– 15 August 2015 –
Excel Property Services has worked at the heart of the Japanese corporate lettings sector for many so it was a natural progression for us to open a dedicated Japanese desk to handle the rapidly growing number of enquiries from both landlords and corporate tenants.
The Japanese agency desk opened in April 2015 and has experienced runaway demand with the likes of the Embassy of Japan and numerous Japanese financial institutions calling upon our niche expertise, intrinsic knowledge and understanding of the specific needs of Japanese tenants in order to source properties that meet their discerning requirements.
The desk is headed by Asami Kubo who joined us in 2015 bringing with her a wealth of knowledge in this sector. Asami was joined by Soonae Simon, of Japanese and English heritage, in July 2015. Soonae is a recent graduate of the School of Oriental & African Studies and has further expanded our skillset in this area.
In addition to an already thriving portfolio of Japanese corporate tenants placed in long term tenancies and providing our valued landlords with secure rental income, the team has secured new long term tenancies for a host of highly respected organisations. Here’s a snapshot of the team’s success over the past nine months:
Japanese Corporate Lets in 2015
Japanese Rental Trends
A recent trend that has come to our attention is how Japanese corporate tenants and expatriates are favouring newly refurbished properties, often paying above market rate to secure precisely what they desire.
One example of this trend is a property in the smart new Swiss Cottage development The Visage, which we recently let to corporate tenant Bank of Tokyo-Mitsubishi UFJ Ltd. On completing the purchase, we consulted with the buyer as to prospective tenants for his investment.
Asami immediately realised the potential of this superior standard, newly finished apartment amongst her network of Japanese corporate tenants and, within just a matter of days, a senior member of the bank and his family viewed the property and made an above asking price offer.
The tenancy was agreed to start just two weeks from instruction, and just goes to prove how property of this nature has the potential to be snapped up very quickly by high calibre tenants willing to pay over the average.
Do you have property to let to Japanese tenants?
We are currently fielding a number of enquiries from Nikki Capital and Daiwa Capital together with commodities trading companies such as Sumitomo Corporation, Kawasaki Corporation and Itochu.
We are also aware that NYK Group, K-Line and various other global organisations are transferring employees to their London offices in the coming months, all of whom will be seeking prime rental property. This is in addition to our already 100-strong network of Japanese companies that rely on us on a regular basis.
If you have property that matches the criteria demanded by Japanese tenants, or are looking to expand your portfolio, our dedicated experts can advise on specific properties and developments that are sought after by Japanese corporate tenants, in order to maximise your investment. Give us a call on 020 7691 9000 or email asami@excel-property.co.uk
You may also be interested to read our related post: why Japanese tenants make the perfect fit for your property.