Mitsui Fudosan UK is pleased to announce that Hideto Yamada joined Mitsui Fudosan UK from Mitsui Fudosan's Tokyo head office as Managing Director on 14th April 2008.
The UK will be the third country that Hideto has been assigned to for Mitsui Fudosan, having served as Managing Director of TID, a joint venture company with the Hong Leong Group in Singapore, and Senior Vice President of Mitsui Fudosan America, the Group's US arm. He joins Mitsui Fudosan UK following his role as Executive Manager at Mitsui Fudosan's International Department in Tokyo.
Hideto succeeds Motomitsu Morimoto, who returns to Tokyo after four years of managing Mitsui Fudosan UK, a time which saw the company reignite and expand its business in the UK, forming an alliance with Stanhope and securing investments into 20 Old Bailey, EC4 and 5 Hanover Square, W1, where Mitsui Fudosan UK recently completed the purchase of the freehold interest.
Mitsui Fudosan UK is currently also in the process of recruiting additional professional staff to strengthen its London team.
Hideto Yamada commented: "I am pleased to be undertaking this role at Mitsui Fudosan UK in what promises to be an exciting time for the group's global business, not least in the UK. I look forward to working closely with our valued partners, advisers and clients with a vision to establish our UK and European business in the long-term."
New mixed-use development for iconic central London Square
Mitsui Fudosan UK, the UK arm of Japan's leading property company, has submitted a planning application to Westminster City Council for their proposals for a new mixed-use development at 5 Hanover Square, behind Oxford Street in London's West End. This will be the first project to be carried out jointly since Mitsui Fudosan acquired a 15% stake in Stanhope.
The planning application for the building, which was recently acquired by Mitsui Fudosan UK from Japan Airlines, seeks approval for a new mixed-use redevelopment scheme. This will include 15,000 sq ft of high-quality residential accommodation, split across 5 units including one duplex, 65,000 sq ft of commercial office space and 10,000 sq ft of ground floor retail.
The project is scheduled for completion in 2010.
Stanhope is the Development Manager for the project and Squire and Partners are the scheme's architects.
In line with the stated strategies of both Stanhope and Mitsui Fudosan to create positive work/life environments that are sympathetic to their surrounding areas, the scheme has been designed to enhance the interest and character of Hanover Square by applying modern and sustainable building methods and designs within a classic Georgian setting.
These include the incorporation of photovoltaics and designing the façade to limit solar gain and heat loss. The project is predicted to achieve an 18% improvement over Part L 2006 and an overall BREEAM rating of "Very Good".
Hideto Yamada, Managing Director of Mitsui Fudosan UK, commented: "We are delighted to announce the launch of this project, which will provide a new landmark mixed-use building in a location of significant importance to the local community. London is a key global market for the Mitsui Fudosan Group and we look forward to working on our first development with Stanhope to successfully expand our business in the UK market."
David Camp, Chief Executive of Stanhope, said: "This prominent mixed-use scheme provides us with an excellent opportunity not only to set the benchmark for our working partnership with Mitsui Fudosan but also to showcase again our industry-leading skills and innovation in sustainable development. We are confident that, with the benefit of our substantial experience of delivering high quality mixed-use developments in London, we will unlock the potential of the building and the location and create highly attractive space for the benefit of our future tenants, partners and stakeholders."
Michael Squire of Squire and Partners said: "We are delighted to be working with Mitsui Fudosan and Stanhope on this prestigious development and are committed to creating a first class building that sets a new design standard for Hanover Square."
