Partners Group has invested in a 15-storey commercial building Hong Kong’s populated Tsuen Wan district.
Originally one of Hong Kong’s oldest industrial districts, Tsuen Wan has been regenerated over the past decade and today is a commercial and residential hub in Hong Kong’s New Territories.
The strategy involves repositioning and rebranding the property as a modern, “Ginza-styled” vertical lifestyle and food and beverage centre, the firm said. The building is well-positioned to benefit from growing retail demand in Tsuen Wan which is supported by favorable fundamentals such as rising incomes as well as improving infrastructure, according to Bastian Wolff, a senior investment manager at Partners Group.
He said, “We are pleased to be investing in this attractive opportunity for our clients. In line with our shift towards shorter duration investments, an under-managed property such as this offers potential for value creation through active asset management.
“Together with our local investment partner, who has strong expertise in the retail and office sector in Hong Kong, we intend to have the property repositioned and rebranded to capitalize on the high pedestrian flow from middle-income residents, office workers and students in the area.”
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