52 / 152
DAIKANYAMA
EBISU FORT NAKAMEGURO
PLACE
Starhill Global REIT’s Japan portfolio consists
of three contemporary commercial buildings
located within walking distance from major
subway stations in prime Tokyo areas.
As at 30 June 2017, Starhill Global
REIT’s Japan portfolio consists of
three contemporary commercial
buildings located in the heart of
prime Tokyo in areas of Ebisu and
Meguro, and within walking distance
from major subway stations. The
portfolio was refined in May 2017
with the divestment of Harajuku
Secondo at a sale consideration of
JPY410.2 million (or approximately
S$5.1 million), representing a 22.4%
premium to its latest valuation.
These three properties appeal to
young and stylish urbanites. As at
30 June 2017, the Japan Properties
are all fully occupied.
Having weighed the costs and
benefits of earthquake insurance
for the Japanese assets, the
claimable sum and that their
contribution to Starhill Global REIT’s
portfolio is approximately 1.9% by
asset value as at 30 June 2017, no
specific earthquake insurance has
been taken up, which is consistent
with the industry practice in Japan.
TENURE
FREEHOLD
(AS AT 30 JUN 2017)
TENANTS
15
NET LETTABLE AREA
30,429
SQ FT
PURCHASE PRICE
M
(1)
S$
101.2
(AS AT 30 JUN 2017)
MARKET VALUATION
M
S$
59.6
Note:
(1)
Excludes Harajuku
Secondo which was
divested to Tosei K.K.
in
May 2017 for JPY410.2 million,
above the latest valuation
done as at 31 March 2017. The
open market value was derived
using the discounted cash flow
and income capitalisation methods.
OCCUPANCYRATE
100.0
%
30 JUN 2017
30 JUN 2016
100.0
%
JAPAN
PROPERTIES
RETAIL TRADEMIX
BY GROSS RENTAL CONTRIBUTION
(AS AT 30 JUN 2017)
4.4
%
HEALTH &
BEAUTY
5.4
%
F&B
6.9
%
GENERAL
TRADE
35.3
%
SERVICES
48.0
%
OTHERS
50
STARHILL GLOBAL REIT ANNUAL REPORT FY 2016/17