Long-established confectioner Yoku Moku has acquired a commercial building across the street from their flagship Aoyama store.
Named Schloss Aoyama, the 4-story retail and office tenant-building was built in 1988. It is just a 4-minute walk from Omotesando Station and is situated just down the street from Prada, MIU MIU, Stella McCartney, and Balenciaga.
It sits on approximately 400 sqm of land. The land underneath the MIU MIU boutique had a government assessed land value of 12,800,000 Yen/sqm as of January 2020. The Prada Boutique building across the street from MIU MIU was acquired by Prada in 2015 with a mortgage of 36 billion Yen (approx. 320 million USD at the time). It sits on a little over 847 sqm of land. The Woolrich store behind Prada was purchased by the Japan Retail Fund Investment Corporation in late 2018 for 12.2 billion Yen (approx. 108 million USD) at the time.
Source: Nikkei Business Publications, October 30, 2020.
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