Grosvenor Asia Pacific , the regional operating company of Grosvenor Group, one of the world’s largest privately-owned property groups, announced today that it has acquired Namikikan Ginza. The 775 sqm land / 6610 sqm GFA retail asset signals Grosvenor’s expansion of its investment and development portfolio in Tokyo into the retail sector, deepening its overall presence in the market, while maintaining its strength and capability in the residential sector.
Grosvenor owns a diverse portfolio of prime real estate, including retail, in leading global cities. Using the strong track record for asset management in Japan, and leveraging the skills and expertise from around the wider Grosvenor Group, Grosvenor Asia Pacific will drive value from its Namikikan Ginza asset, providing a platform for further retail development and investment acquisitions.
Daniel Cox, Managing Director and Chief Representative (Japan), commented: “As we add prime retail to our investment and development focus, deepening our presence in the market, we are very pleased to have acquired Namikikan Ginza as a significant statement of our intent.”
Daijiro Murakami, Director and Head of Investment & Asset Management, added: “Grosvenor’s strength is to understand and increase the value of properties we own and to raise each property’s value through design and tenanting in a way that benefits the overall community. We call this our Living cities philosophy. We see great potential in Namikikan Ginza for its attractive location and believe that we can use our skills to enhance its value.”
For further information, please contact:
Manager, Sales & Marketing
[English] Amanda Cheung
Director of Corporate Marketing Communications, Grosvenor Asia Pacific
+852 2501 1997
Notes to Editors
Grosvenor Asia Pacific
Grosvenor Asia Pacific is an investor, developer and asset manager, active in the region for over 20 years. We operate across the residential, office and multi-use sectors and are currently deepening our knowledge and expertise in our core cities: Hong Kong, Shanghai and Tokyo, whilst also increasing our development exposure. Ultimately, we aim to play an influential role in the positive transformation of these cities as they continue to grow. As at 31 December 2015, Grosvenor Asia Pacific had assets under management of HK$8.1bn.
For more information visit the website www.grosvenor.com @Grosvenor_Asia