Former apartment building in Omotesando to be redeveloped into retail
The vintage Minami Aoyama 571 apartment building in Omotesando has been demolished to make way for a retail store. The former building was privately developed in 1988 with 4 apartments over 4 floors. Back in early 2015 a full floor apartment was listed for sale for approximately 270 million Yen - a relative steal since it included a 130 sqm share of the land. Unfortunately several of our clients passed on this opportunity. Not long after, the apartment owners appear to have sold the building and land at an undisclosed but potentially attractive price. It was demolished several months ago by the new owner - a large real estate developer.
Tokyo to buy National Children’s Castle
The Tokyo Metropolitan Government is in talks to buy the National Children’s Castle building and land in Shibuya from the national government. The once popular arts and entertainment complex closed its doors in 2015, ending 30 years of operations.Read more
Minami Aoyama 4-15 House
| SOLD | 4 Bedrooms + 2 Bathrooms + 1 Car space Minami Aoyama, Minato-ku, Tokyo |
| ABOUT |
*This house sold in December 2018 and is no longer available*
This is a contemporary 4-Bedroom home in the Minami Aoyama 4 Chome neighbourhood near Omotesando Station.
The 3-storey, reinforced-concrete house includes a car space, open-plan kitchen, master bedroom with its own private bathroom and walk-in closet, and a rooftop terrace with views over the surrounding neighbourhood.
The house was previously leased to a tenant for 770,000 Yen/month. *Past rent is not a guarantee future achievable rent.
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Norges Bank acquires 132.5 billion Yen in real estate in Omotesando/Harajuku in JV
Norges Bank Real Estate Management (NBREM), part of Norway’s sovereign wealth fund, will acquire a 70% stake in a 132.5 billion Yen (approx. 1.17 billion USD) portfolio of real estate in Tokyo along with partner Tokyu Land. This is NBREM’s first investment in Asia.Read more
Minami Aoyama Masters House 8-9F
| 1-Bedroom + 1 Bathroom, 75.91 sqm Minami Aoyama, Minato-ku, Tokyo |
SOLD |
| ABOUT |
*This property sold in June 2016 and is no longer available*
Minami Aoyama Masters House is a 9-storey apartment building located across the street from the Aoyama Cemetery. Features include concierge service and a 24hr caretaker.
This is a maisonette-style 1-Bedroom penthouse apartment on the 8th and 9th floors. It is east facing and has views over the Aoyama Cemetery and towards Roppongi Hills and Midtown. It includes an open kitchen, living room with vaulted ceiling, walk-in closet, storage closet, under-stair storage, view bath, and a separate guest toilet.
The land ownership share for this apartment is approximately 22.78 sqm.
The building is managed by Marubeni Community. On-site car parking can be rented separately from 39,000 ~ 46,000 Yen/month.Read more
Brand new retail/commercial building for sale in Shibuya
| SOLD | |
| Gross yield: - | Occupancy: - |
*Update: This property is no longer available*
This is a brand new retail building for sale in Shibuya offering immediate cash flow. The 3-storey concrete building was completed in September 2015 and is fully leased to a sub-leasing company for 1,389,710 Yen per month. The sale is for the tenanted building and the freehold land.
There are three separate spaces, each with their own entrance. Each floor has a ceiling height of 3.5 meters, much higher than the 2.4 ~ 2.6 meter ceilings found in most normal buildings. There is also a rooftop terrace for entertaining, which is accessible via the retail/office space on the 2nd and 3rd floors. The interiors are bare for tenants to fit out.
It is located halfway between Omotesando and Shibuya Stations, and is 30 meters behind the busy Aoyama Dori Street. The surrounding area is a mix of office, retail, restaurants, cafes and residential, but is primarily a commercial area. It is 200 meters from the offices of Conde Nast, Yves Saint Lauren and Alexander McQueen.Read more
Omotesando: A look at the market and current sale listings
Omotesando is one of the most sought-after retail and residential addresses in Japan, and is the most in-demand location for our clients. It has a vibrant cafe and shopping scene, while also offering laid-back, quiet neighbourhoods filled with a mix of old and new homes, small boutiques, galleries and restaurants.
Unfortunately, being the most popular location means that supply is very limited, and becoming part of Japan's most fashionable neighbourhood means buyers are up against a lot of strong competition. Earlier this year a low-rise condominium in Minami Aoyama 5 Chome went on sale. The 20 apartments offered for sale received 193 offers from buyers, with one apartment receiving 63 offers. Apartments had an average price of around 2,300,000 Yen/sqm when new. The building, The Parkhouse Gran Minami Aoyama, is still under construction and will be completed in late 2016.
Pricing
Residential land in Omotesando ranges from 1,500,000 ~ 2,500,000 Yen/sqm for sites suitable for single homes. Expect to pay more the closer you get to the station.
The standard land price (kijun-chika) for a survey site located at Minami Aoyama 5-1-27 (near the Omotesando intersection) was 11,600,000 Yen/sqm in 2015, up 20.2% from 2014. Meanwhile, a residential site in Minami Aoyama 4-26-18 (near Nezu Museum) increased by 8.1% from 2014 to 1,470,000 Yen/sqm. Read more