100 condominiums in Sendai City need rebuilding
In Sendai City, a condominium that was seriously damaged by the March 11 Tohoku Earthquake is scheduled to be demolished. Sunny Heights Takasago is a 14-storey apartment building with 189 units. The earthquake damaged the foundations and the building began to lean at a dangerous angle, threatening neighboring buildings. Demolition is scheduled to begin by the end of December and should be completed within 6 months. This is the first case in Sendai City of an apartment building of this size being demolished due to the effects of the Tohoku earthquake, but it won't be the last.Read more
SUUMO real estate site opens cafe in Ginza
One of Japan's major real estate listing sites, SUUMO (http://suumo.jp), has recently opened up a promotional cafe in Ginza.
The cafe shares the space of the R25 Cafe on the 1st floor of the Recruit Ginza 7 Chome Building (see google map here). They are selling various sweets and drinks featuring the Suumo character (a green alien) including hot cocoa, muffins and cider. Prices range from 330 - 500 Yen.Read more
Apahome purchases Daikanyama bldg for 4.5 billion Yen
Two buildings in Daikanyama, Shibuya-ku, that were owned by Nara Prefecture were recently sold by auction. The "Daikanyama i Studio" was acquired by ApaHome for approximately 4.5 billion Yen, and the "Tsurumaki Residence" - a former housing complex for Prefecture staff - was acquired by i-nest Co. for 244.5 million Yen.Read more
Sumitomo cancels City Tower Shibaura
Sumitomo Corporation have temporarily (or permanently) cancelled the construction of City Tower Shibaura in Minato-ku. Construction of the 30-storey condominium began in November, 2010, and was scheduled to be completed by March, 2013.
Although foundation work had already began, the ground has since been filled in and returned to its vacant state and all advertising has been removed from the site. Read more
Mori Trust acquires famous Kyoto hotel
Mori Trust announced on November 25 that they had acquired the site of Hotel Rantei in Kyoto from Kyoto Century Hotel for an undisclosed sum.
The traditional Japanese-style hotel has been closed since January, 2010, but will undergo a full refurbishment before being re-opened as a luxury hotel by 2013 - 2014. Once it is opened, they hope to attract wealthy domestic and foreign tourists.Read more
US-based firm acquires two Omotesando buildings
Elliott Management, a US-based fund management firm, has acquired two buildings in prime locations just across the street from Omotesando Hills.
(1) 21st SY Building (fronting Omotesando Avenue and next to the Emporio Armani boutique). The 6-storey building is on a 360 sqm block of land. The 2011 assessed land value (koji-chika) for this site was 9,300,000 Yen/sqm.Read more