Apple Store Ginza Building to be demolished

The building housing the Apple Store Ginza will be demolished later this year. In 2003, this was the first Apple Store to open in Japan.

The Sayegusa Building was built in 1967 and is 8-story with a total floor area of 3,940 sqm (42,400 sq.ft). 

Demolition is scheduled to start this September. It will be replaced with a new 50m tall, 10-story building with a total floor area of 4,001 sqm (43,000 sq.ft) by late 2024. The building will have retail and office space. It sits on a 451 sqm corner site that fronts onto Chuo-dori Avenue. 

Ginza’s government assessed land values dropped between 1 ~ 2.5% in 2022, but are still as much as 96% higher than they were 10 years ago and 258% higher than they were 20 years ago. The Sayegusa Building is just along the street from the Yamano Music Building which sits atop the most expensive valued land in Japan with a government land value of 53,000,000 Yen per square meter (US$39,000/sq.ft) in 2022.  

Sources:
The Nikkei Shimbun, March 3, 2022.
IT Media News, December 8, 2021.

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