On August 26, apparel company Onward Holdings announced the sale of two properties in Tokyo’s Minato and Shibuya wards.
One of the properties is 1,665 sqm of land in Daikanyama. It currently houses retail and office space above. The property will be sold for 7 billion Yen (approx. US$63.7 million), which works out to around 4.2 million Yen per square meter based on the land size.
The property in Minato ward is 4,720 sqm of land underneath the Onward Shibaura Building in the Kaigan district. It was sold to real estate giant Hulic for 11.5 billion Yen (approx. US$104.7 million).
Both transactions were for the land only.
Earlier this year the company sold land and buildings in Shibuya and Nagoya. In November 2020, the company’s warehouse and logistics center in Kaigan was sold to Sumitomo Realty & Development for 7.8 billion Yen.
In late 2019, a company-owned house on 1,687 sqm of land in Minami Aoyama was reported to have sold for 3.81 billion Yen (approx. US$36 million at the time).
Source: Onward Holdings Press Release, August 26, 2021.
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