The East Annex Building of the Takashimaya Department Store in Osaka’s Nipponbashi district may soon be refurbished and converted into high-end serviced apartments catering to foreign visitors.

Takashimaya is expected to enter into an agreement with major Singapore developer CapitaLand later this year.

The 7-story Renaissance-style building has a total floor area of 40,000 square meters (430,000 sq ft). It was was originally the Matsuzakaya Osaka Department Store and was built over two stages between 1934 and 1937. In 1966 it was sold to Takashimaya and has since been used as their office and archives.

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