Hulic have purchased the Nishi Shibuya Tokyu Building (aka the Tokyu Hands Shibuya Store) from a Tokyu-related company for 10 billion Yen (101 million USD). Hulic plan to redevelop the site when Tokyu's lease expires in 10 years.
The current building is 10 storeys with a total floor area of 13,000 sqm. It is on a 1,800 sqm block of land in the middle of Shibuya's retail precinct. It was originally owned by Tokyu Fudosan Group, but sold to a related fund in 2006 for 14 billion Yen.