Seiko to sell historical residence in Shirokane for an estimated 30 billion Yen

Seiko Residence Shirokane 3

On August 12, Seiko Holdings announced that they will be selling the 81-year old residence of company founder Kintaro Hattori in Shirokane 2 Chome and are expected to post a gain of 8.5 billion Yen (82 million USD) from its sale. Managing Director Akio Naito said the property was of historical importance to the company and they will announce further details after the property is transferred at the end of September.

The residence was designed by architect Teitaro Takahashi (1892 – 1970) and built by Obayashi Corporation in 1933. Takahashi designed a number of residences, hotels and buildings including the Former Maeda Residence in Komaba Park (1928) and the Takashimaya Department Store in Nihonbashi (1933).

Hattori founded the Wako watch and jewellery shop in Ginza in 1881. The current building in Ginza was built in 1932 as the K. Hattori Building and replaced Hattori’s original store which had been demolished in 1921. Naturally, the clock atop the building is a Seiko.

Grande Maison Shirokane-no-mori The Tower

Average price: 1,900,000 Yen/sqm
Size range: 42.21 ~ 194.12 sqm (454 ~ 2088 sqft)

Location: Shirokane, Minato-ku

 ABOUT

All new apartments sold out before completion.

Grande Maison Shirokane-no-mori The Tower is a 30-storey residential tower located alongside Platinum Dori Avenue in Shirokane. This is the first high-rise condominium above 20-storeys to be built alongside Platinum Dori Avenue since 1983.

Sales began in September 2013. All 90 apartments initially released for sale sold out on the same day. The average price was 105,570,000 Yen. 126 applications were made on the 90 apartments. When sales began, apartments were priced from 50.78 ~ 359 million Yen, with an average price of 1,380,000 Yen/sqm.

It was constructed using a hybrid menshin-seishin earthquake-resistant construction method (menshin is base-isolation, while seshin is vibration control).

Large-scale redevelopment for Shirokane 1 Chome

A large redevelopment is planned for a 17,000sqm block in Shirokane 1 Chome area in Minato-ku. The development will include approximately 1,200 residential apartments. There will be three buildings of varying heights, with the highest being a 156m tall tower with 43 floors. The floorspace of the buildings will total 133,700 sqm (1,438,612 sqft). Construction is scheduled to begin in 2015 (it was originally planned for 2014) and the project should be completed by 2019.

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