Science Plaza - Yonbancho Plaza

A-24 Tokyo CBDs Office Large Sponsor

An office/residential building with a quiet atmosphere

The Bancho area in Chidoya Ward is a quiet neighborhood that provides a peaceful work environment in the middle of the city. It is very popular with foreign-affiliated companies for whom the surrounding environment is especially important, and is also home to many law offices and government-affiliated organizations.
It possesses a strong competitive advantage thanks to its stately exterior as well as its superior building specifications.

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Related Press Releases

Notice Concerning Property Acquisition (Conclusion of Contract) "Science Plaza・Yonbancho Plaza"

Property Overview

Address Chiyoda-ku, Tokyo9-6 Yonbancho
Structure/Floors S, SRC,RC  B2/12F Acquisition Price (million yen) 2,660
Total Floor Space (m2) 24,560.36 Leasable Space (m2) 3,325.29
Completed 1995-2 Standard Floor Space (m2) 1,007.57
Acquisition Date December 6, 2013 No. of Tenants 23
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  • (Note1) The abbreviations of the “Structure/Floors represent the following, respectively:
  • S: steel-framed RC: reinforced concrete SRC: steel-framed, reinforced concrete
  • (Note2) The acquisition price indicates the transfer price stated in the real estate transaction agreement or trust beneficiary transfer agreement, rounded down to the nearest million yen, and excludes various expenses required for the acquisition of the relevant real estate, etc. and consumption tax, etc.
  • (Note3) The “Total Floor Space” indicates the area of the entire building (including the interests owned by other sectional owners or co-owners) based on the registry.
  • (Note4) The “Leasable Space” indicates the area of the portions owned by JPR.

Management Status

30th 31st 32nd 33rd
Rental Revenues (million yen) 112 112 116 117
Rental Expenses (million yen) 36 35 37 38
NOI from Leasing (million yen) 76 77 78 78
Depreciation (million yen) 9 8 8 8
Rental Income (million yen) 66 69 70 69
Capital Expenditures (million yen) 3 11 5 32
Period-End Occupancy Rate (%) 96.0 95.8 100.0 96.6
NOI Yield (%) 5.7 5.9 5.9 6.0
NOI Yield after Depreciation (%) 5.0 5.3 5.3 5.3
Appraisal Value (million yen) 3,060 3,290 3,290 3,380
Gain or Loss from Valuation (million yen) 366 592 595 662
Cap Rate (%) 4.5 4.2 4.2 4.1
  • (Note1) Period-end occupancy rate = Leased space/Leasable space
  • (Note2) Annualized NOI yield = (Rent revenue - Realestate expenses related to rent business) + Depreciation/Acquisition price
  • (Note3) Annualized NOI yield(after depreciation) = (Rent revenue - Realestate expenses related to rent business)/Acquisition price
  • (Note4) Unrealized gains or losses = Appraisal value - Book value
  • (Note5) Cap rate indicates the capitalization rate by the direct capitalization method. Direct capitalization method is one of the methods to calculate the value estimated by income approach (a method to estimate the value of the target property by calculating the sum total of present value of the net operating income which the target property is expected to generate in the future), and capitalizes the net operating income of a certain period by using the capitalization rate.
  • (Note6) The amounts and areas are rounded down to the nearest specified unit, and the percentages and other figures are rounded off to the nearest specified unit.

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