Notes to the financial statements
Year ended 31 March 2016
22 Property operating expenses
Group
2016
2015
$’000
$’000
Land rent
31,587
30,026
Maintenance and conservancy fees
30,706
26,435
Property service fees
30,316
25,875
Property tax
59,058
55,670
Utilities
49,357
50,037
Depreciation of plant and equipment
152
151
Other operating expenses
26,111
22,566
227,287
210,760
23 Management feeS
Management fees comprise base management fee of $42,999,000 (2015: $38,137,000) and performance fee of
$17,436,000 (2015: $Nil). Included in management fees is an aggregate of 3,621,140 (2015: 3,183,590) units amounting
to approximately $8,600,000 (2015: $7,627,000) that were issued or will be issued to the Manager as satisfaction of the
management fee payable in units at unit prices ranging from $2.3107 to $2.4331 (2015: $2.3229 to $2.5433) per unit.
24 Trust expenses
Group
2016
2015
$’000
$’000
Auditors’ remuneration
– audit fees
430
362
– non-audit fees
151
125
Professional fees
2,369
1,325
Trustee fee
2,834
2,323
Other expenses
1,209
1,494
6,993
5,629
Other expenses for the Group include depreciation of plant and equipment of $35,000 (2015: $216,000).
.191
A-REIT ANNUAL REPORT
2015/2016
