The ParkOne's Shibuya Honmachi: modern mansion living in downtown Tokyo
Mitsubishi's The ParkOne brand is satisfying the high demand for luxury residential property in Tokyo's trendiest areas.
Already the world's largest city, Tokyo's population is continuing to grow every year, especially in its central business districts. The Tokyo 2020 Olympics are just one factor driving the 'once-in-a-century' redevelopment of CBDs like Shinjuku and Shibuya, enhancing their already considerable assets to attract more global investment, tourists and foreign businesses.
With the bulk of public and private investment being dedicated to commercial and retail facilities, hotels, public amenities and transport infrastructure, the already high demand for housing in Tokyo's central wards has become even steeper. The city's population growth has traditionally been dominated by young working singles who only require spartan accommodation, but government incentives such as special economic zones are increasingly attracting foreign businesses and professionals with more selective demands.
One local developer working to meet this demand is Mitsubishi Jisho Residence. With the resources of the multinational Mitsubishi Group behind it, the developer has recruited some of Japan's foremost designers to create luxury residences fit for professionals, couples and families in Tokyo's most desirable locations under its 'The ParkOne' brand.
The first two properties fully sold out before completion, with two more currently under construction. The latest is The ParkOne's Shibuya Honmachi, a 14-story tower located ideally between Shinjuku and Shibuya, commanding stunning views over the sparkling metropolis.
The pulsing heart of Tokyo
Japan's capital is too vast for a single city center to be adequate. Instead, its downtown sprawl is organized into seven sub-metropolitan centers or fukutoshin that operate much like independent cities. Two of the largest are Shinjuku and Shibuya, neighboring hubs of fashion, nightlife and creative industry that also boast two of the busiest train stations in the world.
Famous for their neon-lit skyscrapers and busy scramble crossing that are iconic images of Tokyo, the areas around Shinjuku and Shibuya stations are focal points of Tokyo's ongoing regeneration efforts. As well as improving existing infrastructure and amenities, brand new skyscrapers are being constructed that will add millions of square feet of office and retail space every year to 2027.
Already the home of notable Japanese brands such as Nissin Foods, NTT and Olympus and successful internet startups including AirBnB and LINE, these commercial districts are being made distinctly more foreigner-friendly. Financial incentives, language support and collaborative facilities are encouraging multinational companies and professionals to choose Tokyo as their base in Asia.
Serenity in the city
Overlooking Shinjuku and Shibuya from a high vantage point, set back from the main road, The ParkOne’s Shibuya Honmachi offers all the perks of inner city living without the noise or crowds. This collection of 118 apartments in an earthquake-resistant building was designed by local architect Akiko Inayoshi to give a sense of prestigious mansion living, expressed through the use of quality materials such as natural stone, hardwood and porcelain tiles inside and out. Each apartment has a private balcony, creating a distinctive stepped facade.
The local neighborhood has everything needed for a comfortable life, from the essentials of schools, supermarkets and clinics to cultural venues like the New National Theater and Tokyo Opera City Art Gallery, as well as nearby nature at Yoyogi Park. Two metro lines and a bus stop are within a five-minute walk for convenient access throughout Tokyo, while nearby Shinjuku Station has intercity connections and direct airport buses to both Haneda and Narita.
Mandy Wong, Head of International Properties at Jones Lang LaSalle (JLL), explains: “The ParkOne's Shibuya Honmachi is close to the commercial area of Shinjuku and the Tokyo Metropolitan Government Building. Residents will benefit from shops, trendy restaurants, a fitness center, opera city and art exhibitions on the doorstep.”
The project is expected to open its doors in December 2018, just in time for the peak rental demand from January to March ahead of the new financial and school year. Prices start from ¥28,880,000 (approximately HKD 2.06 million).
Hong Kong launch event:
Date: 23–24 June 2018 (Sat-Sun)
Venue: 6/F, Three Pacific Place, 1 Queen's Road East, Hong Kong