Maximizing the Potential of Luxury Residences
TOKI-ON Nishi Azabu
/ The Scape
Raysum believes that maximizing the potential of existing real estate depends on surpassing conventional thinking in order to come up with innovative ideas while keenly identifying the essential characteristics of a given area and property.
［TOKI-ON Nishi Azabu］
A leveled, 261-tsubo (approximately 862-square-meter) site in a quiet, upscale residential area near Roppongi Hills in Tokyo. Prior to our acquisition, the tenant mix consisted of a design office, gallery, and housing equipment showroom.
However, sensing the high potential of the property, which is located on a sizable leveled parcel in a secluded area off the main street and surrounded by many leading foreign companies and embassies, we set out to change the property’s use through a full renovation.
On the other hand, we are proud to have formed a connection with Prior Holdings, which runs a wide range of house wedding venues and restaurants all over Japan, along with Eneko Atxa Azurmendi, a 3-star Michelin chef of Basque cuisine.
Prior Holdings was looking for a property in a prime location in the heart of the city as a place to develop a crowning achievement of their business. At the same time, Chef Eneko was highly interested in the potential of this location for his second overseas restaurant after London. TOKI-ON Nishi Azabu was born as a result of these connections and our vision.
Chef Eneko’s restaurant and wedding venue, ENEKO Tokyo, is located on the B1, 1F, and 2F of the building, while the 3F and 4F have been boldly renovated to create an unparalleled ultra-luxury rental residence.
Within three months of opening, ENEKO Tokyo was ranked number one on wedding review sites. The restaurant, with its reputation for one-of-a-kind surprise experiences, quickly became an establishment where short-notice reservations were practically impossible. The rental housing similarly did very well, achieving rental income far exceeding standard rent levels in a short period of time.
The Scape is the culmination of Raysum’s expertise in the field of luxury rental housing.
Located on a hill in Hiroo, Tokyo on a leveled site of 172 tsubo (approximately 569 square meters), this property sits in front of the lush garden of one of the Satsuma clan’s former villas (which now belongs to the Miya family). The view of the garden is reflected in the glass of its living room, creating an atmosphere resembling that of a forest.
The building was previously used as a service office, but after we acquired it, we thoroughly examined ideas that could elevate the property’s features to a unique level. The basis for our vision was the image and style that Kengo Kuma, the building’s designer, had originally intended. We sought to revive it.
We came to the conclusion that the best available luxury in this area is to be able to enjoy the artistic garden scenery that stretches out in front of the property. We fully renovated the building so that all units may enjoy this opportunity, thereby transforming it into an unprecedented luxury rental apartment.
Since the top floor makes the best use of the overwhelming greenery of the garden surrounding it, we transformed it into a penthouse with a 360-degree view that indulges in sunrises, sunsets, and starry night skies. In similar fashion, we completely redesigned all units on the middle and lower floors to integrate the garden’s plants into each unit’s living spaces.
After renovations were complete, people who appreciate the unique value of the property have moved in one after the other. Thanks to them, the property continues to enjoy high occupancy and high profitability. High-quality tastes attract high-quality people. This virtuous cycle is the secret to long-term asset value improvement.