Mitsubishi brings prime apartments in East side of Shinjuku station

HONG KONG, June 15, 2018 – On 23rd June 2018, leading developer Mitsubishi Jisho Residence Co., Ltd will launch The ParkOne's Shibuya Honmachi, their latest project under The ParkOne's brand. This new development will comprise of 118 apartments in the western side of JR Shinjuku station. The developer has appointed JLL as the sole agent.

Under the government plan of reconstruction of the CBD areas, the western side of JR Shinjuku station has been under massive redevelopment now. With the Tokyo Metropolitan Government Office, the area has traditionally attracted construction companies and architects and is recently attracting many tech companies. LINE, an instant messaging app company and AirBnB, one of the largest online marketplace for accommodation, are headquartered near JR Shinjuku station.

The ParkOne's brand was set by Mitsubishi in 2016 to target a growing population in central Tokyo, working singles. The urbanization of Japan brought more people coming to Tokyo from local cities. The main reason to move to Tokyo is for a job. The population of central Tokyo has increased about 40% in last 20 years and the year of 20 to 34 are the highest increase rate by age group. To meet this increasing demand, Mitsubishi is committed to supply studios and 1 bedroom in central Tokyo with the quality of Mitsubishi.

Mitsubishi launched 3 projects under The ParkOne's and this is the 4th project. The first 2 projects were already completed with all units sold before completion.

The 14-storey The ParkOne's Shibuya Honmachi will offer unparalleled travel connections with nearby Nishishinjuku 5-Chome Station located within a 5-minute walk of the development. It offering journey times of just 13 minutes to Shinjuku, Lidabashi and Roppongi Business District. Shinjuku Station is one the major terminal station where 14 train lines stop at the station every day. The nearest bus stop, just one minute walk from the development, offers convenient access to Shibuya station in 17 minutes. For international and domestic travel, Haneda International Airport is just a 45 minutes bus journey away from the nearby seven Airport Limousin bus stops.

Mandy Wong, Head of International Properties, JLL, said: "The 2020 Tokyo Olympic Games will boost Japan's economy and bring new housing demand as Japan is upgrading its already excellent infrastructure. They are also increasing the investment in hotels, public amenities, commercial premises and transport. The ParkOne's Shibuya Honmachi is close to the commercial area of Shinjuku and Tokyo Metropolitan Government Office. Residents will benefit from shops, trendy restaurants, fitness center, shopping street, opera city and art exhibitions on the doorstep."

The completion is expected in December 2018, which is consider the best season to start rental marketing as the peak season is January to March as the fiscal and school year starts from April in Japan.

A price is starting from JPY28,880,000 (approximately HKD 2.06 million) for a studio and JPY37,080,000  (about HKD2.64 million) for a one-bedroom.