Please find attached the property portfolio information of ... · currently holds interests in a...

ASX/Media Release

28 February 2012

AJA PROPERTY PORTFOLIO AT 31 DECEMBER 2011 Please find attached the property portfolio information of Astro Japan Property Group as at 31 December 2011.

ENDS Investor & Media Enquiries: Eric Lucas John Pettigrew Senior Advisor Chief Financial Officer Phone: +61 2 8987 3900 (Australia) Phone: +61 2 8987 3902 +81 3 3238 1671 (Japan)

About Astro Japan Property Group (AJA) Astro Japan Property Group is a listed property group which invests in the Japan real estate market. It currently holds interests in a portfolio comprising 41 retail, office and residential properties. Asset management services in Japan are generally undertaken by Spring Investment Co., Ltd. AJA is a stapled entity comprising Astro Japan Property Trust (ARSN 112 799 854) and Astro Japan Property Group Limited (ABN 25 135 381 663). For further information please visit our website: www.astrojapanproperty.com.

http://www.astrojapanproperty.com/

As at 31 December 2011

AJA Property Portfolio

2

Portfolio Overview

Property Location Prefecture

Carrying Value Trust share of net

rentable area

(sqm)

Occupancy by area

Dec-11 % of portfolio

Actual Actual

¥ billions Jun-11 Dec-11

Office

JN Kanagawa prefecture - Yokohama Greater Tokyo 8.1 8.0% 10,075 96.5% 100.0%

Ginza Dowa Central Tokyo - Chuo ward, Ginza Central Tokyo 7.1 7.0% 6,368 91.7% 94.1%

Osaka No.4 Osaka prefecture - Osaka Greater Osaka 6.2 6.1% 13,625 91.9% 93.0%

Osaka No.3 Osaka prefecture - Osaka Greater Osaka 2.4 2.4% 8,387 85.7% 89.6%

Yamashitacho Kanagawa prefecture - Yokohama Greater Tokyo 2.2 2.1% 5,504 56.9% 68.0%

Higashi Totsuka Kanagawa prefecture - Yokohama Greater Tokyo 1.7 1.7% 5,671 93.7% 93.7%

Forest Kita Aoyama Central Tokyo - Minato ward, Kita Aoyama Central Tokyo 1.4 1.4% 998 100.0% 100.0%

Takadanobaba Central Tokyo - Shinjuku ward, Takadanobaba Central Tokyo 1.4 1.4% 2,502 61.9% 38.3%

Sun Ace Tokugawa Aichi prefecture - Nagoya Aichi 1.3 1.3% 6,235 47.2% 46.0%

OS Tsukiji Central Tokyo - Chuo ward, Tsukiji Central Tokyo 1.2 1.2% 2,147 86.5% 86.5%

Prime Kanda Central Tokyo - Chiyoda ward, Kanda Sudacho Central Tokyo 1.2 1.1% 1,680 100.0% 85.7%

Asakusa Tokyo - Taito ward, Komagata Greater Tokyo 1.2 1.2% 2,047 100.0% 100.0%

Shiba Daimon Central Tokyo - Minato ward, Shiba Daimon Central Tokyo 0.8 0.8% 970 100.0% 100.0%

Daikanyama Takara Tokyo - Meguro ward, Kami Meguro Greater Tokyo 0.7 0.7% 959 75.8% 89.9%

Akabane Tokyo - Kita ward, Akabane Greater Tokyo 0.7 0.7% 1,084 87.3% 87.3%

Yotsuya KD Central Tokyo - Shinjuku ward, Yotsuya Central Tokyo 0.5 0.5% 1,200 61.4% 86.7%

FT Nihombashi Central Tokyo - Chuo ward, Nihombashi Hisamatsucho Central Tokyo 0.6 0.6% 1,182 83.3% 83.3%

Sun No.5 Central Tokyo - Chuo ward, Nihombashi Muromachi Central Tokyo 0.5 0.5% 801 100.0% 87.0%

Retail

Kawasaki Dice Kanagawa prefecture - Kawasaki Greater Tokyo 12.1 11.9% 12,062 98.2% 98.2%

Konan Home Centre Chiba prefecture - Ichikawa Greater Tokyo 10.5 10.3% 48,819 100.0% 100.0%

Shinjuku Fuji Central Tokyo - Shinjuku ward, Nishi Shinjuku Central Tokyo 4.5 4.5% 1,476 100.0% 100.0%

Mukomachi Saty Kyoto prefecture - Muko Greater Osaka 4.2 4.2% 22,528 100.0% 100.0%

Shibuya Konami Central Tokyo - Shibuya ward, Shinsencho Central Tokyo 2.3 2.3% 4,993 100.0% 100.0%

Susono Shizuoka prefecture-Susono Shizuoka 2.3 2.2% 12,321 100.0% 100.0%

Matsudo Nitori Chiba prefecture - Matsudo Greater Tokyo 2.2 2.2% 8,946 100.0% 100.0%

Ginowan Okinawa prefecture -Ginowan Okinawa 2.0 1.9% 10,551 100.0% 100.0%

Tsudanuma Chiba prefecture - Narashino Greater Tokyo 2.0 1.9% 1,840 100.0% 100.0%

Sapporo Co-op Hokkaido prefecture - Kitahiroshima Hokkaido 1.1 1.1% 12,209 100.0% 100.0%

Sapporo Toys 'R' Us Hokkaido prefecture - Sapporo Hokkaido 1.6 1.6% 6,163 100.0% 100.0%

Motomachi Kanagawa prefecture - Yokohama Greater Tokyo 1.5 1.5% 1,586 100.0% 55.7%

Sapporo Ai Hokkaido prefecture - Sapporo Hokkaido 1.5 1.5% 3,209 97.0% 100.0%

Harajuku Bell Pier Central Tokyo - Shibuya ward, Jingumae Central Tokyo 1.5 1.5% 783 100.0% 100.0%

Round One Amagasaki Hyogo prefecture - Amagasaki Greater Osaka 1.3 1.3% 5,256 100.0% 100.0%

Round One Nara Nara prefecture - Nara Greater Osaka 1.0 1.0% 5,157 100.0% 100.0%

Kajicho Ekimae Central Tokyo - Chiyoda ward, Kajicho Central Tokyo 0.8 0.8% 881 100.0% 100.0%

Yoshikawa Saitama prefecture -Yoshikawa Greater Tokyo 0.4 0.4% 11,582 95.7% 95.8%

Residential

Tosabori Osaka prefecture - Osaka Greater Osaka 4.2 4.1% 11,549 100.0% 100.0%

Sekijomachi Fukuoka prefecture - Fukuoka Fukuoka 2.5 2.4% 10,755 100.0% 100.0%

G-Clef Kamata Tokyo - Ota ward, Nishi Kamata Greater Tokyo 1.6 1.6% 3,310 100.0% 100.0%

Prime Stay Tsukiji Central Tokyo - Chuo ward, Tsukiji Central Tokyo 0.7 0.6% 1,225 87.3% 83.1%

Nishi Kasai Tokyo - Edogawa ward, Nishi Kasai Greater Tokyo 0.5 0.5% 1,490 100.0% 100.0%

3

PROPERTY TYPE Multi-tenant office building

SUB-MARKET

Yokohama

ADDRESS

3, Otamachi, Naka-ku

Yokohama-shi, Kanagawa

Approximately 400 metres (a five

minute walk) from Kannai station on

the JR Keihin Tohoku lines

The JN property is a 14 storey

office property completed in

September 2007. It faces a major

road (Kannai Odori) in the central

business district of Yokohama,

which is approximately 30 minutes

by train from central Tokyo.

KEY PROPERTY STATISTICS (December 2011)

Summary

Ownership interest

Purchase date

Carrying value (billion)

Completed

PML

100%

Dec 2007

¥8.1

Sep 2007

7.54%

Property Statistics

Land area (square metres)

Trust’s share NRA (tsubo)

Trust’s share NRA (square metres)

Occupancy by area

1,687

3,048

10,075

100.0%

Tenancy Profile

City of Yokohama

Bab-Hitachi

HSBC

Usen

Toppan Forms

Other - 4 tenants

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

28.7%

20.4%

15.5%

7.8%

7.7%

19.9%

JN

Office

4

Ginza Dowa


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2005

¥7.1

Sep 1974

10.72%

Property Statistics




Occupancy by area

1,162

1,926

6,368

94.1%

Tenancy Profile

Kyodo PR

Valic

Seven-Eleven Japan

Taiju Soken / Kaikoukai

Sun M Creation

Other - 20 tenants

Type of lease

Standard Fixed cancellable

Fixed cancellable

Standard

Standard

% of total

rent

39.2%

12.0%

5.3%

5.1%

4.6%

33.9%

PROPERTY TYPE Multi-tenant office building with

some retail tenants

SUB-MARKET

Chuo Ward

ADDRESS

7-2-22, Ginza

Chuo-ku, Tokyo

Approximately 240 metres (a

three minute walk) from Ginza

station on the Tokyo Metro

Marunouchi, Ginza and Hibiya

lines.

The Ginza Dowa property is a

nine-storey plus basement level

office building located in Ginza. It

has a corner location facing

Ginza Corridor Street, one of the

better known Ginza streets.

Office

5

Office

Osaka No. 4


Summary

Ownership interest1

Purchase date


Completed

PML

100%

Sep 2007

¥6.2

Aug 1981

5.47%

Property Statistics

Land area (square metres)1



Occupancy by area

8,439

4,121

13,625

93.0%

Tenancy Profile

Nippon Travel

Sumitomo Life Insurance

Xymax Axis

NTT Marketing

Dimple

Other - 46 tenants

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

10.0%

7.8%

7.7%

6.3%

5.5%

62.6%

PROPERTY TYPE

Multi-tenant office building

SUB-MARKET

Osaka CBD

ADDRESS

1-11, Umeda, Kita-ku

Osaka-shi, Osaka

Approximately 80 metres (a one

minute walk) from Higashi-Umeda

station on Tanimachi line and

approximately 400 metres (a five

minute walk) from JR Osaka

station.

The Property is a 25 storey building

located in the centre of Osaka near

JR Osaka station. It is connected to

JR Osaka and other subway

stations via a recently renovated

underground shopping arcade

which contains a number of retail

stores and restaurants.

¹ AJA's interest in this property comprises a condominium interest in eight floors (7, 8, 18 and 21 to

25). AJA's interest is the largest individual lot in the condominium association. The Trust holds

ownership equivalent to 14.7% of 8,439 sqm of the land.

6

Osaka No. 3


Summary

Ownership interest1

Purchase date


Completed

PML

100%

Sep 2007

¥2.4

Sep 1979

3.48%

Property Statistics




Occupancy by area

10,342

2,537

8,387

89.6%

Tenancy Profile

Nihon Jutaku Ryutsu

Sumitomo Life Insurance

Novac

Sumitomo Real Estate Sales

Seiwa Jyuku

Other – 43 tenants

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

12.9 %

7.3%

6.6%

5.4%

4.6%

63.2%

PROPERTY TYPE


SUB-MARKET

Osaka CBD

ADDRESS

1-1, Umeda, Kita-ku

Osaka-shi, Osaka


minute walk) from Kita-Shinchi

station on JR Tozai line and

approximately 400 metres (a five

minute walk) from JR Osaka

station.

The Property is a 34 storey building

located immediately adjacent to

Osaka Ekimae No. 4 in the centre

of Osaka near JR Osaka station. It

is connected to JR Osaka and other

subway stations via a recently

renovated underground shopping

arcade which contains a number of

retail stores and restaurants.

¹ AJA's interest in this property comprises a condominium interest in five floors (7, 8, 28, 30 and

31). AJA's interest is the largest individual lot in the condominium association. The Trust holds

ownership equivalent to 6.7% of 10,342 sqm of the land.

Office

7

Yamashitacho


Summary

Ownership interest

Purchase date


Completed

PML

100%

May 2007

¥2.2

Oct 1991

5.64%

Property Statistics




Occupancy by area

1,131

1,665

5,504

68.0%

Tenancy Profile

Nihon Chouzai

Cornes & Company

Seven-Eleven Japan

Factory Japan

Panasonic Consumer Marketing

Other – 2 tenants

Type of lease

Standard

Standard Fixed non-cancellable1

Standard non-cancellable2

Standard

% of

total rent

29.9%

15.5%

13.5%

12.4%

12.1%

16.7%

PROPERTY TYPE Multi-tenant office/retail building

SUB-MARKET

Yokohama

ADDRESS

273, Yamashitacho, Naka-ku


Approximately a five minute walk

from Ishikawacho station on the JR

Negishi line.

Yamashitacho is located in

Yokohama City in the Kanagawa

prefecture, approximately 30

kilometres south of Tokyo. The

property is close to the Kanagawa

prefectural government offices,

China Town, Yokohama Stadium

and Motomachi shopping street.

Office

110 year lease. The lease is non-cancellable for the initial five years (until October 2015). 22 year lease (automatically renewed). The lease is non-cancellable until August 2013.

8

Higashi Totsuka


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2005

¥1.7

Feb 1993

10.75%

Property Statistics




Occupancy by area

1,582

1,716

5,671

93.7%

Tenancy Profile

NTT Advanced Technology

Misawa Homes Tokyo

KDDI

Daio Paper

Type of lease

Standard non-

cancellable¹

Standard

Standard

Standard

% of

total rent

62.5%

29.6%

4.4%

3.5%

PROPERTY TYPE


SUB-MARKET

Yokohama

ADDRESS

90-6, Kawakamicho, Totsuka-ku



minute walk) from Higashi Totsuka

station on the JR Yokosuka line.

The Higashi Totsuka property is an

11-storey office building with 38

parking lots at basement level. The

property is adjacent to the Higashi

Totsuka JR station, which is the

second station eight kilometres

south from Yokohama station on

the Yokosuka line and 37

kilometres from central Tokyo.

Office

1 2 year lease (automatically renewed). The leases are non-cancellable until March 2012.

9

Forest Kita Aoyama


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2005

¥1.4

Apr 1991

13.15%

Property Statistics




Occupancy by area

706

302

998

100.0%

Tenancy Profile

Telecom Staff

Type of lease

Fixed non-

cancellable1

% of

total rent

100.0%

PROPERTY TYPE

Single-tenant office building

SUB-MARKET

Minato Ward

ADDRESS

3-10-3, Kita Aoyama

Minato-ku, Tokyo


minute walk) from Omotesando

station served by Tokyo Metro

Ginza, Chiyoda and Hanzomon

lines.

The Forest Kita Aoyama property is

located in the heart of the fashion

and design area of Kita Aoyama in

the Minato ward of central Tokyo.

The building is a modern three-

storey (plus basement and attic)

office building with four car parking

spaces.

Office

1 6 year lease. The lease is non-cancellable for the initial two years (until June 2013).

10

Takadanobaba


Summary

Ownership interest

Purchase date


Completed

PML

100%

Mar 2006

¥1.4

Mar 1986

5.05%

Property Statistics




Occupancy by area

1,211

757

2,502

38.3%

Tenancy Profile

Royal Holdings

Chino

Tosei Corporation

Type of lease

Standard

Standard Fixed non-

cancellable¹

% of

total rent

55.7%

28.7%

15.6%


SUB-MARKET

Shinjuku ward

ADDRESS

3-12-2, Takadanobaba

Shinjuku-ku, Tokyo

Takadanobaba is a four-storey

building with two basement levels

located close to the Takadanobaba

station, a busy rail hub in central

Tokyo approximately seven

kilometres from Tokyo station.

Office

1 1.5 year lease. The lease is non-cancellable during the term (until June 2012).

11

Sun Ace Tokugawa


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2006

¥1.3

Mar 1990

13.60%

Property Statistics




Occupancy by area

1,953

1,886

6,235

46.0%

Tenancy Profile

Toyo Ink Mfg

Hokusho

Nippon Life Insurance

Sanyo Consumer Electric

Okamoto


Type of lease

Standard non-

cancellable¹

Standard

Standard

Standard

Standard

% of

total rent

15.6%

13.1%

12.9%

9.5%

5.9%

43.0%


SUB-MARKET

Nagoya

ADDRESS

1-901, Tokugawa, Higashi-ku

Nagoya-shi, Aichi

Sun Ace Tokugawa is located in

Nagoya, the fourth largest city in

Japan, with a population of

approximately 2.3 million. Nagoya is

a major industrial centre located in

central Japan.

Office

1 2 year lease (automatically renewed). The lease is non-cancellable until March 2012.

12

OS Tsukiji


Summary

Ownership interest

Purchase date


Completed

PML

100%

Dec 2005

¥1.2

Jul 1982

5.17%

Property Statistics




Occupancy by area

455

649

2,147

86.5%

Tenancy Profile

Japan News Agency

Scandex

Sadamatsu

Tokyo Recording

Freerun

Other – 1 tenant

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

32.2%

19.2%

17.8%

16.1%

11.5%

3.2%


SUB-MARKET

Chuo ward

ADDRESS

4-4-12, Tsukiji

Chuo-ku, Tokyo

OS Tsukiji is an eight-floor office

building located in the Tsukiji area

of central Tokyo, immediately to the

east of the Ginza area. The

property is located close to three

subway stations, Higashi Ginza

station on the Hibiya line, Tsukiji

station on the Hibiya line and Tsukiji

Shijo station on the Toei Oedo line.

The Tsukiji Shijo, one of the major

wholesale markets in metropolitan

Tokyo, is located three minutes

from the property.

Office

13

Prime Kanda


Summary

Ownership interest1

Purchase date


Completed

PML

100%

Jan 2006

¥1.2

Aug 1990

7.31%

Property Statistics




Occupancy by area

302

508

1,680

85.7%

Tenancy Profile

Kindaieigasha

Diesel United

Yokogawashikaden

Tokai Optical

Nippon Pachinko Parts

Other – 1 tenant

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

20.2%

19.1%

16.0%

16.0%

14.9%

13.8%


SUB-MARKET

Chiyoda ward

ADDRESS

2-8-2, Kanda Sudacho

Chiyoda-ku, Tokyo


minute walk) from Iwamotocho

station on the Shinjuku subway line

Prime Kanda, constructed in 1990,

is a medium-sized, multi-tenant

office building comprising 10 levels

with basement. It is located in

central Tokyo in the Kanda district,

an area with a mix of small to

medium-sized office and mixed-use

buildings.

¹ This is a condominium property. The 1,680 sqm of NRA represents 100% of the Trust's interest in

level B1 and 4F to 10F. The Trust holds ownership equivalent to 83.7% of 302 sqm of the land.

Office

14

Asakusa


Summary

Ownership interest

Purchase date


Completed

PML

100%

Feb 2006

¥1.2

Sep 2004

3.07%

Property Statistics




Occupancy by area

397

619

2,047

100.0%

Tenancy Profile

Bekkoame Internet

Type of lease

Fixed

non-cancellable1

% of

total rent

100.0%

PROPERTY TYPE Single-tenant office/retail building

SUB-MARKET

Taito ward

ADDRESS

1-3-8, Komogata

Taito-ku, Tokyo

Asakusa is an eight-floor office

property with one basement level,

and is leased to a single tenant on a

fixed non-cancellable lease for 10

years.

¹ 10 year lease. The lease is non-cancellable during the term (until February 2016).

Office

15

Shiba Daimon


Summary

Ownership interest1

Purchase date


Completed

PML

100%

Apr 2005

¥0.8

Mar 1994

7.34%

Property Statistics




Occupancy by area

517

293

970

100.0%

Tenancy Profile

Infomart

Ichirokudo

Type of lease

Standard

Standard

% of

total rent

67.2%

32.8%

PROPERTY TYPE

Multi-tenant office/retail/residential

building

SUB-MARKET

Minato ward

ADDRESS

1-16-3, Shiba Daimon

Minato-ku, Tokyo

Approximately 100 metres (a two

minute walk) from Daimon station

on the Tokyo Metro Asakusa line.

The Shiba Daimon property is

located on a major arterial road –

route 15 – in the Minato ward of

central Tokyo, with a significant

concentration of modern office

accommodation. The property is in

close proximity to a number of rail

and subway links and food and

beverage stores.

¹ This is a condominium property. The 969 sqm of NRA represents 100% of the Trust's interest in

level B1, 1F, 4F and 5F. The Trust holds ownership equivalent to 34.4% of 517 sqm of the land.

Office

16

Daikanyama Takara


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2006

¥0.7

Apr 1991

10.25%

Property Statistics




Occupancy by area

413

290

959

89.9%

Tenancy Profile

Mother Enterprise

CYP

Tekunodo

Type of lease

Standard Standard non-

cancellable¹

Standard

% of

total rent

55.4%

31.6%

13.0%

PROPERTY TYPE


SUB-MARKET

Meguro ward

ADDRESS

1-3-2, Kami-Meguro

Meguro-ku, Tokyo

Approximately 250 metres (a four

minute walk) from Naka Meguro

station on the Hibiya subway line

and 450 metres (a six minute walk)

from Daikanyama station on the

Tokyu Toyoko line.

Daikanyama Takara is a multi-

tenant office building comprising

four levels. It is in a prime location

between two busy stations.

Daikanyama is a vibrant,

fashionable area, one train stop

from the major hub of Shibuya in

central Tokyo.

Office

1 2-year lease (automatically renewed). The lease is non-cancellable until January 2012.

17

Akabane


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2006

¥0.7

Jun 1993

5.74%

Property Statistics




Occupancy by area

202

328

1,084

87.3%

Tenancy Profile

Eikoh

Mini Stop

Shimizu Sangyo

Akabane Law Office

Showa Alphax

Other – 1 tenant

Type of lease

Standard

Standard

Standard

Standard Standard non-cancellable¹

% of

total rent

27.0%

19.9%

14.3%

14.3%

12.2%

12.2%


SUB-MARKET

Kita ward

ADDRESS

1-6-7, Akabane

Kita-ku, Tokyo


minute walk) from Akabane station

on the JR Keihin Tohoku line and

other JR lines.

Akabane is an eight-level office

building, well located in the Akabane

commercial centre, very close to the

railway station. The property has a

convenience store on the ground

level and office tenants on the upper

levels.

Office

1 2-year lease (automatically renewed). The lease is non-cancellable until October 2012.

18

FT Nihombashi


Summary

Ownership interest1

Purchase date


Completed

PML

100%

Jan 2006

¥0.6

Oct 1988

5.76%

Property Statistics




Occupancy by area

256

358

1,182

83.3%

Tenancy Profile

Oriental Bio

Coloplast

Private Individual

Libero

Type of lease

Standard

Standard

Standard

Standard

% of

total rent

39.2%

21.5%

19.6%

19.6%


SUB-MARKET

Chuo ward

ADDRESS

10-6, Nihombashi Hisamatsucho

Chuo-ku, Tokyo

Approximately 250 metres (a three

minute walk) from Higashi

Nihombashi station on the Asakusa

subway line.

FT Nihombashi is a multi-tenant

office building with nine levels. It is

located in the Nihombashi district in

central Tokyo, in an area dominated

by small to medium-sized

businesses.


level 3F to 8F. The Trust holds ownership equivalent to 71.7% of 256 sqm of the land.

Office

19

Yotsuya KD


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2005

¥0.5

Feb 1990

8.09%

Property Statistics




Occupancy by area

228

363

1,200

86.7%

Tenancy Profile

Ito Fujita Patent Office

1 LUX

Epsilon Japan

Transportation Research Institute

Blue Note

Other – 3 tenants

Type of lease

Standard Standard non-

cancellable¹

Standard

Standard

Standard

% of

total rent

19.3%

17.1%

13.0%

12.9%

12.9%

24.8%

PROPERTY TYPE Multi-tenant office/residential

building

SUB-MARKET

Shinjuku ward

ADDRESS

4-25-2, Yotsuya

Shinjuku-ku, Tokyo

Approximately 470 metres (a six

minute walk) from Shinjuku

Gyoenmae station on the Tokyo

Metro Marunouchi line.

Yotsuya KD is a small multi-tenant

office building comprised of nine

floors and a basement. The ground

floor to the seventh floor is leased

as offices and the top two floors

comprise two residential units.

Office

1 2-year lease (automatically renewed). The lease is non-cancellable until July 2013.

20

Sun No. 5


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2005

¥0.5

May 1983

10.02%

Property Statistics

Land area (square metres)¹



Occupancy by area

157

242

801

87.0%

Tenancy Profile

Ramura

Nakamura Kosha

Ashima

Oneconsist

Ohtaoilmill

Other – 2 tenants

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

32.0%

14.4%

12.3%

12.1%

12.1%

17.1%


SUB-MARKET

Chuo ward

ADDRESS

4-2-17, Nihombashi Muromachi

Chuo-ku, Tokyo


minute walk) from Kanda station on

the JR line.

The Sun No. 5 property is a small,

multi-tenant office / retail building.

The property is adjacent to the

Muromachi / Honcho office areas,

where the head office of the Bank of

Japan and the main store of the

Mitsukoshi department store chain

are located.

Office

¹ The land is 100% leased

21

Kawasaki Dice


Summary

Ownership interest1

Purchase date


Completed

PML

48%

Mar 05 & Dec 05

¥12.1

Aug 2003

5.22%

Property Statistics




Occupancy by area

4,475

3,649

12,062

98.2%

Tenancy Profile

Best Denki

Matahari

TOHO Cinemas

Aoi Shoten

Tokyu Hands


Type of lease

Standard

non-cancellable2

Standard

non-cancellable3

Fixed

non-cancellable4

Fixed

non-cancellable5

Standard

% of

total rent

32.8%

28.0%

10.4%

10.0%

7.8%

11.0%

PROPERTY TYPE Multi-tenant (retail, cinema,

restaurant, entertainment) building

SUB-MARKET

Kawasaki

ADDRESS

8, Ekimaehoncho, Kawasaki-ku

Kawasaki-shi, Kanagawa


minute walk) from Kawasaki JR

station and approximately 80

metres (a one minute walk) from

Keikyu-Kawasaki station of Keikyu

line.

Kawasaki Dice is a large scale (11

floors above ground plus two

basement levels) multi-tenant retail,

cinema, restaurant and

entertainment complex

¹ The Trust holds a 48% interest in Kawasaki Dice, which is a condominium interest equivalent to

89.6% of the building and 87% of the land.

2 10 year lease. The lease is non-cancellable during the term (until August 2013). 3 20 year lease. The lease is non-cancellable for the initial 10 years (until August 2013). 4 20 year lease. The lease is non-cancellable during the term (until August 2023). 5 10 year lease. The lease is non-cancellable during the term (until August 2013) .

Retail

22

Konan Home Centre


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2005

¥10.5

Mar 2005

8.02%

Property Statistics




Occupancy by area

83,401

14,768

48,819

100.0%

Tenancy Profile

Toyota Tsusho Corporation / Konan

Shoji

Type of

lease

Fixed non-

cancellable1

% of

total rent

100.0%

PROPERTY TYPE Single-tenant retail home centre

and speciality stores

SUB-MARKET

Ichikawa

ADDRESS

2526-6, Baraki

Ichikawa-shi, Chiba

Located close to the expressway,

approximately 720 metres (a nine

minute walk) from Futamata

Shinmachi station on the JR Keiyo

Line and 20 minutes by car from the

centre of Tokyo.

The Konan Home Centre is a large

scale retail complex comprising a

home centre with additional

speciality shops (consumer

electronics, supermarket, shoe

store, variety goods and a gas

station). It is leased to a single

tenant through to March 2025.

¹ The property is 100% leased to Konan Shoji on a 20 year lease. For the first 12 years (until

March 2017) the master lessee under a non-cancellable Fixed Term Lease is Toyota Tsusho

Corporation pursuant to which Toyota Tsusho subleases to Konan Shoji. From the end of the 12

year master lease term the lease is directly with Konan Shoji.

Retail

23

Shinjuku Fuji


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2006

¥4.5

Jun 1964

16.37%

Property Statistics




Occupancy by area

271

447

1,476

100.0%

Tenancy Profile

Gaia

Watami

Saizeriya

Interbrains

MI Foods System

Type of lease

Fixed

non-cancellable1

Standard Fixed

non-cancellable2

Standard

Standard

% of

total rent

71.1%

13.0%

11.3%

3.0%

1.6%

PROPERTY TYPE Multi-tenant retail building

SUB-MARKET

Shinjuku

ADDRESS

1-16-4, Nishi Shinjuku

Shinjuku-ku, Tokyo

Approximately 270 metres (a four

minute walk) from JR Shinjuku

station.

Shinjuku Fuji is located in a prime

position in the Nishi (west) Shinjuku

district of central Tokyo adjacent to

the Shinjuku station, the busiest

commuter train station in Japan.

The building comprises six floors

above ground and two basement

levels.

115 year lease. The lease is non-cancellable for the initial seven years (until July 2012). 210 year lease. The lease is non-cancellable during the term (until June 2012).

Retail

24

Mukomachi Saty


Summary

Ownership interest

Purchase date


Completed

PML

100%

Nov 2005

¥4.2

Sep 70/Nov 81/ Apr 97

13.11%

Property Statistics




Occupancy by area

11,690

6,815

22,528

100.0%

Tenancy Profile

Aeon Retail

Type of lease

Standard

non-cancellable1

% of

total rent

100.0%

PROPERTY TYPE Single-tenant retail building

SUB-MARKET

Kyoto

ADDRESS

15 Kotsukuda, Teradocho

Muko-shi, Kyoto

Approximately 170 metres (a 3

minute walk) from Higashi Muko

station on Hankyu Kyoto line and 630

metres (an 8 minute walk) from JR

Mukomachi station.

Mukomachi Saty is a single-tenant,

six-level shopping centre, including

machinery room on 5th and 6th floor,

with car parking located in Muko, six

kilometres southwest of central

Kyoto.

116 year lease. The lease in non-cancellable until June 2012.

Retail

25

Shibuya Konami


Summary

Ownership interest

Purchase date


Completed

PML

100%

Aug 2006

¥2.3

May 1990

6.88%

Property Statistics




Occupancy by area

756

1,510

4,993

100.0%

Tenancy Profile

Konami Sports & Life

Type of lease

Standard

non-cancellable1

% of

total rent

100.0%

PROPERTY TYPE Single-tenant fitness club

SUB-MARKET

Shibuya ward

ADDRESS

18-11, Shinsencho

Shibuya-ku Tokyo


minute walk) from Shinsen Station

on the Keio Inokashira line. The

property is facing Yamate dori.

Shibuya Konami is a nine-storey,

single tenant fitness club with two

basement/parking floors. Located

within walking distance from central

Shibuya, one of the busiest retail

districts in Tokyo.

110 year lease. The lease in non-cancellable for the initial five years (until March 2014).

Retail

26

Susono


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2007

¥2.3

Jun 1994

17.26%

Property Statistics




Occupancy by area

8,859

3,727

12,321

100.0%

Tenancy Profile

Gourmet City Kanto

Aeon Kimisawa

MY Communications

Shizuoka Labor Bureau

Type of lease

Standard

non-cancellable1 Standard

non-cancellable2 Standard

non-cancellable3

Standard

% of total

rent

59.6%

38.2%

1.2%

1.0%


SUB-MARKET

Susono

ADDRESS

891-1 aza, Nakahata

Sano, Susono-shi, Shizuoka


minute walk) from Susono station

on the JR Gotemba line.

Susono is a four-storey retail

building located close to the railway

station in Susono, Shizuoka.

1 20 year lease. The lease is non-cancellable during the term (until June 2014). 2 20 year lease. The lease is non-cancellable during the term (until June 2014). 3 5 year lease. The lease is non-cancellable for the initial three years (until March 2014).

Retail

27

Matsudo Nitori


Summary

Ownership interest

Purchase date


Completed

PML

100%

Oct 2006

¥2.2

Sep 2004

2.97%

Property Statistics




Occupancy by area

3,573

2,706

8,946

100.0%

Tenancy Profile

Nitori Holdings

Type of lease

Standard

non-cancellable1

% of

total rent

100.0%

PROPERTY TYPE Single-tenant retail building

SUB-MARKET

Matsudo

ADDRESS

2301-7, Matsudo

Matsudo-shi, Chiba

Approximately 1.2 kilometres (a 15

minute walk) from Matsudo station

on the JR Joban line. The property

is facing Route 6.

Matsudo Nitori is a five-storey retail

building completed in September

2004 and occupied by a single

tenant. It is located in a densely

populated area, Matsudo in Chiba,

east of Central Tokyo.

¹20 year lease. The lease in non-cancellable during the term (until September 2024).

Retail

28

Ginowan


Summary

Ownership interest

Purchase date


Completed

PML

100%

Aug 2006

¥2.0

Jan 2001

9.99%

Property Statistics




Occupancy by area

22,300

3,192

10,551

100.0%

Tenancy Profile

Daiso Sangyo

Uniqlo

Fun Field

Melaleuca of Japan

Aeon Ryukyu

Other – 5 tenants

Type of lease

Standard

Standard

Fixed

non-cancellable1

Standard

non-cancellable2

Standard

% of

total rent

13.7%

12.5%

12.5%

11.6%

11.5%

38.3%


SUB-MARKET

Ginowan

ADDRESS

7-6-1, Oyama

Ginowan-shi, Okinawa

Ginowan is a roadside shopping

centre comprising four buildings

(each of one or two storeys) located

in Ginowan, Okinawa. It has a

variety of specialty retailers

including Aeon, Uniqlo, Shimamura,

Shoe Plaza and Daiso.

1 3 year lease. The lease in non-cancellable during the term (until January 2014). 2 3 year lease. The lease is non-cancellable during the term (until November 2013).

Retail

29

Tsudanuma


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2007

¥2.0

Feb 1976

10.52%

Property Statistics




Occupancy by area

584

557

1,840

100.0%

Tenancy Profile

Segami Medics

Jonathan’s

Chiba Red Cross Blood Centre

Manboo

Monteroza

Type of lease

Fixed

non-cancellable1

Standard

Standard

Standard

Standard

% of

total rent

29.3%

19.5%

17.9%

17.9%

15.4%


SUB-MARKET

Narashino

ADDRESS

1-11-4, Tsudanuma

Narashino-shi, Chiba


minute walk) from JR Tsudanuma

station on the JR Sobu line.

A six-storey retail building located in

the middle of a busy retail area in

the Chiba prefecture, east of Tokyo.

110 year lease. The lease in non-cancellable during the term (until January 2018).

Retail

30

Sapporo Co-op


Summary

Ownership interest

Purchase date


Completed

PML

100%

Aug 2006

¥1.1

Apr 1992

5.02%

Property Statistics




Occupancy by area

15,153

3,693

12,209

100.0%

Tenancy Profile

Co-op Sapporo

Pandora

Fun Field

Shichifuku Shoji

Type of lease

Standard

non-cancellable1

Fixed

non-cancellable2

Fixed

non-cancellable3

Standard

% of

total rent

67.5%

31.2%

1.1%

0.3%

110 year lease. The lease in non-cancellable during the term (until November 2012). 21 year lease. The lease is non-cancellable during the term (until May 2012). 31 year lease. The lease is non-cancellable during the term (until November 2012).


SUB-MARKET

Kitahiroshima

ADDRESS

1-4-1, Sakaecho

Kitahiroshima-shi, Hokkaido

Approximately 500 metres (a seven

minute walk) from Kitahiroshima

station on JR Chitose line.

Sapporo Co-op is a large scale

retail complex comprising a general

merchandise store and amusement

arcade. It is located in

Kitahiroshima, a suburb of greater

Sapporo.

Retail

31

Sapporo Toys ‘R’ Us

PROPERTY TYPE Two retail buildings

SUB-MARKET

Sapporo

ADDRESS

3-3-11, Hassamu 14-jo

Nishi-ku, Sapporo-shi, Hokkaido

Approximately 1.2 kilometres (a 15

minute walk) from JR Hassamu

Chuo station, approximately nine

kilometres from central Sapporo,

Hokkaido.

Sapporo Toys ’R’ Us comprises a

two-building retail complex. It is

located in Sapporo, the prefectural

capital of Hokkaido, the northern-

most main island of Japan.


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2006

¥1.6

Oct 93/Jan96

2.84%/4.21%

Property Statistics




Occupancy by area

13,223

1,865

6,163

100.0%

Tenancy Profile

Toys ‘R’ Us Japan

Daiya Shobo

Type of lease

Standard Standard

non-cancellable1

% of

total rent

77.7%

22.3%

Retail

1 18 year lease. The lease is non-cancellable during the term (until January 2014).

32

Sapporo Ai


Summary

Ownership interest

Purchase date


Completed

PML

100%

Sep 2007

¥1.5

Oct 1989

0.47%

Property Statistics




Occupancy by area

610

971

3,209

100.0%

Tenancy Profile

KN Sanko

OCC

Ree Pro

Collaboration & Action

Marui

Other – 7 tenants

Type of lease

Standard

Fixed cancellable

Standard

Fixed cancellable

Standard

% of

total rent

35.1%

14.9%

12.4%

8.1%

6.7%

22.7%


SUB-MARKET

Sapporo

ADDRESS

1-2, Kita-4 Nishi-2

Chuo-ku, Sapporo-shi, Hokkaido

Located adjacent to Sapporo

Station and linked via an

underground walkway.

Sapporo Ai is an eight storey retail

centre with three basement floors

situated in the Sapporo CBD near

JR Sapporo station, one of the

busiest retail areas on Hokkaido

Island.

Retail

33

Harajuku Bell Pier


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2005

¥1.5

Jan 2004

7.01%

Property Statistics




Occupancy by area

372

237

783

100.0%

Tenancy Profile

M & T Consul

Baycrews

Private Individual

Green Stamp

Carmine

Other – 4 tenants

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

25.4%

15.6%

14.1%

11.7%

10.4%

22.9%


SUB-MARKET

Shibuya ward

ADDRESS

6-6-2, Jingumae

Shibuya-ku, Tokyo

Located approximately 200 metres

(a three minute walk) from Meiji-

Jingumae station on the Tokyo

Metro Chiyoda line.

Harajuku Bell Pier is a multi-tenant

retail building completed in 2004. It

is located in the Harajuku /

Omotesando retail area of central

Tokyo, the heart of youth and

design culture in Tokyo.

Retail

34

Motomachi


Summary

Ownership interest

Purchase date


Completed

PML

100%

Apr 2005

¥1.5

Jun 1992

9.57%

Property Statistics




Occupancy by area

387

480

1,586

55.7%

Tenancy Profile

Joyful Maruyama

DC

Kenwakai Medical Corporation

Private Individual

Private Individual

Other – 1 tenant

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

28.6%

28.3%

12.9%

10.7%

10.2%

9.2%

PROPERTY TYPE Multi-tenant retail building with

some office tenants

SUB-MARKET

Yokohama

ADDRESS

4-168, Motomachi, Naka-ku



minute walk) from Ishikawacho

station on the JR Negishi line and

Motomachi-Chukagai station on the

Minatomirai line.

The Motomachi property is a prime

retail building located in the centre

of Yokohama’s leading upmarket

specialty retail street, Motomachi.

Retail

35

Round One Amagasaki


Summary

Ownership interest

Purchase date


Completed

PML

100%

Sep 2007

¥1.3

Sep 1998

6.60%

Property Statistics




Occupancy by area

3,590

1,590

5,256

100.0%

Tenancy Profile

Round One

Type of lease

Standard

non-cancellable1

% of

total rent

100.0%

PROPERTY TYPE Single-tenant retail (amusement)

SUB-MARKET

Amagasaki

ADDRESS

4-5-25, Nishi Namba

Amagaski-shi, Hyogo


(a nine minute walk) from Hanshin

Deyashiki station.

Round One Amagasaki is a single

tenant retail building over six levels.

It is located on Route 2 in

Amagasaki, west of Central Osaka 120 year lease. The lease in non-cancellable during the term (until May 2018).

Retail

36

Round One Nara


Summary

Ownership interest

Purchase date


Completed

PML

100%

Sep 2007

¥1.0

Jul 1998

9.95%

Property Statistics




Occupancy by area

2,989

1,560

5,157

100.0%

Tenancy Profile

Round One

Type of lease

Standard

non-cancellable1

% of

total rent

100.0%

PROPERTY TYPE Single-tenant retail (amusement)

SUB-MARKET

Nara

ADDRESS

7-1-43, Shin Omiya

Nara-shi, Nara


(an eight minute walk) from Shin

Omiya station of Kintetsu line.

Round One Nara is a single tenant

retail building with six levels. It is

located on Route 369 in Nara, 50

minutes by train from Osaka.

118 year lease. The lease in non-cancellable during the term (until April 2016).

Retail

37

Kajicho Ekimae


SUB-MARKET

Chiyoda ward

ADDRESS

2-9-3 Kajicho

Chiyoda-ku, Tokyo


minute walk) from Kanda station on

the JR and Ginza subway lines.

Kajicho Ekimae is a five-level multi-

tenant property, located in a

predominately retail area known as

Kanda within Central Tokyo.


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2006

¥0.8

Nov 2002

11.00%

Property Statistics




Occupancy by area

266

267

881

100.0%

Tenancy Profile

Watami

Ootoya

Reins

Colowide East Japan

Type of lease

Standard

Standard

Standard

Standard

% of

total rent

39.2%

24.4%

22.5%

13.9%

Retail

38

Yoshikawa


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jun 2007

¥0.4

Oct 1992

5.70%

Property Statistics




Occupancy by area

9,136

3,504

11,582

95.8%

Tenancy Profile Type of lease

% of

total rent

Kasumi

HIC

Sanki

Let’s Consulting

Daiso Sangyo


Fixed

non-cancellable1

Standard

Fixed

cancellable

Fixed

non-cancellable2

Fixed cancellable

48.2%

8.3%

8.1%

6.6%

6.6%

22.2%


SUB-MARKET

Yoshikawa

ADDRESS

1518-1, Sakae-cho

Yoshikawa-shi, Saitama

Approximately 4 kilometres from

Yoshikawa station on the JR

Musashino line.

The property is a local

neighbourhood shopping centre

located in Yoshikawa in Saitama,

approximately 30 kilometres north

of Tokyo. The property was

renovated in June 2006.

110 year lease. The lease is non-cancellable during the term (until August 2016). 2 10 year lease. The lease is non-cancellable until May 2014.

Retail

39

Tosabori


Summary

Ownership interest

Purchase date


Completed

PML

100%

Dec 2007

¥4.2

Sep 2007

8.93%

Property Statistics




Occupancy by area

1,816

3,494

11,549

100.0%

Tenancy Profile

Takuto Kanri

Type of lease

Fixed

non-cancellable1

% of

total rent

100.0%

17 year lease. The lease in non-cancellable during the term (until December 2014).

PROPERTY TYPE Residential building

SUB-MARKET

Osaka CBD

ADDRESS

3-3-2, Tosabori, Nishi-ku

Osaka-shi, Osaka

A 15 storey residential building,

completed in September 2007 and

master-leased to a single tenant. It

is located in a predominately

residential area known as Tosabori

within central Osaka and comprises

18 studio, 159 one-bedroom, 24

two-bedroom, 11 three-bedroom

and 2 four-bedroom apartments.

Residential

40

Sekijomachi


Summary

Ownership interest

Purchase date


Completed

PML

100%

Sep 2007

¥2.5

Mar 2007

4.74%

Property Statistics




Occupancy by area

3,154

3,253

10,755

100.0%

Tenancy Profile

Jikei Space

Type of lease

Standard1

% of

total rent

100.0%

1 Cancellable only when the lessor agrees and lessee forfeits the tenant deposit.


SUB-MARKET

Fukuoka

ADDRESS

21 Sekijomachi, Hakata-ku

Fukuoka-shi, Fukuoka

Sekijomachi is a seven storey

building comprising 302 one-

bedroom apartments designed for

student accommodation. It is

located in Fukuoka, the largest city

in Kyushu (the southern most main

island of Japan) with a population of

1.5 million (Japan’s 7th largest city)

Residential

41

G-Clef Kamata


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2006

¥1.6

Jan 1992

12.38%

Property Statistics




Occupancy by area

1,690

1,001

3,310

100.0%

Tenancy Profile

Kobe Steel

Type of lease

Fixed

non-cancellable1

% of

total rent

100.0%

15 year lease. The lease is non-cancellable during the term (until September 2012).


SUB-MARKET

Ota ward

ADDRESS

4-15-11, Nishi-kamata

Ota-ku, Tokyo

Approximately 15 kilometres south

of Tokyo station and 730 metres (a

ten minute walk) from Kamata

station on JR Keihin Tohoku line.

G-Clef Kamata, in the Kamata area

south of central Tokyo, comprises

84 one-room residential units (small

studio type rooms of approximately

24 square metres). Kamata,

between Tokyo and Kawasaki, is

part of a major industrial centre

where there are many apartment

complexes for industrial workers.

Residential

42

Prime Stay Tsukiji


Summary

Ownership interest 1

Purchase date


Completed

PML

100%

Jan 2006

¥0.7

Jun 1986

9.19%

Property Statistics




Occupancy by area

414

370

1,225

83.1%

Tenancy Profile

Mitsubishi Jisho House Net

Little Okinawa Overseas

Y.K. Corporation

Nikkei I.N.T.

Integration

Other - 32 tenants

Type of lease

Standard

Standard

Standard

Standard

Standard

% of

total rent

15.2%

15.1%

6.6%

5.1%

3.2%

54.8%


level 3F to 11F. The Trust holds ownership equivalent to 67.7% of 414 sqm of the land.

PROPERTY TYPE Multi-tenant residential building

SUB-MARKET

Chuo ward

ADDRESS

3-13-11, Tsukiji

Chuo-ku, Tokyo


minute walk) from Tsukiji station on

the Hibiya subway line.

Prime Stay Tsukiji is an 11-storey

multi-tenant residential property. It

is located in a quiet street, adjacent

to the Tsukiji Honganji Temple.

Residential

43

Nishi Kasai


Summary

Ownership interest

Purchase date


Completed

PML

100%

Jan 2006

¥0.5

Nov 1990

6.62%

Property Statistics




Occupancy by area

499

451

1,490

100.0%

Tenancy Profile

Arealink

Type of lease

Standard

non-cancellable1

% of

total rent

100.0%

15 year lease. The lease is non-cancellable for the initial three years (until January 2012).

PROPERTY TYPE

Residential building

SUB-MARKET

Edogawa ward

ADDRESS

2-8-14, Nishi Kasai

Edogaw-ku, Tokyo

Approximately 930 metres (a 12

minute walk) from Nishi Kasai

station on the Tozai subway line.

Nishi Kasai is a five-storey

residential building. It comprises

65 one-room apartment units.

Nishi Kasai is mainly a residential

and light industrial area, located

less than eight kilometres east of

Tokyo station.

Residential

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