Minamiaoyama land sold for 13 billion Yen

Meiji Jisho, a company affiliated with Cerberus Capital Management, has sold a 1,916 sqm block of land in Minamiaoyama 3 Chome to Shimizu Corporation. The deal is estimated to be around 13 billion Yen (6,785,000 Yen/sqm). 

The land is currently a parking lot and fronts onto Aoyama Dori Avenue.

An adjoining 2,500 sqm site was sold by the Urban Renaissance Agency (UR) in March 2013 for 5.6 billion Yen (2,240,000 Yen/sqm). It was reported that the buyer was City Index Seven - related to the Murakami Fund. UR's landholding is more scattered with private roads and a smaller street frontage.

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by Zoe Ward

Land in Tokyo Disney Resort sold for 9.3 billion Yen

Oriental Land Co., Ltd. have acquired a 23,000 sqm site within the Tokyo Disney Resort for 9.3 billion Yen (404,350 Yen/sqm). The seller is the Dai-ichi Life Insurance Company - a major shareholder in Oriental.Read more

by Zoe Ward

The Naked Island in Hiroshima for sale

Sukune Island Hiroshima 2Sukune Island will go up for public auction in February. The uninhabited island was featured in the internationally acclaimed 1960 film 'The Naked Island'. The director, Kaneto Shindo, passed away in 2012 and associates and fans of the actor are looking for donations to purchase the island to honour his memory.Read more

by Zoe Ward

British Govt to return 20% of Tokyo Embassy land to Japan

British Embassy Tokyo 2The 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.

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by Zoe Ward

Land prices up in 71% of locations - MLIT LOOK Report

The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) published the data on land price movements across Japan for the third quarter in 2013 (July 1 ~ October 1).

The Chika LOOK Report measures land price changes in 150 locations throughout Japan. According to the latest data, 107 locations (71.3% of the total) saw an increase in land prices. This is higher than the last quarter which saw 99 locations with an increase in land prices. 34 locations (22.7%) saw no change in prices, while 9 locations (6%) saw a fall in land prices.Read more

by Zoe Ward

Shoto Noh Theatre may be on the market

Shoto Kanze Noh TheatreThe owners of the Kanze Noh Theatre in Shoto, Shibuya, are looking into selling the building and land. The head of Yodobashi Camera is a possible buyer, having reportedly expressed an interest to redevelop the property into a private guest house to accommodate his foreign visitors.Read more

by Zoe Ward

Secondhand apartment prices in Tokyo City up 8.1%

According to REINS, 1,559 second-hand apartments were sold in Tokyo City in September, up 21.2% from September 2012 and up 41.1% from the previous month. A total of 3,123 second-hand apartments were sold across greater Tokyo for the month, up 12.5% from last year.

The average sale price across greater Tokyo was 26,540,000 Yen, up 6.5% from last year and up 3.8% from August. The average price per square meter was 409,500 Yen, up 8.7% from last year and up 2.3% from August.Read more

by Zoe Ward