Totsu Tatemono Sells “Saffron Building No. 2” in Kanda-Izumicho, Chiyoda Ward

Totsu Tatemono Co., Ltd. has sold the office-and-retail property “Saffron Building No. 2” located in Kanda-Izumicho, Chiyoda Ward. The buyer is LUGEND, whose headquarters are also located in Kanda-Izumicho, making this an acquisition in close proximity to its home base. Totsu Tatemono originally acquired the property in November 2024 and disposed of it roughly 10 months later.

The property is a five-story reinforced-concrete building completed in 1973, with a Gross Floor Area of approximately 55 tsubo (approx. 1,950 sq. ft.). It sits a two-minute walk from Akihabara Station, served by the JR Yamanote Line, Keihin-Tohoku Line and the Tokyo Metro Hibiya Line. As a 52-year-old pre-1981 building under Japan’s old seismic code, the acquisition may position LUGEND to consider a redevelopment strategy.

Office rents in the Akihabara area show a notable gap between older and newer stock. Small-scale office buildings completed in 1985 or earlier typically achieve rents in the JPY 13,000-per-tsubo range, while newer buildings completed in 2020 or later command around JPY 25,000 per tsubo. The location therefore presents upside potential through redevelopment and repositioning, according to analysis by the editorial team based on “estie market research.”

Key Facts

• Property Name: Saffron Building No. 2

• Seller: Totsu Tatemono Co., Ltd.

• Buyer: LUGEND Inc.

• Location: 1-3-5 Kanda-Izumicho, Chiyoda-ku, Tokyo

• Nearest Station: Akihabara Station (JR Yamanote Line / Keihin-Tohoku Line; Tokyo Metro Hibiya Line), 2-minute walk

• Completion: January 1973

• Number of Floors: 5F (Structure: Reinforced Concrete)

• Gross Floor Area: approx. 55 tsubo (approx. 1,950 sq. ft.)