Tokyu Corporation, L Catterton Real Estate and Tokyu Department Store Unveil Plans for Flagship “Shibuya Upper West Project” in the Heart of Tokyo

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Located at the intersection of the affluent residential districts of Shoto and Yoyogi, the cultural districts of Kamiyamacho and Tomigaya, and the bustling Shibuya district, the Shibuya Upper West project (currently the flagship store of Tokyu Department Store) will offer retail high quality, small luxury hotel, and rental residences. The concept of the project is “the Tokyo one Urban Retreat,” an enclave of relaxation combined with art and culture through a collaboration with cultural powerhouse Bunkamura. Aiming for completion in fiscal year 2027, the Shibuya Upper West project will become the “super-connector” of these communities, with privileged access to large parks and public transport.

This groundbreaking project builds on the Tokyu Group’s deep roots in Shibuya and expertise in mixed-use developments, retail, hospitality and culture, as well as LCRE’s extensive experience in destination design. leaders and retaining world-class brands. To lead the architectural design, the partnership retained Snøhetta, an internationally renowned specialist in designing sustainable spaces that merge conceptual form with landscape and nature. The House Collective, a contemporary luxury brand of Swire Hotels, a subsidiary of Swire Properties, brings a unique, art-conscious offering to a broad fanbase across Asia and beyond, marking the first true luxury hotel in Shibuya. Environmental and sustainability objectives are at the heart of the project with the aim of obtaining international certifications.

Tokyu Corporation President and Representative Director Kazuo Takahashi commented :
« The year of the 100th anniversary of the Tokyu groupe anniversary, we are honored to announce our partnership with a luxury real estate investor L Catterton Real Estate, a strong partner with extensive experience in creating iconic mixed-use projects that brings a strategic relationship with LVMH and Agache, global design firm Snøhetta and leading contemporary luxury hotel brand Swire Hotels. Snøhetta’s legacy rooted in Norway, one of the most sustainable countries in the world, places social and environmental sustainability at the heart of every project. The House Collective creates elevated luxury experiences with distinctive character and a sense of style. Located on the site of the Tokyu Department Store’s flagship store, the new development expects to accommodate a variety of audiences. Through its synergy with the adjacent cultural facility Bunkamura, we believe the project will play a key role in our vision for ‘Entertainment City Shibuya’ and pave the way for the Tokyu Group’s continued growth over the next 100 years.”

Real Estate Managing Partner L Catterton, Mathieu LeBozec commented :
“We are delighted to work with world-renowned, like-minded partners Snøhetta and Swire. This project reinforces our commitment to creating value by developing next-generation, world-class sustainable destinations in key neighborhoods in global cities. At Snøhetta, we partner with a design architect who creates striking architecture and is thrilled to see his construction debut Japan become an important flagship for Shibuya. At Swire and The House Collective, we work with one of from Asia the most sophisticated and luxurious hoteliers and are delighted to introduce a new standard of contemporary hospitality to Tokyo. Together with our partner Tokyu Group, we look forward to seeing this project take shape and solidify its position as an intersection of history, tradition and urban lifestyle in one of the most dynamic cities in the world. »

Robert Greenwoodpartner and managing director of Asia at Snøhetta commented:
“We envisioned a new 24-hour vision for Shibuya with this hybrid urban development that combines Landmark and Landform – a bridge between the city and the streets that stretches into the horizon – connecting Shibuya to Shoto. The design is formed as a single gesture, passing from the horizontal ground plane to the vertical horizon line, symbolizing the energy of the place in a single stroke, it is a tribute to the duality of Tokyo – a modern city steeped in tradition.”

Toby SmithVice President of Swire Hotels said:
“Witnessing the growth of The House Collective is a tremendously proud moment as we venture into new cities to bring our distinctive design and people-centric approach to Tokyo. Our partners Tokyu Group and LCRE share our vision to create a new and dynamic guest experience which, together with the opening of our new home, will provide world-class hospitality to residents and visitors to the city.”

About Tokyo Company
Tokyu Corporation is a conglomerate which is the main part of Tokyu Group, which from March 2022 consists of 224 companies and five other institutions and foundations. With the slogan “Toward a Beautiful Age”, Tokyu has been promoting business in areas closely related to customers’ daily lives, mainly along Tokyu’s railway lines, while taking advantage of “urban planning” centered on the rail business as the foundation of the business. In Shibuya, with the aim of realizing “from Japan Most Visited City” and “Entertainment City Shibuya”, Tokyu develops and operates a large number of complex facilities and strives to enhance the attractiveness of the Greater Shibuya area. For more information about Tokyu Corporation, please visit tokyu.co.jp/global/

About Tokyu Department Store (TDS)
As a Tokyu Group retail company, TDS operates department stores, shopping malls and specialty stores primarily in Shibuya and other areas along Tokyu’s railway lines. In Shibuya, TDS operates the “Shibuya Hikarie ShinQs” store as part of the historic “Shibuya Hikarie” project, the famous and highly visited “Shibuya Tokyu Food Show” and several other key projects in the area. By employing a multi-retail strategy that TDS calls “Integrating Retailer” and leveraging its expertise and curation know-how developed through its department store business, TDS aims to continually push the boundaries enriching the customer experience. For more information about TDS, please visit https://www.tokyu-dept.co.jp/translation/eng.html

About L Catterton Real Estate
With over $33 billion of equity through its fund strategies and 17 offices around the world, L Catterton is the world’s largest consumer-focused private equity firm. Leveraging deep category knowledge, operational excellence and an extensive network of strategic relationships, L Catterton’s team of nearly 200 investment and operating professionals helps management teams around the world build strong, category-leading brands. Since 1989, the company has made approximately 250 investments in consumer businesses.

L Catterton Real Estate seeks to generate attractive risk-adjusted returns by developing high-quality, mixed-use and luxury real estate, in premium locations globally, by establishing close, long-term partnerships with leading local promoters. CERL provides differentiated operational and strategic support to its partners, all focused on improving value and returns on investment for the benefit of all stakeholders. Some notable projects include Ginza SIX in Ginza Tokyo, the Miami Design District in Miami, and the Amazing Brentwood in Burnaby, British Columbia. For more information on L Catterton, please visit lcatterton.com.

About Snohetta
For more than 30 years, Snøhetta has designed some of the most remarkable public and cultural projects in the world, including the new library in Alexandria, EgyptNorwegian National Opera and Ballet Oslo and the National September 11th Memorial Museum Pavilion at the World Trade Center in New York Cityamong many others.

Since its inception, Snøhetta has maintained an original transdisciplinary approach and integrates architecture, landscape, interior, art, product, graphic and digital design into its projects. The practice has a global presence, with offices ranging from Oslo, Parisand Innsbruck, to New York, hong kong, Adelaide and San Francisco representing a multitude of different cultural and national backgrounds with over 350 employees. While having an international approach, Snøhetta still has a strong and unified culture firmly rooted in the Nordic model, where equality, openness, generosity and sustainability are reflected in their projects.

About the Swire Group and Swire Properties
The Swire Group is a highly diversified global company, with businesses spanning real estate, food and beverage, aviation, marine, as well as commercial and industrial businesses. Its main activities mainly focus on Asiawith its key operations in hong kong and mainland China. In AsiaSwire’s business is primarily conducted through the Group’s listed arm, Swire Pacific Limited (HKSE: 00019/00087), which is the largest shareholder in two hong kong listed companies: Swire Properties and Cathay Pacific Airways. Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations at major transit hubs.

About The House Collective
The House Collective by Swire Hotels is a group of refined and highly individual properties that defy comparison. Each one imagined in a unique way, The Opposite House in beijingThe Upper House in hong kongThe House of the Temple in Chengdu and the middle house in Shanghai have been designed for seasoned travelers who seek a different, intimate and personalized experience in luxury travel. Each home is a sophisticated and singular piece of design, created by talented architects and designers, that reflect the unique qualities of their surroundings.

Visit The House Collective website at www.thehousecollective.com.

Presentation of the company and Venue (planned, may be subject to change)

Developer

Tokyo Company, L Catterton Real Estate,
Tokyo department store

Address

2-24-1 Dogenzaka, Shibuya-ku, Tokyo

Use

Retail, hotel, residential, etc.

The site area

013,675m2 (includes Bunkamura)

GFA

117,000m2 (includes Bunkamura)

Soils

New development: B4F / 36F

Bunkamura: B2F/ 8F

Height

164.8m

Design Architect

Snøhetta

Executive Architect

JV design between Nikken Sekkei Ltd. and

Tokyu Architects & Engineers Inc.

Completion

Fiscal 2027 (planned)

The two main features designed in the project are:
The Beehive: a vibrant and lively atrium anchoring the heart of the project
The sanctuary: a cultural healing space allowing visitors to engage in activities

Media contacts:
Tokyu Corporation, General Affairs Headquarters, Public Relations Group
Press contacts: [email protected]

L Catterton Real Estate
Press contacts: Julie Hamilton / +1-203-742-5185 / [email protected]

Tokyu Department Store, Public Relations Department
Press contacts: [email protected]

SOURCEL Catterton

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