Record Prices For Grosvenor Asia Pacific In Tokyo

Announcing their 2014 results Grosvenor the privately owned property group has reported a strong performance in their Asia Pacific unit with most activity coming out of the buoyant Japanese residential property market.

Grosvenor Asia Pacific achieved record sales prices for a residential refurbishment project in Tokyo at The Westminster Roppongi.  It also formed its newest development partnership vehicle in Asia and committed to the partnership’s first acquisition of Forest Nanpeidai in Tokyo.

The Westminster Roppongi is a 99-unit apartment building located next to Roppongi Hills, Tokyo. The area combines the dynamic atmosphere of Roppongi and its high-end retail and restaurants with the tranquility of Motoazabu, a district famous for its luxury housing.

In Hong Kong the company commenced foundation work at the site of Monterey Court. Monterey Court is a luxury project located in Jardines Lookout which is due to be completed in 2017. It is Grosvenor's third luxury residential development project in Hong Kong in collaboration with Asia Standard and PDP, following award-winning properties Grosvenor Place Repulse Bay, completed in 2004, and The Westminster Terrace, completed in 2010.

Overall for the group total returns were up to 9.1% (2013: 5.4%) although assets under management decreased to HK$8.3bn (2013: HK$8.9bn) due to some strategic project disposals.

Earlier this year Grosvenor Asia Pacific secured Benjamin Cha as successor to Chief Executive Nick Loup. Cha came from UBS Global Asset Management where he was managing director, Head of Global Real Estate Greater China.

WEB'S BEST

Top stories from across the globe

  • Singapore Stresses Under a Wealth of Worries
  • A Short History of Investing in Gold – and What to Expect for 2017
  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
More

PHOTO GALLERIES

finews.asia Networking Event

finews.asia Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.