The Portal Akihabara
- Tokyo Metropolitan Areas
|Anticipated Acquisition Price||1,500 million yen|
|Appraised Value||1,570 million yen|
|Appraised NOI Yield||3.9%|
|NOI Yield after Depreciation||3.5%|
|Address||2-10-9 Higashi Kanda, Chiyoda-ku, Tokyo|
|Access||Approx. 4 minutes walk from “Bakurocho” Station, Approx. 5 minutes walk from “Asakusabashi” Station and Approx. 8 minutes walk from “Akihabara” Station|
|Leasable Floor Area||941.69㎡|
The property is a multi-tenant office building conveniently located within the Higashi-Kanda and Akihbara area. It is approximately a 4-minute walk from Bakurocho Station (JR Sobu Main Line), a 5-minute walk from Asakusabashi Station (JR Sobu and Toei Asakusa lines), and an 8-minute walk from Akihabara Station (JR Yamate, Keihin Tohoku and Tokyo Metro Hibiya lines).
Renovation works were completed on all floors of the property in March 2019. Within each office space, ceiling heights of approximately 3.4 meters were achieved by removing the suspended ceiling system and leaving structural beams exposed. Furthermore, by installing office and conference room furniture in line with tenant needs, the overall leasing appeal of the property was significantly enhanced, and it now provides a modern, efficient work environment that has proven very attractive for start-up companies from multiple industries.
The surrounding area is commercially zoned and consists of mid to high rise office buildings (many with ground floor retail components) and residential properties extending along Yasukuni-Dori (Avenue). Tenancies located at the street level are primarily occupied by merchandise shops, restaurants and other retail establishments that attract office workers commuting to and from the area.
Based on its close proximity to the Akihabara area, which is world renown for its electronics retail hub and subculture themed district, while taking into consideration the recent influx of overseas visitors, Akihabara is viewed as an area with great future growth potential as a commercial and tourist destination.