First property of the “Fundes” series developed by Tokyo Tatemono
The property boasts excellent access, being located very near to the west exit of Suidobashi Station.
It is the first property of "Fundes," a brand for urban compact retail facilities developed by Tokyo Tatemono, the sponsor of JPR. The concept of the Fundes series is to realize compact yet community-based facilities that meet the needs of office workers and residents in the neighboring areas.
At the southern side of the station, there is an "office area" where headquarters of large companies are established, and a "campus area" where many universities and vocational schools are located. Thus, demand from not only workers but from various customer bases can be expected. At the northern side, a "leisure area" formed by Tokyo Dome, etc. is located nearby, leading the property to enjoy area the feature of expected customer attraction on weekends and holidays as well.
In addition to superior visibility as a retail facility, it is a property with high competitiveness in terms of sense of high-grade, tenant replaceability, etc.
Routes from Nearby Stations
Click the station names below and you can see the route from the relevant station to the property.
Related Press Releases
- Notice Concerning Acquisition and Sale of Properties (Conclusion of Contracts) Acquisition of “GINZA GATES” and “FUNDES Suidobashi” and Sale of “Fukuoka Bldg.” and “JPR Hakata-chuo Building”
|Address||Chiyoda-ku, Tokyo20-8 Kandamisakicho 2 Chome|
|Structure/Floors||S 9F||Acquisition Price (million yen)||3,250|
|Total Floor Space (m2)||1,477.91||Leasable Space (m2)||1,367.56|
|Completed||2015-7||Standard Floor Space (m2)||174.79|
|Acquisition Date||December 15, 2016||No. of Tenants||6|
- (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.
- (Note5) The location of FUNDES Suidobashi is based on the latest indication after the name of the town was changed as of January 1, 2018.
Floor Plan (Japanese)
|Rental Revenues (million yen)||92||96||94||93|
|Rental Expenses (million yen)||22||24||24||23|
|NOI from Leasing (million yen)||70||71||69||70|
|Depreciation (million yen)||9||9||9||9|
|Rental Income (million yen)||60||62||60||60|
|Capital Expenditures (million yen)||0||0||0||4|
|Period-End Occupancy Rate (%)||100.0||100.0||100.0||100.0|
|NOI Yield (%)||4.4||4.4||4.3||4.3|
|NOI Yield after Depreciation (%)||3.8||3.8||3.7||3.7|
|Appraisal Value (million yen)||3,470||3,570||3,640||3,640|
|Gain or Loss from Valuation (million yen)||217||326||406||411|
|Cap Rate (%)||3.8||3.7||3.6||3.6|
- (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.