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

Office vacancy rates in September - Miki Shoji

PMO Kanda TsukasamachiAccording to Miki Shoji's office report, the vacancy rate in Tokyo's 5 central business districts (Chiyoda, Chuo, Minato, Shinjuku and Shibuya) was 7.90% in September, down 0.26 points from last month and down 1 point from last year. This is the third month in a row where rates have fallen. It is the first time since November 2009 that vacancy rates have been in the 7% range.

The vacancy rate in new buildings was 18.12%, up 0.19 points from last month but down 11.50 points from September 2012.Read more

by Zoe Ward

Residential yields and vacancy rates in Minato-ku - October 2013

According to real estate listing site Homes, the average yield on an apartment in Minato-ku in October was 5.8%, down 0.2 points from last month. The average yield across Tokyo was 7.7%, down 0.2 points from September.Read more

by Zoe Ward

New 44-storey apartment building for Akasaka

Akasaka 9 Chome North District Redevelopment 2
The original design, which has since been changed.

The Akasaka 9 Chome North District Redevelopment is scheduled to begin construction in October 2014 with completion in March 2017. The project will include a 44-storey 170m tall residential building with 330 apartments.

The developer is Mitsui Fudosan Residential, so if this becomes a condominium (rather than a rental-only building) then it could possibly be branded as one of their 'Park Court' series of apartments. Read more

by Zoe Ward

Tokyo City Hall facing 76 billion Yen repair bill

Tokyo Metropolitan Government BldgThe 22-year old Tokyo Metropolitan Government Building (aka Tokyo City Hall or 'Tocho') in Shinjuku is facing a large-scale maintenance and repair bill estimated to cost 76.2 billion Yen (approximately 783 million USD).

Designed by architect Kenzo Tange, the government building was completed in 1991 at a cost of 156.9 billion Yen. The 243m tall building was once the tallest in Japan. Read more

by Zoe Ward

Akasaka 1 Chome Redevelopment to begin in January

Akasaka 1 Chome Redevelopment 1Nippon Steel Kowa Real Estate have received approval from the governor of Tokyo to convert the ownership rights as part of their Akasaka 1 Chome Redevelopment.

The 16,000 sqm site is adjacent to Tameikesanno Station and across the street from the US Embassy in Akasaka. The project was approved in August 2012.

Demolition of the existing buildings is expected to begin in January 2014 with construction starting in August. Completion is expected by April 2017.Read more

by Zoe Ward