BLOCKS Ebisu

From a long-established shared office to the second location of our original shared office brand, "BLOCKS OFFICE"

‍A building completed in 1987, which originally housed retail on the first floor and shared offices on the second to ninth floors, was renovated into "BLOCKS Ebisu" as a shared office for small businesses, tailored to modern needs. The renovation work was carried out over three years while tenants were still occupying the building. Tenant satisfaction was improved by features such as a lounge with many houseplants and newly installed web conferencing booths. Significant rent increases and a review of management costs were implemented, achieving an improvement in NOI.
WEB SITE:https://www.blocks-office.jp/ebisu/

‍Focusing on the gap between area characteristics, evolving needs, and services offered

‍For 35 years since its completion, the property had been operated as a shared office with an outdated interior, failing to meet modern needs and resulting in stagnant rents. However, its prime location, a 7-minute walk from Ebisu Station, with abundant commercial facilities and restaurants nearby, made it an ideal environment for "BLOCKS OFFICE," which focuses on the live-work concept.

‍Fundamentally renovating both the physical space and services to meet target needs

‍Based on market research, we proposed a renovation into "BLOCKS OFFICE," a shared office brand that enhances investment returns and meets latent needs. The plan aimed for high yields while offering prices over 30% lower than premium offices in the city center. We designed a comfortable space with a spacious shared lounge, furnished private offices, meeting rooms, and web conferencing booths, increasing the number of private offices to boost rental income. Operations were handled by our dedicated team, BLOCKS PLUS, which reduced operating costs through a review of management expenses and the utilization of web marketing.

‍Significant increase in rental income achieved by providing a space and services tailored to the target audience

‍As a result of the renovation, rental income increased 1.8-fold, and both rent and occupancy rates improved. The comfortable space featuring houseplants, front desk service, and the provision of Horiguchi Coffee have been well-received, attracting many individual entrepreneurs and small businesses from the vicinity. Despite significant rent increases, there was a surge in relocation requests, and continuous communication by dedicated operators led to improved tenant satisfaction and enhancements. Furthermore, art made from recycled materials was installed, creating value with sustainability in mind.

Related Releases

Live-Work Co-working Space 'BLOCKS EBISU' Opens in Ebisu

Media Coverage

'BLOCKS EBISU' Featured in Akiyarinoba

'BLOCKS EBISU' Featured in Chintai Trend

'BLOCKS EBISU' Featured in Monthly Property Management

'BLOCKS EBISU' Featured on BAMBOO MEDIA, a Comprehensive Spatial Design Website