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Japan Real Estate Insights by estie
Japan Real Estate Insights by estie
Japan Real Estate Insights by estie
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A.D.Works Launches Repositioned Quintessa Hotel Fukuoka Watanabe-dori Comic&Books Following Major Renovation

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A.D.Works Launches Repositioned Quintessa Hotel Fukuoka Watanabe-dori Comic&Books Following Major Renovation

A.D.Works Launches Repositioned Quintessa Hotel Fukuoka Watanabe-dori Comic&Books Following Major Renovation

A.D.Works (ADW) has announced the opening of the Quintessa Hotel Fukuoka Watanabe-dori Comic&Books in Chuo Ward, Fukuoka, following its acquisition and repositioning of the asset. The company has invested approximately JPY 200 million in a large-scale renovation and plans to resell the property on a whole-building basis.

The Fukuoka hotel market is in a recovery phase. Monthly rents for hotels held by J-REITs have rebounded from their pandemic lows to around JPY 20,000 per tsubo (approx. 35.6 sq. ft.), while cap rates are hovering at a low level of around 4.2%. Unit pricing is in the JPY 3.5 million per tsubo (approx. 35.6 sq. ft.) range, a step down from the JPY 4.0 million-per-tsubo range seen at the 2019–2020 peak. Against the backdrop of recovering inbound demand, conditions are favorable for value-add investment strategies (as of 2025, based on an in-house analysis using estie J-REIT data).

The 16-year-old hotel was acquired by ADW’s Fukuoka office in March 2025. As part of the repositioning, the former banquet hall has been converted into a men-only cabin floor, boosting key count and improving functionality. The property also features a library with roughly 10,000 manga titles and a large public bath, aligning the specifications with anticipated demand from inbound guests.

Although the JPY 200 million renovation program is sizable, the company expects to recoup its investment, supported by the recovery in rental income and stable cap rates. ADW is broadening its traditional whole-building resale business, which has centered on residential and office assets, to include hotel assets. The company is targeting pre-tax profit of JPY 20 billion by 2034 and is moving quickly to build a track record in new asset classes.

Key Facts

  • Property Name: Quintessa Hotel Fukuoka Watanabe-dori Comic&Books

  • Sponsor: A.D.Works Co., Ltd.

  • Operator: Quintessa Hotels Co., Ltd. (Core Global Management Co., Ltd.)

  • Location: 2-6-23 Kiyokawa, Chuo-ku, Fukuoka-shi, Fukuoka Prefecture

  • Nearest Station: Watanabe-dori Station (Fukuoka City Subway Nanakuma Line), approx. 10 minutes on foot

  • Completion: 2009

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