Brand new retail/commercial building for sale in Shibuya

SOLD
Gross yield: –Occupancy: –

*Update: This property is no longer available*

This is a brand new retail building for sale in Shibuya offering immediate cash flow. The 3-storey concrete building was completed in September 2015 and is fully leased to a sub-leasing company for 1,389,710 Yen per month. The sale is for the tenanted building and the freehold land.

There are three separate spaces, each with their own entrance. Each floor has a ceiling height of 3.5 meters, much higher than the 2.4 ~ 2.6 meter ceilings found in most normal buildings. There is also a rooftop terrace for entertaining, which is accessible via the retail/office space on the 2nd and 3rd floors. The interiors are bare for tenants to fit out.

It is located halfway between Omotesando and Shibuya Stations, and is 30 meters behind the busy Aoyama Dori Street. The surrounding area is a mix of office, retail, restaurants, cafes and residential, but is primarily a commercial area. It is 200 meters from the offices of Conde Nast, Yves Saint Lauren and Alexander McQueen.

The land is zoned commercial. A commercial zoning generally allows for offices, banks, cinemas, restaurants, department stores, houses, apartments, hotels, warehouses and small factories, unless otherwise prohibited.

The entire building is leased to a sub-leasing company who is then advertising the spaces for rent. The three units are advertised for rent on the open market for:

  • B1F (37.69 sqm): 455,000 Yen/month
  • 1F (31.63 sqm ): 457,000 Yen/month
  • 2-3F (84.79 sqm): 803,600 Yen/month

The sub-leasing company is paying the owner of the property 1,389,710 Yen per month in rent.

The land size is 59.03 sqm (635 sq.ft) and the total building size is 201.47 sqm (2,168 sq.ft) with a leasable area of 154.11 sqm (1,658 sq.ft). The building footprint ratio is 80% and the building volume ratio is 500% (reduced to 367.8% due to road width).

Land at a nearby survey site (Shibuya 2-6-12) had a chika-koji government value of 1,670,000 Yen/sqm in 2015, up 3.09% from 2014. Land prices have not recovered to the levels seen during the last mini-bubble of 2007 ~ 2008, although in some locations they  are currently higher than they were in 2005.

Shibuya 2-6-12

Another survey site (Shibuya 2-9-9) located 45 meters away but fronting Aoyama Dori Street had a standard land price of 4,050,000 Yen/sqm in 2015, up 8.29% from 2014. The chika-koji price for the same survey site was 3,820,000 Yen/sqm in 2015, up 4.66% from 2014.

Shibuya 2-9-9

The Shibuya Station area is undergoing an enormous redevelopment and transformation due for completion in stages from 2018 ~ 2027. The project started with the mixed-use office and retail building, Hikarie, which is 500 meters from this retail building.

Shibuya Station Redevelopment

Notes:

* Price is inclusive of consumption tax.

* No onsite parking, although there may be short-term parking options in the area.

* The gross yield is based on the current asking price. The rent is current at the time of publication but is subject to change. Japan Property Central, K.K. provides no guarantee of future rent or yield.

* Standard land prices and chika-koji land prices are government valuations and indicate movements in the market, but are not the same as market prices. In many cases they are below actual market prices.

 LOCATION

2-8-12 Shibuya, Shibuya-ku, Tokyo

Shibuya Station – 7 minute walk

Omotesando Station – 6 minute walk

  • Aoyama Dori Street: 30 meters
  • United Nations University: 200 meters
  • Miyamasuzaka Street: 260 meters
  • Shibuya Hikarie: 500 meters
  • Shibuya Crossing: 700 meters
  • Aoyama Gakuin University: 180 meters
  • Omotesando Crossing: 700 meters
  • Omotesando Hills: 1,000 meters
 INQUIRE

If you would like more details on this property, please contact us using the inquiry form below. Your details will be kept strictly confidential and will not be used for any mailing or marketing purposes.

*Japan Property Central, K.K. is a fully licensed real estate agency. We are able to assist buyers with the purchase of this property or similar ones. Our fees to buyers are 3% + 60,000 Yen + consumption tax.

Transaction type: Brokerage.

Disclaimer:
All information contained herein is gathered from sources we believe to be reliable. However we cannot guarantee its accuracy and interested persons should rely on their own enquiries.
All care has been taken in preparing this floor plan, however the accuracy is not guaranteed and no liability will be accepted for any reliance placed upon it. In the event of any conflict between the floor plan and actual conditions, the latter shall prevail. Dimensions are approximate.

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