Accordia Golf Trust ("AGT") is the first business trust comprising investments in golf course assets in Japan, and is listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST"). AGT is primarily involved in the principal investment strategy of investing, directly or indirectly, in the business of owning a portfolio of stabilised, income-generating golf courses, driving ranges and golf course related assets worldwide, with an initial focus in Japan.
AGT made its' debut on the Main Board of the SGX-ST on 1 August 2014 and its initial portfolio comprises 89 golf courses (including golf course related assets relating to such golf course) located across Japan ("Initial Portfolio"). Approximately 70% of the Initial Portfolio are located in the three largest metropolitan areas in Japan, namely, the Greater Tokyo Region, the Greater Nagoya Region and the Greater Osaka Region. The total appraisal value of AGT's golf courses stood at JPY 150.89(1) billion as at 31 December 2016.
AGT's objective is to generate long-term, stable cash flow through investing in the following key areas:
- Golf courses;
- Driving ranges;
- Golf course related assets
while continuing to pay distributions to unitholders of AGT ("Unitholders") and maximising long-term investment returns of Unitholders by generating long-term capital value growth.
(1) Based on real estate appraisals by CBRE K.K. and Tanizawa Sogo Appraisal Co., Ltd. (collectively, the "Independent Real Estate Appraisers")