Feeeal Asahikawa is a large scale shopping centre with office space located in Asahikawa City, the second largest city in Hokkaido, Japan. Feeeal Asahikawa is widely recognised by the local community as the leading fashion shopping centre with a wide range of fashion goods for shoppers of all ages.
The property has a NLA of 20,276 sq m with 50 retail tenants comprising a mix of food and groceries, fashion and accessories, education services and financial/insurance sectors, and two office tenants. The top four floors are mainly occupied by the Asahikawa City government, which operates an indoor children’s playground, administrative office and community centre, as well as Bell System 24, which operates a call centre.
The property is well within walking distance from JR Asahikawa Station on the JR Hakodate Honsen Line and is situated along the Heiwa-dori Kaimono Koen Shopping Street of Asahikawa City, which is a major commercial and shopping area in the city. The property enjoys significant street frontage with high visibility and is considered an established shopping destination for residents of Asahikawa City and its neighbouring areas.
|Net Lettable Area||20,427 sq m|
|Valuation As at 30 June 2016||JPY2,500 million|
|FY2016 Actual Net Property Income (NPI) From 27 May 2016 to 30 June 2016||JPY10.1 million1|
|Annualised NPI Yield (Based on annualising the Actual NPI divided by the purchase price)||4.2%|
|Occupancy Rate As at 30 June 2016||93.5%|
|Weighted Average Lease Expiry As at 30 June 2016||3.1 years|
|Key Tenants||Junkudo, Asahikawa City, Bell System 24, United Arrows|
1 The acquisition of Feeeal Asahikawa was completed on 27 May 2016.