Chiyoda-ku office bldg sold for 50 billion Yen
December 7, 2012Demolition,New Construction,Real Estate News,All,Commercial Real Estate
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
Google to take interior images of tsunami-hit buildings
December 4, 2012Tohoku,Iwate Prefecture,Fukushima PrefectureDemolition,All
Last month Google began to take interior photos of buildings in the Tohoku region that are scheduled to be demolished after suffering damage in last year's disaster.
Google started in Kamaishi in Iwate Prefecture on November 13. They will take 360-degree photos of 32 places across Iwate and Fukushima Prefectures and publish them on Google Maps from December.Read more
Office building to be torn down after 2 years
November 28, 2012Midosuji Front TowerDemolition,Office/Retail News & Information,Real Estate News,All,Osaka
This would set a record for one of the shortest lived office buildings in Japan. Only two years after completion, a high-rise office building near Osaka's Umeda area is now facing a threat of demolition.Read more
New apartment supply in greater Tokyo down 14% in October
November 26, 2012Real Estate News,Market Information,All
The total number of new apartments released for sale in greater Tokyo (Tokyo, Kanagawa, Chiba and Saitama) in October fell 14.4% from the year before to 2,887 units. This is the second month of decline after September's fall of 9.3%.
The most notable decline was in Tokyo's 23 wards, which saw a drop of 25.7%. According to local real estate agents, concerns over future economic conditions have possibly led to a drop in the number of high-priced apartments released for sale.Read more
Mitsui buys development site in Harumi for 9 billion Yen
November 23, 2012HarumiLand,New Construction,Real Estate News,All
Mitsui Fudosan Residential have purchased a 8,800 sqm block of land in Harumi 2 Chome from the Tokyo Metropolitan Government for 9 billion Yen (109 million USD). The price works out to approximately 1,023,000 Yen/sqm.
Mitsui recently purchased a 10,200 sqm site on the eastern side of this block from Taiheiyo Cement for 8 billion Yen. Although they have not yet decided on development plans, there is a chance that they will combine the two blocks and built a large-scale residential tower.Read more
Residents told they are 'on their own' in a major earthquake
November 16, 2012The Tokyo TowersAll
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
November 10, 2012Park Court Series,Chiyoda-ku,IidabashiNew Construction,Real Estate News,All
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