Ginza Theatre Building sold
Tokyo Theatres Company announced that they will be selling the Ginza Theatre Building in Ginza 1 Chome for 17.8 billion Yen (222.5 million USD) to an undisclosed buyer.
The building was sold to improve the financial situation of the company. The future of the company's "Ginza Theatre Cinema" and Hotel Seiyo Ginza which are located in the building are yet to be decided.Read more
New buyer found for Yubari Melon Castle
"Melon Castle", a liquor distilling facility in Yubari City, Sapporo, will be sold to a wholesale/retail company called Base Create. The facilities will be used to package and store goods.
Yubari City had previously agreed to sell the facilities to another buyer, but the sale was canceled in March as the buyer did not make payment. In April, the property was advertised for sale at a reduced starting price of 28,800,000 Yen (360,000 USD). Base Create was the only applicant, and based on their financials and business plan, their offer of 28,900,000 Yen was accepted. The new buyer plans to hire several local residents to help run the facilities.Read more
Ibaraki sells film set to NHK
The Ibaraki Prefecture Development Public Corporation has sold "Warp Station Edo" to NHK Enterprise for 113.4 million Yen (1.4 million USD).
Located in Tsukubamirai City, Warp Station Edo is a park and film set used for many historical-period dramas and movies.
It was built by the Prefecture in 2000 at a cost of 3.2 billion Yen and was first operated by "Media Park Tsukuba" - a joint venture between the Prefecture and the former town of Ina. However, after just two years into the park operations, a total of 800 million Yen in debt was incurred. Operations were then handed over to Daishinto Group, and finally the Prefecture's public corporation took over. The debts continued to grow so the Prefecture decided to sell.Read more
Same day sell-out in Terrace Shibuya Mitake
All apartments made available for sale during the first round of sales for brand new condominium "Terrace Shibuya Mitake" have sold out on the same day.
On March 10, the 90 apartments listed for sale received 197 applications. The average number of applications to apartments was 2.18, and the highest was 13 on one apartment.
Apartments ranged in price from 37.8 to 184 million Yen and the average price is 1,381,000 Yen/sqm (1565 USD/sqft). The average age of the applicants was 49.5 years and their average income was 19 million Yen per year (232,000 USD).Read more
Waterras Tower Residence Sold Out
Apartments in the brand new, luxury high-rise condominium "Waterras Tower Residence" have now been completely sold out, just weeks before the building is scheduled to be completed.
The 41-storey mixed-use building has a total of 333 apartments of which 253 were made available for sale. Prices ranged from 55.8 to 300 million Yen with the average apartment priced at 1,225,000 Yen/sqm. Apartments range in size from 45.14 ~ 146.93 sqm (485 ~ 1581 sqft). Approximately 30% of the apartments were priced over 100 million Yen.Read more
Mitsubishi Estate sells Akasaka Park Bldg
On November 15, 2011, Japan Real Estate Investment Corporation purchased Akasaka Park Building and land for 60.8 billion Yen (779 million USD). The seller was Mitsubishi Estate. The building had an appraised value of 62.5 billion Yen in October, 2011.
The buyer believes that the image of Akasaka has improved over the years, particularly with the development of Akasaka Sacas just behind the building, and are expecting diversified demand from tenants into the future.
Akasaka Park Building was completed in 1993. The 30-storey building has a total floor space of approximately 97,317 sqm and a standard floor area of 2033 sqm. The total size of the land under the building is 14,198.20 sqm.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