The massive redevelopment of the Osaka Station North District (“Umekita”) is well underway. The 38,000sqm site will have commercial office buildings, retail stores, a hotel and serviced apartments and a residential condominium tower. The design of the “Osaka North Plaza” located at the southern end of the site will be supervised by famous Japanese architect firm, Tadao Ando Architect and Associates.
The luxury condominium at the north end of the site is called Grand Front Osaka Owner’s Tower. The 48 story tower will house 525 units. The most expensive apartment is a 300 sqm (3228 sqft) 3-bedroom penthouse apartment priced at 415 million Yen (5.4 million USD).
The development is less than a 6 minute walk to Osaka Station and is arguably the best location in Osaka.
Apartments range in size from 47.78 – 300 sqm and are priced up to 415 million Yen (5.4 million USD). A 150sqm 2-bedroom apartment is priced at around 140 million Yen (1.8 million USD). In the 3 months following the beginning of sales, 90% of the 280 apartments offered for sale have been sold. That includes 50 apartments priced over 100 million Yen (1.3 million USD). This is the first time since 1996 that this many apartments priced over 100 million Yen have been sold in a new condominium in the Kansai area. It appears as though wealthy residents in Osaka have been waiting for a property like this, which is why sales have exceeded expectations.
The third sales period begins in early February
Name: Grand Front Osaka Owner’s Tower
Location: Ofukacho, Kita-ku, Osaka
Transport: Osaka Sta. – 6 mins; Umeda Sta. – 7 mins
Construction: 48 Stories + 1 basement
Construction Companies: Obayashi Corporation and Takenaka Komuten
Completion date: April, 2013
No. of units: 525
Land size: 4665.59 sqm
Land ownership: Freehold
Carparking: 268 spaces