Sony to demolish iconic Ginza building in 2017
The 50-year old Sony Building in Tokyo’s Ginza area will be demolished in 2017 to make way for a temporary park, and finally a replacement building by 2022.
The building sits on a prime 700 sqm (7,500 sq.ft) corner block of land just 180 meters from the historic Wako Building and the Mitsukoshi Department Store. The land is used as one of the government’s chika-koji annual land survey sites. In 2016, the land had a surveyed value of 34,700,000 Yen/sqm (approx. 31,000 USD/sq.ft), which would make the 700 sqm site valued at approximately 24.5 billion Yen (approx. 235 million USD). The valuation was up 18.03% from 2015, and has increased by a staggering 151% since 2002. Read more
Central Tokyo's first 5-storey wooden building completed
Last month, Mitsui Home completed the construction of a 5-storey wood-frame building in Ginza.This is the second 2x4 wood-framed 5-storey building to be built in Japan, and is the first in central Tokyo. In April 2012, a 5-storey apartment building was competed in Setagaya-ku.Read more
81-year old building in Ginza saved from demolition
A historic brick building fronting Ginza's Showa Dori Avenue has been saved from demolition after the new owner had a change of heart and scrapped his redevelopment plans in favour of restoring the 81 year old building.Read more
Konami acquires Hotel Seiyo Ginza building
Gaming company Konami Corporation have purchased the Hotel Seiyo Ginza building from Tokyo Theatres for 17.8 billion Yen (180 million USD). Konami plans to convert the hotel into commercial space to be used as gaming development offices. Some of their 3,000 staff in Roppongi will relocate to the Ginza location. They will also develop event spaces which can be used to hold gaming conventions.
The 12 storey building has a total floor area of approximately 19,000 sqm (204,000 sqft) and is on a 2254 sqm block of land. The hotel was opened at the beginning of Japan's bubble in 1987. The 77-room hotel was the first in Japan to offer concierge services. In 2000, Seiyo Corporation filed for bankruptcy and the building was sold to Tokyo Theatres Co. Read more
Matsuzakaya Ginza Department Store to close after 89 years
The Matsuzakaya Ginza Department Store will close its doors on June 30 as the site it occupies is going to be redeveloped.
The department store opened in Ginza the year following the Great Kanto earthquake of 1923, and is the oldest department store in the famed shopping district. At the height of Japan's bubble in 1990, annual sales reached 54 billion Yen. However, revenues began to drop due to growing competition from other department stores, including Mitsukoshi, Matsuya and Printemps Ginza, and an influx of fast fashion retailers. By 2013, sales were down to 10.2 billion Yen. Read more