High-rise office and apartments for Takeshiba

Tokyo Takeshiba Redevelopment 1

On October 29, Tokyo Land and Kajima Corporation announced plans for high-rise office and residential buildings in the waterfront Takeshiba area in Minato-ku. The project will also provide facilities for trade and content promotion and international expansion. JR Hamamatsucho and Takeshiba Station will be connected via a 500 meter long pedestrian bridge.

The project is expected to be completed in 2019.

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The Parkhouse Grand Minamiaoyama Takagicho to be demolished and rebuilt

The Parkhouse Grand Minami Aoyama

Mitsubishi Jisho Residence announced that they will be demolishing and rebuilding The Parkhouse Grand Minamiaoyama Takagicho* apartment building after serious construction faults were discovered prior to completion. The construction company, Kajima Corporation, is expected to bear most of the reconstruction costs.

Apartments in the 7-storey condominium in Minato-ku were initially priced from 85 ~ 350 million Yen with an average price of 1,400,000 Yen per square meter. 83 of the 86 apartments were already under contract by December when online message boards began to report rumours of some structural issues with the building.

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Minamiaoyama land sold for 13 billion Yen

Meiji Jisho, a company affiliated with Cerberus Capital Management, has sold a 1,916 sqm block of land in Minamiaoyama 3 Chome to Shimizu Corporation. The deal is estimated to be around 13 billion Yen (6,785,000 Yen/sqm). 

The land is currently a parking lot and fronts onto Aoyama Dori Avenue.

An adjoining 2,500 sqm site was sold by the Urban Renaissance Agency (UR) in March 2013 for 5.6 billion Yen (2,240,000 Yen/sqm). It was reported that the buyer was City Index Seven – related to the Murakami Fund. UR’s landholding is more scattered with private roads and a smaller street frontage.

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Developer seeks to cancel contracts in luxury Aoyama apartment building after fault discovered

The Parkhouse Grand Minamiaoyama TakagichoMitsubishi Jisho Residence is currently in the process of cancelling sale contracts on apartments in The Parkhouse Grand Minamiaoyama Takagicho after a construction fault was discovered.

Just before Christmas in 2013, an anonymous post on an online discussion board mentioned that there had been some core drilling into the concrete. Drilling holes in concrete to take core samples usually indicates a potentially serious problem.  Adding to suspicions, Mitsubishi removed the sales page for the project and removed any mention of the new building from their website a few days later. The building still had 3 apartments left for sale.

The message boards lit up with comments from concerned buyers who were desperate for an official response from Mitsubishi.

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Buildings in Minato-ku to be designated as tsunami-evacuation points

Selected buildings in Tokyo’s Minato ward will be soon be designated as tsunami-evacuation points. Negotiations are underway between the local city council and 16 companies who own buildings of 10-storeys or higher. Approximately 36.5 million Yen has been set aside in the City’s budget.

Several commercial and residential buildings in Arakawa-ku and Koto-ku have already received designations. While Arakawa-ku provided some assistance with the purchase of emergency supplies and rations, Minato-ku will provide all necessary supplies to the co-operating buildings. They are also considering providing assistance with any upgrades to building security so that they may be accessible to evacuees in an emergency situation.

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Tokyo City buys government lodgings for 10 billion Yen

The Kanto Local Finance Bureau has announced the sale of the former lodgings for the members of the House of Representatives in Minato-ku to Tokyo City.

According to ‘rosenka’ land valuations, the value of the sale has been estimated at over 10 billion Yen (125 million USD), and the expected proceeds will go towards reconstruction following the Tohoku disaster.

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