Grosvenor to sell luxury apartments in The Westminster Roppongi (aka Roppongi Arents)

International property development group, Grosvenor, will be selling off individual apartments in a luxury residential building adjoining the Roppongi Hills complex.

The Westminster Roppongi (previously named Roppongi Arents) is a 14-storey apartment building that was completed in 2003 – the same time as Roppongi Hills. Apartments range in size from 88.45 to 288.77 sqm (951 ~ 3107 sqft) and have previously been rented for between 470,000 ~ 2,200,000 Yen per month.

Foreign investors return to Japan’s property market

Roppongi Arents. Purchased by Grosvenor from Japan Tobacco in October 2011.

According to the Mainichi Shimbun, Foreign investors and foreign capital investment corporations are showing enthusiasm for Japan’s real estate market. European and American property and investment companies are continuing to purchase residential and commercial buildings, while a major US bank has set forth on establishing a REIT in Japan.

The background to this renewed vigor is the outflow of funds in Europe due to the European debt crisis, and a general feeling that the real estate market in Japan has bottomed out. Experts are anticipating that the long-stagnating real estate market is finally reaching a turning point.

The Mark Minami Azabu sold to Grosvenor

Grosvenor Asia Pacific Limited have purchased expatriate apartment “The Mark Minami Azabu” for an undisclosed sum in January 2012.

The Mark was built on the site of the former training institute of Tokio Marine & Nichido Fire Insurance. The building was completed in August 2008, just prior to the collapse of Lehman Brothers which sent shockwaves throughout the economy and had a serious affect on the market for expat tenants.

Grosvenor purchases Roppongi Arents

Grosvenor, an international property development group, announced that they purchased Roppongi Arents from Japan Tobacco in October 2011. JT had listed the building for sale at the end of 2010.

Roppongi Arents is a luxury residential apartment building built in 2003. The 4400 sqm site adjoins the Roppongi Hills development. Apartments range in size from 88.45 to 288.77 sqm (951 ~ 3107 sqft) and can be rented for between 470,000 and 2,200,000 Yen/month.

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