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.
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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
Open Residencia Ginza 2 Chome
Price when new: 40.9 ~ 67.1 million Yen (1,635,000 Yen/sqm)
Size range: 25.11 ~ 40.97 sqm (270 ~ 441 sqft)
Area: Ginza, Chuo-ku
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Open Residencia Ginza 2 Chome is a 10-storey compact-style residential building located 200 meters from the Chuo Ward Office. It is 700 meters from the Ginza 4 Chome Intersection, but the immediate area around this property is primarily a crowded and old district. It is also 110 meters from Wellith Ginza 2 Chome. 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