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Now I would like to move on Commercial Mall Hakata.
Commercial Mall Hakata is located in an area close to the center of Fukuoka City, approximately 2.2 km from Hakata Station, and the property was acquired with warehousing assistance from the sponsor group for ¥6,100 million with an appraisal NOI yield of 5.0%.
The property is attractive for three main reasons.
First, its location in "Hakata-ku" area with a remarkable population growth even compared to Fukuoka City, which records the fastest population growth amongst the Government-designated city in Japan.
Second, its high visibility and easy access from the roadside as the property is widely facing Chikushi Street.
And third, its tenants including mainly nationwide chains such as TSUTAYA and UNIQLO, where visitors tend to spend their time.
As shown in the floor map at the bottom right, the mall with a total of 19 tenants is characterized as multi-tenant retail property.
Also, the parking lots on the ground, the third floor and the roof floor have abundant space for total 325 vehicles, sufficient capacity as a roadside retail property.
In addition, the fixed-rent rate is 100%, which ensures us a stable management of the property same as A-FLAG KITA SHINSAIBASHI.
Next I would like to explain internal growth.
Please proceed to the next page.
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