JVC sells Victor Studio land in Jingumae
JVC Kenwood Holdings sold the land underneath their Victor Studio building in Jingumae 2 Chome to a real estate company. JVC will lease the land from the new owner and continue to operate from the building.
Victor Studio was opened in 1969 and is used by many recording artists including Southern All Stars and Smap.
The land was sold for approximately 3 billion JPY (~USD 37 million as of October, 2010). The land will be leased by JVC and they will also retain rights to the building. The company has been liquidating their assets, and also sold a building and land in Yokohama.
The google map location for the land in Jingumae is here.
Source: Asahi Shimbun, October 27, 2010