Pembroke’s latest project in Roppongi
Pembroke Real Estate Japan have started the construction of a 14-storey office building in located across the street from Tokyo Midtown in Roppongi 7 Chome. Try-Seven Roppongi is scheduled for completion in 2016. The exterior was designed by Jun Mitsui & Associates Architects.
A shrine and shrine office on an adjoining 876 sqm block of land will also be redeveloped in conjunction with Try-Seven.
This is the fourth development for Pembroke. In 2002 they developed Hikawa Gardens, a rental apartment building in Akasaka, and in 2010 they completed Azabu Gardens, a luxury expat rental building near Roppongi Hills.
Sources:
The Asahi Shimbun, October 28, 2014.
The Daily Engineering & Construction News, October 29, 2014.
Former Governor’s Residence in Shoto up for sale again
The former official residence of the Governor of Tokyo in Shoto, Shibuya-ku, is going back on the market next month with a minimum bid price set at 3.51 billion Yen. This is the third time the property has been listed for sale, but is the first time that bidding is open to the general public. Previous attempts were limited to foreign governments looking for embassy locations.
It was originally listed in 2008 with a minimum bid set at 4.8 billion Yen. It was listed again in 2013 seeking offers over 3.3 billion Yen.
Applications for bidding will be open from December 15 ~ 19, with bids to be submitted and opened on December 24, 2014. The successful bidder must be prepared to complete settlement by March 23, 2015.
Tokyo apartment sales in October 2014
The following is a selection of apartments that were sold in central Tokyo during the month of October 2014:Read more
Mori Trust announces plans for high-rise office and hotel in Toranomon
On October 23, Mori Trust announced plans for a 180m mixed-use building for the former Toranomon Pastoral building site in Toranomon 4 Chome.
The 36-storey building will contain a hotel, serviced apartments, office and retail space. Construction is scheduled to begin in 2015 with completion by 2018. The new building will be approximately 500 meters from the proposed new station along the Hibiya Line.Read more
Major redevelopment planned for Yaesu district
In 2015, Mitsui Fudosan and Tokyo Tatemono will begin several large-scale redevelopment projects for the Yaesu district to the east of Tokyo Station. The project will include three buildings containing apartments, offices, retail space, education and cultural facilities.
Planning approval is expected to be announced next year. It is anticipated that the project will qualify for an allowance to the floor space index, which would a total floor area up to 1 million sqm (10.7 million sqft).
One of the features will be an underground bus terminal. While the Marunouchi district to the west of Tokyo Station has seen some very large redevelopment projects over the past few years, the Yaesu area has been lagging behind. The bus terminal currently located at the Yaesu Exit at Tokyo Station is relatively inconvenient, especially for passengers transferring to trains. By locating the terminal underground, it will offer direct access to the underground station area.Read more
Secondhand apartment prices in September 2014 - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 42,160,000 Yen in September, up 0.5% from the previous month and up 4.3% from last year. The average apartment age was 22.5 years.
In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 59,160,000 Yen, up 1.0% from the previous month and up 9.5% from last year. The average apartment age was 21.8 years.
The average price across greater Tokyo was 28,230,000 Yen, up 0.3% from the previous month and up 1.2% from last year. The average apartment age was 21.8 years.Read more