PARCO CO., LTD.
December 20, 2016
PARCO Co., Ltd. (“PARCO”) announced today that it will open Harajuku ZERO GATE*, a new shopping complex in Jingumae, Shibuya, and has agreed a lease with the owner of the planned site.
1. Outline of the plan
The planned site is located in one of Japan’s highest profile and most fashionable shopping areas, with large-scale shopping facilities, major stores by Japanese and international brands, and curated retail stores. It is also close to venues being used for the 2020 Tokyo Olympic and Paralympic Games – Yoyogi National Gymnasium, which will be used for competitive events, and the New National Stadium Japan, which will host the opening and closing ceremonies – so the number of visitors to the area from both Japan and overseas is expected to increase.
PARCO is leasing the planned site through its ZERO GATE business and with the construction of Harajuku ZERO GATE* aims to contribute to creating further vibrancy in Harajuku by communicating a new appeal in Japan and abroad.
2. Outline of new shopping complex
|Name||Harajuku ZERO GATE*|
|Address||4-31-5 Jingumae, Shibuya-ku, Tokyo (lot number)|
|Area of planned site||286.82 m²|
|Planned floor area||894.14 m² (planned)|
|Structure / Scale||Steel structure / four above-ground floors (planned)|
|Investment amount||Approx. ￥420 million (planned)|
|Opening||Scheduled for winter 2017 (planned)|
To be decided (There will be an announcement once the details regarding the initial tenants are finalized)
3. Outline of landowner (lessor)
|Name||JUN Co., Ltd.|
|Address||2-2-3 Minami-Aoyama, Minato-ku, Tokyo|
|Representative name, title||Susumu Sasaki, CEO & President|
|Business Description||Designing, producing, and marketing a full range of men's and women's fashion products. Building and interior design planning, radio program planning and production, sound production, outdoor advertisement media business, golf courses, restaurants, and winery management.|
|Relationship to PARCO||Has previously opened shops in PARCO-managed shopping complexes as a tenant|
It is expected that the impact of this agreement on PARCO’s financial results for the current fiscal year will be minor.
Reference: Area map of Harajuku ZERO GATE*