|
|
 |
Next, I will explain the value-up of Urban Retail Properties.
It has passed three years since "Tokyu Plaza Omotesando Harajuku" opened, and some tenants with contracted lease term are at the time of the contract expiry.
We are going to renovate the property in the 3rd and 4th floor to keep the property appaeling and to expand new customer segments. We make efforts not to lose our opportunities to make profit by renovating in a short period without entirely closing the floors.
In "Tokyu Plaza Sapporo", we renovated 76 rooms out of 575 rooms. We have completed over 85% in total including 414 rooms renovated before acquisition. We are going to renovate the rest of 85 rooms in the 9th period.
We also plan to renovate 57 rooms at "Tokyu Plaza Akasaka" in the 8th period.
Both of the renovations are designed to increase the average revenue per customer.
Please turn over the page.
|
|
|
