Tokyu
Plaza
Ginza
Completed
in
2016,
Tokyu
Plaza
Ginza
has
a
gross
floor
area
of
15,153
tsubo
(50,093
sqm).
It
has
direct
access
to
Ginza
Station
and
is
a
short
walk
from
JR
Yurakucho
Station.
The
mall
is
surrounded
by
flagship
stores
of
luxury
brands,
renowned
department
stores
and
upscale
hotels,
in
the
heart
of
one
of
Tokyo’s
most
prestigious
shopping
districts.
The
asset
is
one
of
the
largest
and
rarest
retail
facilities
in
Ginza,
occupying
a
high-street
footprint
of
over
1,139
tsubo
and
spanning
an
entire
block
with
four-sided
frontage.
Its
unparalleled
location
offers
exceptional
accessibility
and
prestige.
Tokyo retail sales volume continued to outperform, fueled by robust spending on luxury goods by increasing number of tourists and the yen depreciation. Furthermore, domestic consumption in Japan benefits from the positive wage growth outlook. With the government’s planned revitalization of the adjacent Tokyo Expressway (KK Line) into a green pedestrian walk, known as the Tokyo Sky Corridor (High Line) that is set to partially open in 2029, it is expected to further enhance the potential value of Tokyu Plaza Ginza.
Isabella Lo, Managing Director, Principal – Investments and Head of Japan at Gaw Capital, commented, “We are thrilled to acquire this iconic retail asset in Ginza, Tokyo. Our partnership with Patience Capital Group brings together synergies that will maximize the value of this iconic asset. By combining Patience Capital Group’s ability to source unique opportunities and Gaw Capital’s extensive retail experience, we are confident in our ability to reposition the mall as a premier retail destination. With favorable macroeconomic fundamentals supporting Japan’s retail sector, this is a highly opportune time to invest.”
Alvin Lo, Managing Director, Principal – Asset Management at Gaw Capital, added, “Leveraging the firm’s extensive expertise in retail value-add strategies, Gaw Capital is excited to lead the asset management strategy and leasing of the asset. The business plan involves transforming the mall into a vibrant, brand-new retail destination with a refreshed tenant mix and a coherent concept.”
Ken Chan, Founder and CEO, Patience Capital Group said, “We are excited about our partnership with Gaw Capital. PCG’s extensive relationships in Japan gives us unique access to off-market opportunities. These deep connections were key in helping us source and put together this deal. With the Japanese retail sector’s resilient demand, Gaw Capital’s retail experience and PCGs track record of working with brands to craft the ideal tenant mix, we look forward to leveraging our combined strengths to unlock the potential of this exceptional asset.”
Hashtag: #GawCapitalPartners
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