Grosvenor Group Limited has expanded into Japan’s retail sector after acquiring the Namikikan Ginza building for an undisclosed fee, Mingtiandi reported on 23 November.
The 10-storey, 6,610m2 property was purchased from Imabari Shipbuilding Co., Ltd., who bought it for ¥25bn in 2015. Analysts estimate that Grosvenor will not have paid much less than that price tag.
The Namikikan Ginza area, located in central Tokyo’s upscale Ginza shopping district, is filled with shops and travel agencies.