Starhill Global has sold a premium retail property in Tokyo.

The REIT has been paid S$29.9 million for Roppongi Terzo, a prime retail property located in the luxury Roppongi district, a price $700,000 above its latest reported valuation.

The transaction translates into a yield of 4.4 per cent.

Starhill says it plans to use the proceeds to pay down debt in yen loans.

The REIT is now left with just four properties in Japan.