Housing Design Center Kobe

C-4 Other Cities Retail Outside

A building that brings together housing-related showrooms under one roof

Located in the Kobe Harborland area, where there are many large-scale shopping malls, movie theaters, etc., this commercial facility is in front of JR Kobe Station, making it highly accessible by public transportation.
It offers expansive space, with over 840 tsubos per floor and 3.4 meter-high ceilings. It has established itself as a complex housing a variety of home- and lifestyle-related showrooms and stores, including household fixtures and furniture (for kitchens, bathrooms, etc.), interior goods, home renovation products, etc.

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Related Press Releases

2005.9.26
Notice Concerning Acquisition of the Housing Design Center Kobe

Property Overview

Address Kobe, Hyogo2-2 Higashikawasakicho 1 Chome, Chuo-ku
Structure/Floors SRC, S  B2/11F Acquisition Price (million yen) 7,220
Total Floor Space (m2) 33,877.71 Leasable Space (m2) 35,444.13
Completed 1994-6 Standard Floor Space (m2) 2,783.37
Acquisition Date September 28, 2005 No. of Tenants 1
Related website
  • (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.

Floor Plan (Japanese)

Management Status

36th 37th 38th 39th
Rental Revenues (million yen) - - - -
Rental Expenses (million yen) - - - -
NOI from Leasing (million yen) 170 158 185 194
Depreciation (million yen) 62 64 65 68
Rental Income (million yen) 107 94 119 126
Capital Expenditures (million yen) 69 48 91 75
Period-End Occupancy Rate (%) 100.0 100.0 100.0 100.0
NOI Yield (%) 4.7 4.4 5.1 5.4
NOI Yield after Depreciation (%) 3.0 2.6 3.3 3.5
Appraisal Value (million yen) 7,570 7,660 7,640 7,590
Gain or Loss from Valuation (million yen) 1,480 1,609 1,563 1,506
Cap Rate (%) 5.3 5.4 5.4 5.4
  • (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.
  • (Note7)Due to unavoidable circumstances, the sum total of rental revenues and the sum total of rental expenses, etc. of the property are not disclosed.

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