Proud Minamiazabu Sold Out

All 88 apartments in Nomura’s ‘Proud Minamiazabu’ condominium have sold prior to completion.

The 7-storey building is adjacent to the French Embassy in the exclusive Minamiazabu 4 Chome residential neighbourhood. This is a leasehold building, which means apartment owners do not own a share of the land. The land is leased from the Embassy under a 60 year fixed-term. At the end of the term, the land and building must be returned to the Embassy.

Nomura’s Proud Tower Shinonome sells out on 1st day of sales

In what appears to be good news for developers on Tokyo’s bay area, all of the apartments in Nomura Real Estate’s Proud Tower Shinonome Canal Court that went on sale this Monday received purchase applications on the same day.

The 52-storey, 600 unit residential tower is located on a reclaimed island on Tokyo Bay, an area that suffered from a  drop in popularity following the March 11 Tohoku disaster due to its liquefaction risks.

“Proud Minamiazabu” to be built on French Embassy site

The 4000sqm site of the former French Embassy in Minamiazabu 4 Chome is about to be redeveloped into a luxury 7-storey condominium apartment complex.

The developers are Mitsui Fudosan Residential and Nomura Fudosan and the construction company is Takenaka Corporation. Nomura will act as the sales agent. The project is currently called the “French Embassy Site Minamiazabu Project” but the final building name may be “Proud Minamiazabu”, which will be the latest in Nomura’s “Proud Series” of apartments.

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