RAYSUM perceived the potential of the land even amid the COVID-19 pandemic.
We purchased land in Jingumae, an area nestled between Harajuku, Meiji-Jingumae and Omotesando stations, from a major developer.RAYSUM acquired the property from a developer that had abandoned a plan to build urban condominiums on the site due to increasing uncertainty brought about by the pandemic.
RAYSUM developed a new style of environmentally-friendly office on the site.
We identified significant earnings potential in this new concept office, by leveraging characteristics of the area. RAYSUM developed a strong demand for environmentally-friendly office in the immediate area during the planning phase of the development.
In response, we proactively used advanced technologies that reduce the environmental impact by incorporating natural light and airflow. Consequently, the building was awarded ZEB (Net Zero Energy Building) Ready certification.
Grabbed the attention of an investor
We initially sought to prepare a leasing scheme and sell the building upon reaching full occupancy, but we were approached during the construction stage by an investor who ended up purchasing the entire building.
Overview
| Name | Jingumae 2-chome Project |
|---|---|
| Principal value enhancement method | New Development (ZEB Ready certified) |
| Other value enhancement method | N/A |
| Age (at time of purchase) | N/A |
| Land area | Approx. 700 tsubos (2,314 ㎡) |
| Floor area | Approx. 2,500 tsubos (8264 ㎡) |
| Leasable area | Approx. 1,800 tsubos (5950 ㎡) |
| Volume area ratio (designated) | 500% |
| Number of floors | 6 floors above ground |
| Asset class | Office |
| Purchase date | November 2019 |
| Sale date | February 2023 |
| Sale price | 10 billion yen or more |