Bankrupt Matsubishi Dept Store to be demolished
Demolition preparation work has started on the Matsubishi Department Store in Hamamatsu City, Shizuoka Prefecture. The building is expected to be completely demolished by the end of July, 2012.
The total cost is expected to reach 500 ~ 600 million Yen and will be shared amongst the landholders, which include Asahi Corporation.
The main building of the Matsubishi Department Store was completed in 1936. It suffered damage but miraculously survived the bombing of Hamamatsu in WWII which destroyed 60 percent of the city. Later, in 1956, the store was home to the first escalator in Shizuoka Prefecture.Read more
Sky Tower 41
Sky Tower 41 is a high-rise residential building located on the outskirts of Kaminoyama - a city of 33,000 residents in Yamagata Prefecture. The 41-storey tower looks out of place amongst the fields and countryside.Read more
Apartment rent falls again in November
According to Tokyo Kantei, the average apartment rent in Japan's three largest cities fell again in November.
In greater Tokyo, the average monthly rent fell 0.7% from the previous month to 2533 Yen/sqm. This is the fourth month of continual decline. In Tokyo City, rent fell by 0.6% to 2924 Yen/sqm. Kanagawa Prefecture saw the average monthly rent rise by 1.1% to 2044 Yen/sqm.Read more
New plan requiring land risks to be explained before sale
The Japan Association of Home Suppliers has announced plans to require a site geography and history report to be presented to the buyer prior to the sale of a home.
There are approximately 100 home builders who are members of the Association. The committee chairman, also company president of Mita Housing, said that following the Tohoku disaster they had received an increasing number of inquiries from clients concerned about the liquefaction risk and strength of the ground. He believes that providing a geography and history report for each property would provide help to ease the concerns of buyers. Mita Housing is about to introduce this new reporting system into their own business, and many other real estate companies also have plans to do so.Read more
Kengo Kuma designs Starbucks store
Japanese modern architect, Kengo Kuma, has designed a Starbucks Coffee store for Dazaifu City, Fukuoka Prefecture. The new store is located along the road that leads to the Dazaifu Tenmangu Shrine and is scheduled to open on December 16, 2011.Read more
Nomura's Proud Tower Shinonome sells out on 1st day of sales
In what appears to be good news for developers on Tokyo's bay area, all of the apartments in Nomura Real Estate's Proud Tower Shinonome Canal Court that went on sale this Monday received purchase applications on the same day.
The 52-storey, 600 unit residential tower is located on a reclaimed island on Tokyo Bay, an area that suffered from a drop in popularity following the March 11 Tohoku disaster due to its liquefaction risks.Read more