Renovation company Haptic Co. collaborated with interior design and furnishing company Idee to convert a 24-year old office building in Nihonbashi into residential apartments.
The 7-storey Nihonbashi M&K Building was built in 1989. The owners of the ageing building were having difficulty attracting commercial tenants. Converting the building to residential use was less than a third of the estimated cost of rebuilding.
The first two floors will remain as offices, while floors 3 to 7 have one apartment on each floor.
Apartments have solid wood floors, built-in shelving and exposed ceilings.
The one and two bedroom apartments are between 75 ~ 80 sqm (807 ~ 861 sqft) in size and can be rented from between 182,000 ~ 212,000 Yen per month.
Haptic plans to convert up to 10 buildings each year. By converting older and small-scale office buildings to apartments, landlords can improve occupancy rates and achieve a better rental return.
Source: AtPress, July 29, 2013.
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