Mitsubishi acquires Shibuya site for potential luxury condominium project
Mitsubishi Jisho Residence and Cosmos Initia have acquired a large development site near Shibuya Station. Details have yet to be announced, but industry insiders suggest that, given the size of the land, it could be slated for a luxury condominium project.
Update: The project is called The Parkhouse Shibuya Nanpeidai. Pre-sales for Hong Kong-based buyers began in September 2017, with prices starting from around 145 million Yen. The 10-storey building will have approximately 100 apartments with completion by May 2019 or later.
The 3,300 sqm (35,500 sq.ft) site in Nanpeidaicho is located near the Cerulean Tower Tokyu Hotel and a 5 minute walk from Shibuya Station’s South Exit. It was purchased from Japan Tobacco for an undisclosed price estimated somewhere in the several billion Yen range. The site included a 5-storey office building which is currently being demolished.Read more
Japan’s first high-rise condominium to be redeveloped
After several years of discussions, redevelopment plans have finally been announced for the 62-year old Miyamasuzaka Building / Miyamasuzaka Apaato in Shibuya. Demolition of the current building is expected to start in February 2016, with the new building to be completed by 2020. The building’s owners association voted in favour of redevelopment in March 2012.
This was Japan’s first high-rise condominium. It was developed by the Tokyo Metropolitan Government Bureau of Construction and completed in 1953. The building has 11 storeys above ground and one basement floor.
The typical apartment size in this building ranged from 39 ~ 43 sqm (420 ~ 463 sq.ft). Although the rooms may be small by today’s standards, the building was considered to be the epitome of luxury living at the time. When new, prices ranged from 600,000 ~ 1,000,000 yen, and almost all of the buyers were high-income earners such as bureaucrats, bankers or university professors.Read more
Shibuya Parco to be rebuilt
The Shibuya Parco Store is going to be redeveloped as part of the Udagawacho 15 District Redevelopment Project.
The new building will be 29 storeys and 110 meters tall. It will contain retail space the first 8 floors, with rental office space on floors 9 and above. Construction will start in March 2017 with completion scheduled for late 2019.Read more
Shibuya Ward Office demolition to start in November
Demolition of the 51-year old Shibuya Ward Office and Public Hall buildings will start this November. Discussions to redevelop the government offices began in early 2013 after a building inspection found that the ward office building did not meet minimum earthquake-resistant standards and was at risk of collapse in an earthquake with a shindo level of upper-6.
The Shibuya government office buildings include the 6-storey ward office and the 4-storey Shibuya Public Hall (Shibuya C.C. Lemon Hall). They were completed in 1964, and the Hall hosted the weight-lifting events for the ’64 Summer Olympics.
To help cover the costs of rebuilding, part of the government-owned land will be leased to Mitsui Fudosan Residential under a 70-year fixed term. Mitsui will construct a 143m tall, 39-storey residential tower. At the end of the lease, residents will vacate their apartments, the building will be demolished and the land will be returned to the local government.Read more
Construction to start on Shibuya Miyashitacho Project
Miyashitacho Realty, a corporation funded by Tokyu Corporation, Tokyu Construction, Taisei Corporation and Sapporo Real Estate, will officially begin construction on the Shibuya Miyashitacho Project on March 30.
The 5,000 sqm site is owned by the Tokyo Metropolitan Government and forms part of their ‘Urban Regeneration Step Up Project’. It was originally the site of the the Miyashitacho Apartments. There were originally three apartment buildings, with demolition of the last building fronting Meiji Dori starting recently.Read more
Shibuya City Office redevelopment under review
The redevelopment of the Shibuya City Office and Shibuya Public Hall (C.C. Lemon Hall) is under review due to a potential cost blowout. A shortage of skilled construction labour and rising material costs have caused the estimated construction costs to increase by around 30 ~ 50%.Read more