After my report on Singtel AGM some months back, I did not do much on the ground update.
Since I am on a business trip to Sushi land, so decided to checkout some of the properties under $StarhillGbl Reit(P40U.SI)
First off is Ebisu Fort. It is about 13 min from Ebisu station. It was a upslope walk for this old man here. It houses Family mart (equivalent to 7 Eleven here) on the ground floor and have a salon and some offices. The building looks like military green instead of black you seen on the Starhill Reit website. It is near a traffic junction and on a Sunday afternoon, there are people walking around and junior high school students aplenty, but it is not those bustling malls we seen in Shinjuku or Tokyo. It is relatively quiet. I am not sure if the salon will thrive, but Family Mart definitely wills stay. In Japan, less than 60 metres, you should see a convenience store and many people visit them.
I don’t see a restaurant though but since it is quoted 100% tenancy, so I guess it will still be ok.
Second stop is Daikanyama. It is 2-minute walk or less from the Daikanyama station. This is interesting! Near this station, you will find hipster joint cafes and shops around. You can be assured of people visiting the cafes and restaurants there. Daikanyama seem like where upper middle-class people lived. Now the building where Starhill REIT took is about 2 minutes away from the station, and house a German glassware shop, a furniture shop and now READ THIS a Brompton Bike shop (Starhill did not update new tenant leh on their website). On a quite Sunday afternoon, there are some people in the bike shop and the owner allow me to take pictures. Brompton Bikes are HOT even I don’t cycle. The other 2 shops seem very quiet. Who will buy expensive glassware or nice furniture or cushions every day?
Since it is 100% tenanted, what can you say.
Actually, I did looked this Starhill REIT sometime back, and the price did not go down to my entry price and consider that I have 2 REITS counter already, I am not so keen to add another one. This one is still on my watchlist though. This post is partially inspired by @layers who walked the ground at Tampines, Vivo and @Dividend_Warrior who walked the ground in the malls of Jurong East.
Below are some pics, actually more but the corrupted SD Card on handphone caused me to lost all of them.