Son sells Tiffany Building in Ginza
As part of their expansion in investment in the Ginza district, real estate company HULIC has acquired the Tiffany Ginza Building from SoftBank CEO Masayoshi Son this month. This was a joint purchase with Fuyo General Lease, a Mizuho Financial Group company.
Ginza office floor sale sees price more than double within a year
Shioi Kosan, the private asset management company for fast-food bento maker Hotto Motto, has paid 25 billion Yen (approx. 230 million USD) to acquire the 8th floor of the Ginza Six retail and commercial building in Tokyo’s Ginza district. The sale price is more than double the price that the floor sold for 7 months prior.Read more
Land in Ginza to sell for 64 million Yen (570,000 USD) per square meter
Articles appearing in both the Nikkei Business Publication and the Business Journal have suggested that a block of land (with building) alongside Ginza’s main shopping street will be sold for a record price of up to 64 million Yen per square meter (approx. 570,000 USD/sqm or 53,000 USD/sq ft).
Land in Ginza sells for 43 million Yen/sqm
In August, railway operator Hankyu Corporation acquired a block of vacant land in Ginza for 13.5 billion Yen (approx. 132 million USD). The purchase price worked out to be approximately 43,700,000 Yen per square meter (40,000 USD/sq.ft), or around 4,500,000 Yen per buildable square meter (4,100 USD per buildable square foot) based on a potential 3,000 square meter building.
The 308.88 square meter (3,323 sq.ft) corner block of land is located alongside Namiki Dori Avenue. It was originally the site of the 10-storey Tokyo Chusha Building, which had a total floor area of 3,000 square meters (32,280 sq.ft). The building was demolished in 2015.
Read more
Same-day sellout in The Parkhouse Higashi Ginza
All 28 apartments offered during the first round of sales in Mitsubishi Jisho Residence’s The Parkhouse Higashi Ginza sold out on the same day.
The 13-storey apartment building is located a 1 minute walk from Shintomicho Station and is 700 meters from Ginza’s Chuo Dori Street. Apartments range in size from 70 ~ 81 sqm (753 ~ 872 sqft) and are all 3-bedrooms. Prices ranged from 74 ~ 108 million Yen (640,000 ~ 920,000 USD), with an average price of around 1,240,000 Yen/sqm.
The sales office received 1,587 inquiries and had 276 groups visit the showroom. Each apartment received an average of 1.9 purchase applications, with the most popular apartment receiving 5 applications. The lucky buyers were selected via a lottery-type system.Read more
TEPCO sells Ginza building for 23.4 billion Yen
The Tokyo Electric Power Company (TEPCO) have sold a building and land in Ginza 3 Chome to the Yomiuri Shimbun newspaper company for 23.455 billion Yen (240 million USD).Read more