Proud Minamiazabu (Leasehold)

Proud Minamiazabu

Average price: 1,650,000 Yen/sqm
Size range: 68.84 ~ 192.55 sqm (736 ~ 2072 sqft)

Location: Minamiazabu, Minato-ku


Sales began in June 2012 and all apartments were sold out by February 2013.

Proud Minamiazabu is a leasehold condominium in the Minamiazabu expat area, and is just a short walk to Hiroo Station.

The land is owned by the French Embassy next door. The land is leased to apartment owners for a 60 year fixed term expiring in 2073. Other fixed-term leaseholds usually require the building to be demolished at the end of the term at the apartment owners expense, but under this lease the building and land will be returned to the French Embassy in 2073. There is no compensation for apartment owners.

The initial plans were for a 50 ~ 60 unit apartment building with apartments ranging from 160 ~ 200 sqm. Construction was scheduled to begin in February 2010 with completion by early 2012, but was delayed. The developers came up with a more conservative design with more apartments but with smaller floorplans.

Sales began in June 2012 and all apartments were sold out by February 2013. When new, apartments were priced from 60.9 ~ 490 million Yen, with apartments overlooking the adjoining French Embassy grounds priced around 1,360,000 Yen/sqm, and other apartments priced around 1,030,000 Yen/sqm.

Proud Minamiazabu is across the street from Grand Suite Hiroo – a freehold condominium where apartments had an average price of 1,360,000 Yen/sqm when brand new.


Hiroo Station – 6 min walk

Completion:October 2013
No. of units:88
Construction:7 Stories
Construction Company:Takenaka Corporation
Developers:Mitsui Fudosan and Nomura Fudosan
Carparking:61 spaces
Land size:4490.29 sqm
Land ownership:Fixed-Term Leasehold (expires in December 2073)

Proud Minamiazabu 2

Proud Minamiazabu Interior 1

Proud Minamiazabu Interior 2

Proud Minamiazabu Interior 4

Proud Minamiazabu Interior 3

Proud Minamiazabu 2F Floorplan
^ 2F 2-Bedroom 78.18 sqm (841 sqft)
Proud Minamiazabu 5F Floorplan
5F 2-Bedroom 82.24 sqm (885 sqft)

The following is a selection of apartments that were previously listed for sale in this building. Please be aware that these apartments may since have sold and may no longer be available.

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