Savills IM Asia fund invests in Japan and Western Australia

Savills Investment Management has completed a series of one-off acquisitions for its flagship pan-Asian fund, acquiring office and residential assets in Japan and a neighbourhood shopping centre in Australia.

In Japan, Savills IM has acquired a 5,500 sq m multi let office in Greater Tokyo, close to Yokohama Station, a major interchange railway station with over 2 million daily passengers and serving 11 train/metro lines.

The firm has also aggregated a 13-asset portfolio, comprising seven multifamily buildings and six master-leased dormitories. The portfolio comprises two investments that were completed with separate vendors.

The assets have a combined 576 rentable units and lettable area of approximately 25,000 sq m and are located in popular residential areas in Greater Tokyo and central Fukuoka.

Savills IM has also acquired a 75% stake in Forest Lakes Shopping Centre in Perth, Australia, alongside Perth-based Greenpool Capital which acquired the remaining 25%. The centre’s focus is on daily customer needs and it has an occupancy rate of 97%. The purchase price amounts to c. €54 million.

The shopping centre, which is located approximately 15km south-east of the Perth CBD, comprises 42 shops totalling almost 14,580 sq m. The mix includes three supermarkets, Aldi, Coles and Woolworths.

“The real estate market in the Asia-Pacific region offers investors strong economic growth with diversification of investment opportunities,” said Greg Lapham, head of Australia, at Savills IM. “Due to its transparency, Australia is an important and attractive destination for real estate investments and therefore also plays an important role in our flagship pan-Asian fund.”