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RE-11 HULIC &New SHIBUYA

Address 31-1 Udagawa-cho, Shibuya-ku, Tokyo
Walking Distance from Nearest Station Five-minute walk from Shibuya Station on the JR Yamanote Line, Tokyo Metro Ginza and Hanzomon Lines, and other lines
Total Floor Space 2,069.43㎡
Construction S
Completed April 2017
Acquisition Date June 30, 2017
Note 1: The column for total floor space indicates the figure for the entire building as shown in the property registry. This applies also where the holding consists of part of a building under compartmentalized ownership or with a co-ownership interest.
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Characteristics of the Location

The property is located on Inokashira-dori Street, just five minutes’ walk from Shibuya Station, which is served by the JR Yamanote Line, Tokyo Metro Ginza and Hanzomon Lines, and other lines. Shibuya Station is one of Japan’s busiest train terminals that has transfers for nine lines operated by four companies including JR, which ensures excellent access within Tokyo and the neighboring prefectures.
Inokashira-dori Street along with Center Main Street, Koen-dori Street, and Bunkamura-dori Street forms a prosperous commercial district to the northwest of Shibuya Station (Shibuya Center Street). There are numerous shops of many types including fast fashion and restaurants that attract large numbers of people coming from the pedestrian scramble intersection in front of the station. The property is located somewhat to the interior of the area away from the station, but is at the corner of a side street that joins Inokashira-dori Street, Center Komichi (path), and Bunkamura-dori Street, and the ability to attract customers who are traveling between these streets is a strong point. A number of reconstruction projects are planned including the nearby former Parco site, and as construction on these projects is completed, customers heading to the area will increase, and even greater customer traffic flows can be expected.

Property Characteristics

The structure is a new, 10-story commercial building with two basement levels, completed in April 2017. The total floor area is approximately 2,000 m², and each floor has an area of approximately 100 m² to 200 m². Thus, the floor area is appropriate for the demand segments of restaurants and service shops in the nearby areas. The highly innovative exterior features glass block piled in an alternating pattern, and the building is conspicuous in the area. Located on the corner, the building is highly visible and has become a local landmark.
The property is the first commercial facility independently developed by Hulic, which is Hulic Reit’s sponsor. Under the concept of “adding the new,” entitled “HULIC &New,” it is attracting new tenants establishing businesses in Shibuya for the first time as well as popular shops developing new commercial formats.

Press Releases

Press Releases

June 30, 2017
Notice concerning the Completion of Property Acquisition PDF(PDF:125KB)
June 27, 2017
Notice concerning the Acquisition of Property PDF(PDF:1.1MB)

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