New retail project for Omotesando/Harajuku intersection

Coop Olympia Annex 1

The Jingumae 6 Chome District Redevelopment Committee is moving forward with plans to redevelop a prime 3,000 sqm retail site fronting both Omotesando and Meiji Dori Avenues.

The redevelopment committee was established in August 2015 and includes Tokyu Land (who acquired Coop Olympia Annex in 2013), Colombin Co. (a biscuit and cake company that have their headquarters next-door to Coop Olympic Annex), part of Tokyo Metro’s subway facilities (the Chiyoda and Fukutoshin Lines are both located nearby), and the Tokyo Metropolitan Government (owner of the Jingumae Onden Resident Hall).

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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.

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Apartment prices along Tokyo’s Ginza Line

The following table shows the change in apartment prices along the Ginza Subway Line (Japan’s oldest subway line). This subway line runs from Shibuya to Asakusa and passes through several of the city’s prime residential and business districts, many of which have seen a boost in prices over the past few years.

The average price across all stations on the Ginza line was 1,000,000 Yen/sqm in 2015, up 19.8% from 2014. The average building age was 21.0 years, down from 23.6 years in 2014. The average apartment size was 56.35 sqm (606 sq.ft), down from 60.76 sqm in 2014.

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Shibuya Eins 11F

2-Bedrooms + 1 Bathroom, 70.73 sqm
Shibuya, Shibuya-ku, Tokyo
SOLD
 ABOUT

*This apartment sold in January 2016 and is no longer available*

Shibuya Eins is a 18-storey apartment building located 700 meters from the Shibuya Crossing and 300 meters from Harajuku’s Cat Street. The building was developed by Towa Real Estate and completed in 2001. There is a resident sky-lounge on the 15th floor and a 24-hr caretaker.

This is a 2-Bedroom apartment on the 11th floor. It is north-west facing and has floor heating in the living/dining, a master bedroom with walk-in closet, a storage closet and a separate trunkroom storage space. The interior was updated in December 2015 with stone counter-top in the kitchen, dishwasher, kitchen disposer, new bath, vanity and toilet, and new wallpaper and flooring.

The land ownership share for this apartment is approximately 21.09 sqm.

The estimated rent of this apartment is approximately 280,000 ~ 315,000 Yen/month*.

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Premist Minami Aoyama 1F

2-Bedrooms + 1 Bathroom, 75.69 sqm
Minami Aoyama, Minato-ku, Tokyo
SOLD
 ABOUT

*This apartment sold in May 2016 and is no longer available*

Premist Minami Aoyama is a 8-storey condominium located along the same street as the Blue Note jazz club and the Nezu Museum. It was developed by Daiwa House and completed in 2014. In the past 20 years, only 5 condominiums* have been built in the Minami Aoyama address and within a 10 minute walk from Omotesando Station. In recent years, the only other project to be built on land over 1,000 sqm was Proud Minami Aoyama.

Features include a concierge desk and 24hr caretaker.

This is a 2-Bedroom apartment on the 1st floor. It is south-west facing and includes a private 45 sqm terrace, storage closet and a master bedroom with walk-in closet. A separate trunk room is included. The land ownership share for this apartment is approximately 37.66 sqm.

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Jingumae 5 Chome Blanche 2F

3-Bedrooms + 2 Bathrooms, 131.29 sqm
Jingumae, Shibuya-ku, Tokyo
SOLD
 ABOUT

Jingumae 5 Chome Blanche is a luxury low-rise apartment building in the trendy Jingumae neighborhood. It was designed by Archi Site Mobius Architects and Associates and completed in 2002.

Large scale building repairs and maintenance were carried out in July 2015.

This is a 3-Bedroom corner apartment on the 2nd floor. It is south-west and north-west facing and includes a wide-span balcony, master bedroom with walk-in closet and ensuite bathroom, floor heating in the living/dining room, and a storage closet.

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Shibuya Eins 16F

2-Bedrooms + 1 Bathroom, 65.05 sqm
Shibuya, Shibuya-ku, Tokyo
SOLD
 ABOUT

*This property has sold and is no longer available*

Shibuya Eins is a 18-storey apartment building located 700 meters from the Shibuya Crossing and 300 meters from Harajuku’s Cat Street. The building was developed by Towa Real Estate and completed in 2001. There is a resident sky-lounge on the 15th floor and a 24-hr caretaker.

This is a 2-Bedroom apartment on the 16th floor. It is south-east facing and has a wide-span balcony and a walk-in closet. There is floor heating in the living/dining. A trunkroom storage space is included.

The estimated rent of this apartment is approximately 260,000 ~ 290,000 Yen/month*.

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Chateau Toyo Minami Aoyama 3F

2-Bedrooms + 1 Bathroom, 71.16 sqm
Minami Aoyama, Minato-ku, Tokyo
SOLD
 ABOUT

*This apartment sold in June 2016 and is no longer available*

Chateau Toyo Minami Aoyama is a vintage apartment building located in the Minami Aoyama 5 Chome neighbourhood. The 8-storey building was built in 1971.

This is a 2-Bedroom apartment on the 3rd floor. It is south-east facing. The interior has been renovated with a new kitchen, bathroom, flooring, lighting and wallpaper. Renovations were completed in January 2016.

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Domus Aoyama 3F

3-Bedrooms + 2 Bathrooms + 1 Car space, 129.18 sqm
Minami Aoyama, Minato-ku, Tokyo
SOLD
 ABOUT

*This apartment sold in December 2015 and is no longer available*

Domus Aoyama is a 5-storey vintage apartment building located 75 meters from Kotto Dori Street and 900 meters from the Omotesando Intersection.

This is a 3-Bedroom corner apartment on the 3rd floor. It is south-west facing and includes an open-plan kitchen, two bathrooms, a wide-span balcony, trunkroom (8.88 sqm) and a car park. The interior was updated in August 2006 with a new kitchen and bathroom.

The land ownership share for this apartment is approximately 56.80 sqm.

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Omotesando: A look at the market and current sale listings

Omotesando 1

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.

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