AppleInsider Staff
Apple is supposedly planning on relocating its Japan headquarters to an office tower in the upscale Roppongi Hills complex in Tokyo, with the move said to be happening as soon as April.
Citing people familiar with the move, Bloomberg reports that Apple will take over two floors in the main Mori Tower at Roppongi Hills, a high-end property development built by Mori Building Co. for an estimated $2.2 billion.
The sources go on to say that Apple informed management at its current base of operations in Tokyo Opera City Tower, and plans to terminate the existing lease by the end of June.
Apple's new location is already home to big financial firms like Goldman Sachs and features a Grand Hyatt hotel, an office tower, apartments, the Mori Art Museum, shops, restaurants and other facilities.
According to the publication, Apple could be taking advantage of a decline in Tokyo rental prices, which have been falling for nearly five years.
“Rents of large office buildings in central Tokyo peaked in the second quarter of 2008 and have fallen 40 percent from the peak,†Kayoko Hirao, head of Japan research at DTZ Research in Tokyo told Bloomberg. “It is a good time to consider an office relocation to the central business area and it should a good chance for Apple. The office rental market will recover this year.â€
The area to which Apple is expected to relocate is currently showing prices at 46 percent of peak, says local property broker Jones Lang LaSalle Inc.
Malcolm Owen
William Gallagher
Charles Martin
Christine McKee
Wesley Hilliard
Andrew Orr
8 Comments
Odd that they haven't simply purchased some prime property instead of continue to rent.
That's right, closer to the visa-less Kenyans that harass you to go to their clubs and buy over-priced (and potentially spiked) drinks.
Tokyo has some radioactive areas from the reactor meltdowns, maybe Apple was looking toward lower dosimeter readings for their workers.
Unless things have changed, it is still nearly impossible for foreigners or foreign corporations to buy property in Japan alone. You need to have a Japanese partner with a controlling 51% stake. You can buy a house for example but you will not own the land it sits on. Seems like a strange concept for an American where even illegal aliens can buy property here let alone someone here legally, but in Japan and even Mexico and many other countries they have very strict rules requiring partnering with a local citizen or company to buy property.
That's right, closer to the visa-less Kenyans that harass you to go to their clubs and buy over-priced (and potentially spiked) drinks.
Hahaha, so so so true, can't walk around harajuku without getting harassed either, ahh good times :)
Isn't Roppongi a red light district?