam, India, Indonesia and Australia and recently Africa and Caribbean. Awards: 2008 CNBC Asia Property Awards, Best Property development (Wabi Umalas) 2012 Google Bloomberg Best architecture multiple residence (Samujana, Thailand) 2013 Google Bloomberg Best development (Aqua Samui, Thailand) Samujana, Koh Samui Aqua Samui, Thailand Aqua Samui, Thailand Recognized as one of the world s leading designers of hotel interior and exterior spaces Real estate showcases: Sunrise City, Duplex penthouse Saigon Pearl, Ocean Villas, Imperia An Phu, Show villa Tropic Garden, Riviera Cove Villas,. Awards: 2013 CNBC Asia Property Awards, Best Hotel Interior (Mia Resort) 2013 CNBC Asia Property Awards, Best Leisure Interior (Sailing Club Vietnam) Mia Resort, Nha Trang Sailing Club Vietnam Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 11
The Design The villas were conceived as an extension of the landscape; a focal point for the magnificent panorama of Cam Ranh Bay. Each villa's design has eco friendly yet practical touches promoting cool breezes throughout, passive cooling that saves energy gardens are used for roofs and stone walls are made from material excavated from the site. Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 12
The Design Living room Dining room Bedroom 2 Bedroom 3 Master bathroom Master bedroom Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 13
Typical Villa Layout Type 1A Plot area 1,228 m 2 / Built up area 476 m 2 / Garden area 752m 2 Ground floor Dining room Study room Living room Kitchen Toilet 2 Service yard Wet kitchen Maid room Owner storage Toilet 1 Swimming pool Exterior 476.00 m 2 33.60 m 2 21.50 m 2 45.20 m 2 13.60 m 2 3.93 m 2 10.60 m 2 8.40 m 2 5.00 m 2 2.80 m 2 3.10 m 2 70.50 m 2 257.77 m 2 Lower 1 Master bedroom Master toilet Bedroom 1 Toilet 4 Bedroom 2 Bedroom 3 Toilet 3 Exterior 235.00 m 2 28.20 m 2 15.10 m 2 18.30 m 2 12.50 m 2 18.30 m 2 18.30 m 2 11.00 m 2 113.30 m 2 Roof top Lower 2 Bedroom 4 Toilet 5 Exterior 60.00 m 2 17.60 m 2 11.10 m 2 31.30 m 2 Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 14
Typical Villa Layout Type 2A Plot area 1,251 m2 / Built up area 471.60 m2 / Garden area 779.40 m2 Ground floor Dining room Study room Living room Kitchen Toilet 2 Service yard 471.60 m 2 34.30 m 2 24.40 m 2 55.30 m 2 13.60 m 2 3.87 m 2 10.40 m 2 Wet kitchen Maid room Owner storage Toilet 1 Swimming pool Exterior 8.81 m 2 5.00 m 2 2.98 m 2 3.28 m 2 66.80 m 2 242.86 m 2 Roof top Lower 2 Bedroom 4 Toilet 5 Exterior 60.00 m 2 16.10 m 2 11.20 m 2 32.70 m 2 Lower 1 Master bedroom Master toilet Bedroom 1 Toilet 4 Bedroom 2 Bedroom 3 Toilet 3 Exterior 235.00 m 2 22.00 m 2 15.59 m 2 15.80 m 2 9.80 m 2 17.94 m 2 17.76 m 2 18.30 m 2 117.81 m 2 Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 15
Show Villa Ocean view View from ground floor Overview from ground floor Breakfast dining table Lounge Dining room Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 16
Show Villa Master bedroom Master en-suite Kid room Master study room Guest bedroom 2 Guest bedroom 1 Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 17
Market Comparables Hotel/Resort Location No of bedrooms Pool Kitchen Living room Dining room Media room Study Maid room Terrace 1 2 3 4 5 Mia Residence Nha Trang Nha Trang Sheraton Nha Trang Nha Trang Amiana Resort Nha Trang Nha Trang Six Senses Ninh Van Bay Nha Trang Vinpearl Luxury Nha Trang Nha Trang Sanctuary Ho Tram Vung Tau Vinpearl Luxury Da Nang Da Nang Fusion Maia Da Nang Da Nang Westlake Village Ha Noi Nikko Saigon HCMC Park Hyatt Saigon HCMC The Nam Hai Da Nang Victoria Phan Thiet Binh Thuan Sofitel Legend Metropole Ha Noi Ha Noi Daewoo Hotel Ha Noi InterContinental Danang Da Nang Amano'i-Ninh Thuan Ninh Thuan USD 10,000 Room Rates 8,000 6,000 4,000 2,000 0 Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 18
The Proposal We are instructed by our client to seek offers in excess of US$10,500,000 (ten million and five hundred thousand United States dollars), subject to contract and exclusive of VAT, for 100% interest in the SPV which holds 100% ownership of the 7 villas (*). Alternatively, the villas can be purchased onshore by local investors. A purchase at this level will attract a projected average yield over 5 years of 5-10% plus capital gains. The developer will offer a 5% guaranteed yield for 5 years and a put option to sell back to the vendor after 5 years at a cap rate of 5%. SPV (to be established) Offshore acquisition Investor Offshore Onshore 100% 7-villa portfolio Onshore acquisition Investor (*) Upon participation in the Rental Program, there will be upfront payment of the following per villa: Furniture, Furnishings and Equipment Fee (VND 540 mil / ~USD 25,500) Capital Reserve Deposit (VND 650 mil / ~USD 30,700) Management and Maintenance Deposit (VND 430 mil / ~USD 20,300) Savills Investment - September 2014 The RESIDENCES at MIA Nha Trang Page 19
Neil MacGregor FRICS, BLE (Hons) Managing Director Savills Vietnam Ltd., Co. nmacgregor@savills.com.vn +84 (0) 8 3823 9205 +84 (0) 903 71 3310 Su Ngoc Khuong Associate Director - Investment Savills Vietnam Ltd., Co. sngockhuong@savills.com.vn +84 (0) 8 3823 9205 +84 (0) 903 90 1905 Disclaimer The information provided in this memorandum has been gathered from sources that are deemed reliable, but the Owner and Savills do not warrant or represent that the information is true or correct. Images and details are for information only and may not represent the actual development. Prospective purchasers are advised to verify the information independently. The Owner and Savills reserve the right to change the price or information contained in this memorandum, or to withdraw the Property from the market at any time without notice. This memorandum is not to be construed as an offer or as any part of a contract to sell the Property. This document is prepared by Savills for information only. Whilst reasonable care has been exercised in preparing this document, it is subject to change and these particulars do not constitute, not constitute part of, an offer or contract ; interested parties should not rely on the statements or representations as fact but must satisfy themselves by inspection or otherwise as to the accuracy. No person in the employment of the agent or the agent s principal has any authority to make any representations or warranties whatsoever in relation to these particulars and Savills cannot be held responsible for any liability whatsoever or for any loss however arising from in reliance upon the whole or any part of the contents of this document. This publication may not be reproduced in any form or in any manner, in part or as whole without written permission of Savills. Savills (Vietnam) 2014