Baar-Zug, 2 October 2012
Partners Group, the global private markets investment manager, has invested in a 15-storey commercial building strategically located in the heart of Hong Kong's densely populated Tsuen Wan district on behalf of its clients. Originally one of Hong Kong's oldest industrial districts, Tsuen Wan has been regenerated over the past decade and today is a major 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 F&B center. 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.
Bastian Wolff, a senior investment manager at Partners Group, comments, "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."