SINGAPORE - Upmarket Singapore-based property group SC Global Developments has acquired a 12-storey prime commercial development in Tokyo's Ginza district.
GINZA 12, completed recently, is a 7,785 sq ft property located a stone's throw from the Higashi Ginza Metro Station at the intersection of two major streets, Showa Dori and Harumi Dori.
The acquisition presents a rare opportunity for the group to secure a premium asset in one of Japan's most sought after locations, SC Global said on Monday (Dec 11). It declined to reveal the price of the acquisition.
GINZA 12 has 13 levels (including one in the basement).
There are 13 leasable units, one per floor; 10 units have been leased to a variety of speciality food and beverage operators serving yakitori, organic, steak, sushi and Italian cuisine.
"The Ginza development is set to become a foodie's paradise with leases already secured with two renowned and respected Michelin-star restaurant operators," SC Global said.
These include Kenji Takahashi, the up-and-coming owner-chef of Yoshifuku in Tokyo, which received its first Michelin star this year for its delectable Kyoto cuisine.
Another tenant signed is the team behind the exclusive sushi restaurant Kamakura Izumi in Kanagawa prefecture, which was awarded its first Michelin star in 2013.
"The acquisition enables the group to diversify into a new geographical location and participate in the growing tourism market in Japan. SC Global plans to continue a strategy of geographical diversification with acquisition of prime real estate in destinations within the region," the group said.
SC Global Developments chairman and CEO Simon Cheong noted that the acquisition marked a new chapter in the group's geographical diversification.
"Ginza is a fascinating place and we are overjoyed to have some exceptional Michelin-star restaurant operators on board, as we unveil our first property in one of the most luxurious shopping districts in the world," he said.