https://senrogai.com/
PROPUPは東京世田谷区の北沢という街にあります。特に下北沢駅周辺は若者に人気の街です。
元々小田急線が地上を走っていましたが、長い年月を経て、地下化が果たされました。
地上部分は「下北線路街」と名付けられ、洒落た商業施設、ホテル、遊歩道などが整備されています。
かつて線路であった場所は、小田急電鉄が所有しており、得られる収益は鉄道運賃によるものでした。
土地は鉄道を敷くためのものであり、一方で、鉄道は保有資産の活用施策とも呼べるものでした。
しかしこれを地下化し、上部に新たな用途を生み出す事で、小田急電鉄はほぼ同じ敷地で、更に大きな収益を得る事になりました（コロナ禍もあり、諸施設開業までには紆余曲折あった事も付しておきます）。
建物で言えば、平家建が２階建になったという感じです。当然にフロアごとの価値は同じではないので、得られる収益は異なりますが、資産活用の視点では、この「積層化」が果たす効果は大きなものです。
敷地を横に広げるのは相当大変です。都市部では土地は高価ですし、簡単に売ってもくれません。
しかし、上下に資産を拡大するのは建築や構造物の役割で、土地の拡大に比べれば、ハードルは下がります。
資産活用の第一のアプローチとしては「今ある土地で何が出来るか」の自問だと思います。
PROPUP is located in Kitazawa, Setagaya-ku, Tokyo. The area around Shimokitazawa Station is especially popular among young people.
Originally, the Odakyu Line ran above ground, but after a long period of time, the line was converted to underground service.
The aboveground portion of the area has been named “Shimokitazawa Senro Gai” and is home to fashionable commercial facilities, hotels, and promenades.
The former railroad tracks were owned by Odakyu Electric Railway, which earned revenue from railroad fares.
The land was used to build the railroad, while the railroad could be called a measure to utilize the assets owned by the company.
However, by converting the land to underground and creating a new use for the upper portion, Odakyu Electric Railway was able to generate even greater revenues on almost the same site (it should be noted that there were some twists and turns before the opening of the various facilities, including the Corona disaster).
In building terms, it is as if a one-story building became a two-story building. Naturally, the value of each floor is not the same, so the income obtained will differ, but from the perspective of asset utilization, the effect of this “stacking” is significant.
It is quite difficult to expand a site horizontally. In urban areas, land is expensive and not easily sold.
However, expanding assets up and down is the role of buildings and structures, and the hurdle is lower compared to expanding land.
I think the first approach to asset utilization is to ask yourself, “What can we do with the land we have?