Shibuya City Office redevelopment to include new apartments
The redevelopment of the ageing Shibuya City Offices will include a 37-storey apartment building with 414 apartments.
Part of the development site will be leased to a developer on a 70-year term. The revenue from the leasehold is expected to cover the costs of the city office redevelopment. Five developers are bidding for the project, and the final decision will be made in the next few months.Read more
Tokyo Governor's Residence fails to sell
The unused official residence of the Govenor of Tokyo again failed to attract any bids during its second time on the market.
The 2-storey residence was built at a cost of 1.2 billion Yen in 1997 but was only occupied for a little over a year. It was first listed for sale in 2008 with a minimum price of 4.8 billion Yen, but did not attract any offers. It was listed again in 2013 seeking offers over 3.3 billion Yen.Read more
Shibuya Station area redevelopment to include residential component
Details of the Shibuya Station Sakuragaoka Entrance Redevelopment were recently made announced. As part of the major redevelopment of the Shibuya Station redevelopment, the Sakuragaoka Entrance Redevelopment located to the south-west side of the station will include two office buildings and a 32-storey mixed-use residential/commercial building. Read more
British Govt to return 20% of Tokyo Embassy land to Japan
The British Embassy in Tokyo is going to become a little smaller next year as the British government has decided to return a portion of the land.
The embassy is sprawled across a 35,000 sqm (376,600 sqft) estate just west of the Imperial Castle in Chiyoda-ku. The land has been leased by the British government since 1872. The US and Spain are the only other countries that lease their embassy land in Tokyo from the Japanese government.
Large-scale resort/apartment complex planned for Yokosuka
After sitting idle for almost 25 years, a large-scale resort/apartment complex may finally be built at the eastern side of the City Marina Velasis in Yokosuka. The 8 hectare site was once the Sumitomo Heavy Industries Kawama Factory and ship building yards.
In 1989, Sumitomo's SHI Resort Development planned to build a 700-unit resort condominium complex, but the collapse of the property bubble put their plans on indefinite hold. Sumitomo later sold the land and yacht harbour to Unimat. In 1993, approval was granted to built the Velasis Uraga apartment blocks which were completed in 2001. There were also plans to develop the eastern side, but construction stalled over 10 years ago and the land has remained vacant.Read more