Chiyoda-ku office bldg sold for 50 billion Yen
Tokyu Land, the Development Bank of Japan (DBJ) and Kenedix have purchased the former head office of the Shinsei Bank in Chiyoda-ku from a Morgan Stanley fund for 50 billion Yen (605 million USD) - less than half what Morgan Stanley paid for it in 2008.
The new owners plan to demolish the 19-year old building and replace it with a new one. The total cost of the project, including purchasing the existing building, is estimated at 80 billion Yen (970 million USD).
Demolition will commence in 2013 and the new 20-storey building will be completed in 2017. The new building will have a total floor area of 57,500 sqm, and will be almost the same scale as the current building, which is 60,000 sqm. However, the new building will have more leasable floor space.Read more
Residents told they are 'on their own' in a major earthquake
Residents of The Tokyo Towers - a 58-storey condominium complex in Chuo-ku's Kachidoki bayside area - attended an information session on disaster preparedness held by the building's management committee in October. Following the Tohoku earthquake, the committee have been looking at revising their disaster manual.
Mr. Motose, who is in charge of disaster management in the committee, informed residents that they may be without electricity and elevators in the event of a major earthquake, and should prepared to have enough supplies to last a month.
Residents were also told of possible ways the building could be affected in an earthquake. Read more
Sales in Park Court Chiyoda Fujimi The Tower start today
Mitsui Fudosan Residential begin sales of apartments in Park Court Chiyoda Fujimi The Tower today. The 40-storey building will be completed by the end of March, 2014, and apartments will be ready to move into by the following July.Read more