Mallage Shobu is a suburban shopping centre developed and managed by Sojitz Commerce Development Corporation (“Sojitz”). Sojitz previously developed and currently manages two other suburban shopping centres located in Saga and Chiba prefectures.
Mallage Shobu is the most recently completed facility under the Mallage branding. It comprises a large scale shopping mall with more than 200 retail tenants across a net lease area of around 68,000 sq m. Opened in November 2008, Mallage Shobu is the second largest retail facility in Saitama Prefecture, superseded only by Aeon Laketown, which is the largest shopping centre in Japan. At the end of June 2015, Mallage Shobu completed its tenant renewal exercise, which was conducted in conjunction with the asset enhancement initiative to renew the mall’s facilities.
The facility accommodates a wide variety of tenants, including a supermarket, a DIY store, electronics retailers and a cinema operator.
|Net Lettable Area||68,075 sq m|
|Valuation As at 30 June 2016||JPY26,400 million|
|FY2016 Actual Net Property Income (NPI) From 1 July 2015 to 30 June 2016||JPY1,488.2 million|
|NPI Yield (Based on Actual NPI divided by the purchase price)||7.2%|
|Occupancy Rate As at 30 June 2016||98.9%|
|Weighted Average Lease Expiry As at 30 June 2016||5.6 years|
|Key Tenants||Nafco, 109 Cinemas, Himaraya, York Mart, Nojima, Academia, Sanki, Play Land, Uniqlo, Muji, Toys 'R' Us|