Page 54 - ar2013

52 Clarity CapitaRetail China Trust Annual Report 2013
TRADE SECTOR ANALYSIS (%)
As at 31 December 2013
Operations
Review
By Total Rental
Income1 (%)
Fashion & Accessories 28.8
Food & Beverages 20.7
Department Store 14.8
Supermarket 9.9
Beauty & Healthcare 7.2
Shoes & Bags 3.2
Education 2.7
Houseware & Furnishings 2.5
Leisure & Entertainment 1.9
Others 8.3
By GRA (%)
Fashion & Accessories 11.3
Food & Beverages 11.6
Department Store 30.1
Supermarket 28.5
Beauty & Healthcare 4.4
Shoes & Bags 1.1
Education 1.7
Houseware & Furnishings 4.3
Leisure & Entertainment 3.2
Others 3.8
committed leases with turnover
rent provisions (%)
87.0
committed leases without turnover
rent provisions (%)
13.0
committed leases with turnover rent
provisions (%)
72.4
committed leases without turnover
rent provisions (%)
27.6
% of
Commited
Leases with
Turnover Rent
Provisions
By Total Rental
Income1
% of Commited
Leases with
Turnover Rent
Provisions
By Total GRA
TURNOVER RENT
CRCT’s favourable lease structure
helps to provide Unitholders with a
stable and growing rental cash flow.
Most of the leases for the anchor,
mini-anchors and specialty tenants
have an annual step-up in the base
rent. In addition, most of the leases
also contain provisions for rent to
be payable at the then applicable
base rent or at a percentage of sales
turnover, whichever is the higher.
The combination of direct point-of-
sales systems, system link-up with
tenants’ point-of-sales and central
cashier systems at our malls allows
us to keep track of tenants’ sales.
The long-termmaster leases at
CapitaMall Anzhen, CapitaMall Erqi
and CapitaMall Shuangjing contain
provisions for upside in rental revenues
through step-ups in the base rent.
In addition, the master leases at
CapitaMall Anzhen and CapitaMall
Erqi provide further potential upside
through a percentage of tenants’ sales
turnover if the turnover exceeds an
agreed threshold.
1 CapitaMall Minzhongleyuan is excluded as it is undergoing asset enhancement works.